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Chengdu Expressway Co., Ltd. Class H ( (HK:1785) ) just unveiled an update.
Chengdu Expressway Co., Ltd. has announced that its subsidiary Zhongyou Energy has entered into a new three-year refined oil framework agreement with the Chengdu Sales Branch of PetroChina, effective from 1 January 2026 to 31 December 2028, to replace the existing agreement that expires at the end of 2025. Under the deal, Zhongyou Energy may purchase designated types of refined oil from PetroChina’s Chengdu branch, and the arrangement is classified as a continuing connected transaction under Hong Kong listing rules because PetroChina is a substantial shareholder of Zhongyou Energy. The board and independent non-executive directors have endorsed the agreement as being on normal commercial terms and in the interests of the company and its shareholders, meaning it will be subject only to reporting and announcement requirements and will be exempt from the need for a circular, independent financial advice and independent shareholders’ approval. The renewed framework provides continuity in fuel supply and regulatory clarity for Chengdu Expressway’s operations, while formalizing ongoing cooperation with PetroChina at the subsidiary level.
The most recent analyst rating on (HK:1785) stock is a Buy with a HK$2.50 price target. To see the full list of analyst forecasts on Chengdu Expressway Co., Ltd. Class H stock, see the HK:1785 Stock Forecast page.
More about Chengdu Expressway Co., Ltd. Class H
Chengdu Expressway Co., Ltd. is a PRC-incorporated joint stock company whose core business is the investment, operation and management of expressways and related infrastructure in and around Chengdu, leveraging stable toll-road revenue and associated services. Through its material subsidiary Zhongyou Energy, in which PetroChina holds a 49% stake, the group is also involved in the procurement and supply of refined oil products to support its operational needs and related commercial activities.
Average Trading Volume: 1,348,000
Technical Sentiment Signal: Buy
Current Market Cap: HK$3.44B
For an in-depth examination of 1785 stock, go to TipRanks’ Overview page.