Jiangsu Expressway Co (HK:0177) has released an update.
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Jiangsu Expressway Co has entered into two separate agreements with Micro Video Company and Xiandai R&B Company for upgrading and renovation projects on the Shanghai-Nanjing Expressway, with a combined value not exceeding RMB 6.376 million. These agreements are classified as related party transactions due to common control by Jiangsu Communications Holding but are exempt from approval and disclosure requirements under specific rules of the Hong Kong Listing Rules. The company’s directors believe these transactions are fair, reasonable, and in the shareholders’ best interests without impacting the company’s independence.
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