On 22 October 2025, Sichuan Expressway (stock code: 00107) reported that its indirect non-wholly-owned subsidiary Xingshu Supply Chain Company entered into a sand and gravel procurement contract with the LM Project Management Department of the Tianmei-Le Expressway Project under Jiaojian Lingzhou Construction. The contract covers an estimated supply of 400,000 tonnes of manufactured sand, crushed stone, and other related materials at a unit price of approximately RMB87–92 per tonne, with the total transaction amount capped at RMB100 million (tax inclusive).

According to the announcement, the final delivered quantity will be based on the Purchaser’s accepted and confirmed volume, and monthly settlement will be executed after the quality inspection. Payment is generally expected within three months following the completion of settlement procedures. The price was determined through competitive negotiations tied to the Tianmei-Le LM3 Project, which is part of the S7 Chengdu-Huili Expressway construction plan.

Because Jiaojian Lingzhou Construction is an associate of Shudao Investment, the Company’s controlling shareholder, this arrangement constitutes a connected transaction under Chapter 14A of the Listing Rules. As the applicable percentage ratios exceed 0.1% but remain below 5%, it is subject to reporting and announcement requirements but exempt from independent shareholders’ approval. Two non-executive directors employed by Shudao Investment abstained from voting on the board resolution involved, while other directors (including independent non-executive directors) unanimously regarded the terms and conditions as fair, reasonable, and in the Company’s interests.