Xin Lang Cai Jing·2025-10-21 23:49Core Points - The core transaction involves Shandong Expressway Group transferring 338,419,957 shares, representing 7% of Shandong Expressway's total equity, to Anhui Wantong Expressway Co., Ltd. at a price of 8.92 CNY per share, totaling approximately 3.02 billion CNY [60][61][62] - The transaction aims to optimize the equity structure of the listed company and enhance strategic cooperation in the highway sector [63][64] - After the transaction, Shandong Expressway Group will hold 3,073,206,902 shares, or 63.57% of the total equity, while Wantong Expressway will hold 338,419,957 shares, or 7% [60][61] Company Information - Shandong Expressway Group is the controlling shareholder of Shandong Expressway, holding 70.57% of the shares before the transaction [60][61] - Anhui Wantong Expressway is the acquiring party, and this transaction marks its entry into the shareholding structure of Shandong Expressway [60][62] Transaction Details - The share transfer agreement was signed on October 21, 2025, and is subject to approval from relevant state-owned asset supervision authorities and the shareholders' meeting of Wantong Expressway [61][64] - The payment for the shares will be made in two installments: 30% within five working days of the agreement's effectiveness and 70% within ten working days after obtaining the stock exchange's confirmation [42][44][68] - Wantong Expressway commits to not trading or transferring the acquired shares for 12 months after registration [60][73] Governance and Future Plans - Following the completion of the share transfer, Wantong Expressway will have the right to nominate one director to the board of Shandong Expressway [60][70] - The transaction is expected to enhance collaboration and promote integrated development in the transportation sector [63][64]