Zhejiang Expressway Co., Ltd. (0576.HK) issued a circular announcing several proposals subject to shareholder approval at an Extraordinary General Meeting (EGM) scheduled for December 19, 2025 in Hangzhou, Zhejiang Province.
According to the announcement, the company plans to appoint Pan-China Certified Public Accountants as its new domestic auditor for the 2025 annual audit, citing overlapping work with an upcoming significant asset restructuring. The current auditor, RSM China CPA Limited, confirmed no disagreement with the proposed change.
The circular also includes the proposed appointment of a non-executive director, following the resignation of an incumbent director. If approved, candidate Mr. Zhao Xilong will serve until June 30, 2027 without remuneration from the company.
Additionally, the company seeks to amend its Articles of Association to broaden its business scope, notably encompassing power generation, distribution, electric vehicle charging infrastructure, and related fields. Final changes will be subject to approvals by the competent registration authority.
In support of a major expressway construction project through its subsidiary, Zhejiang Yongzhou Parallel Line Phase II Expressway Co., Ltd., Zhejiang Expressway plans to provide a joint and several guarantee with another shareholder for an insurance debt investment plan of up to RMB5 billion. The measure aims to secure long-term funding at more favorable interest rates compared to conventional financing.
Zhejiang Expressway shareholders will vote on these proposals at the EGM, with complete details and procedures outlined in the company’s official circular.
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