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Chengdu Expressway Co., Ltd. Class H ( (HK:1785) ) has provided an update.
Chengdu Expressway Co., Ltd., through its subsidiary Energy Development Company, is broadening its presence beyond core toll-road operations into energy-related infrastructure investment in Chengdu. The move underscores the group’s strategy of leveraging its transport and municipal investment background to tap into growth opportunities in the regional energy storage and infrastructure value chain.
The company’s subsidiary has signed a partnership agreement with units of controlling shareholder Chengdu Communications Investment and Sichuan AEME to establish the Chengdu Energy Storage Industrial Chain Equity Investment Fund with total commitments of RMB1 billion. Energy Development Company will contribute RMB150 million, or 15%, to a fund that will back energy storage assets in Chengdu, and while the vehicle is a connected transaction requiring disclosure under Hong Kong listing rules, it will not be consolidated into Chengdu Expressway’s financial statements.
More about Chengdu Expressway Co., Ltd. Class H
Chengdu Expressway Co., Ltd. is a PRC-incorporated expressway operator listed in Hong Kong, focusing on investment, construction, operation and management of toll roads and related infrastructure in and around Chengdu. Through its subsidiaries, the company is expanding into adjacent transport and energy-related infrastructure sectors to support regional development and diversify revenue streams.
Average Trading Volume: 53,405
Technical Sentiment Signal: Hold
Current Market Cap: HK$3.46B
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