Zheng Quan Zhi Xing·2025-07-22 10:19Core Viewpoint - Sichuan Chengyu Highway Co., Ltd. has been selected as the first candidate for the G5 Jingkun Expressway Chengdu to Ya'an section expansion project, with an estimated total investment of approximately RMB 28.548 billion, of which the company's contribution will be about RMB 4.902 billion, accounting for 85% of the project's capital [1][3][17]. Summary by Sections Project Overview - The project involves a consortium with China Huaxi Enterprises Co., Ltd., Sichuan Transportation Construction Group Co., Ltd., Sichuan Highway and Bridge Construction Group Co., Ltd., and Sichuan Gaolu Information Technology Co., Ltd. [1][3] - The total estimated investment for the project is approximately RMB 28.548 billion, with the project capital accounting for 20.20%, approximately RMB 5.767 billion [3][17]. Related Transactions - The transaction constitutes a related party transaction but does not qualify as a major asset restructuring under relevant regulations [2][3]. - The company has adhered to the necessary disclosure procedures and the transaction has been approved by the board of directors, with related directors abstaining from voting [2][4][21]. Financial Contributions - The capital contributions from the consortium members are as follows: Sichuan Chengyu will contribute approximately RMB 4.902 billion (85%), China Huaxi will contribute about RMB 577 million (10%), Sichuan Transportation Construction Group will contribute about RMB 173 million (3%), and the other two members will each contribute about RMB 58 million (1%) [3][17]. Project Significance - The Chengdu to Ya'an Expressway is a crucial part of the national G5 Jingkun Expressway, serving as an important transportation route in Sichuan province and enhancing connectivity between major cities [13][14]. - The expansion project aims to alleviate traffic congestion and improve the overall traffic capacity of the expressway, which is essential for regional economic development [14][17]. Approval Process - The project requires further approval from the company's shareholders' meeting, with related parties abstaining from voting to ensure compliance with regulations [2][21]. - The independent directors have expressed that the transaction aligns with the company's development strategy and does not harm the interests of shareholders, particularly minority shareholders [21][22].