CTF SERVICES to Divest Full Ownership in Hunan Expressway Subsidiary for RMB 1.61 Billion

Stock News05-13

CTF SERVICES announced that on May 13, 2026, its indirect wholly-owned subsidiary, CTF SERVICES Investment Limited, has agreed to sell a 60% stake and a 40% stake in Hunan CTF SERVICES Expressway Company Limited to Shanghai Infrastructure Construction Development (Group) Co., Ltd. and Shanghai Urban Construction (Guangdong) Construction Development Co., Ltd., respectively. The total consideration for the transaction is approximately RMB 1.61 billion.

Following the completion of the sale, the target company's existing bank loans, with an outstanding principal amount of approximately RMB 2.11 billion as of the announcement date, will remain the responsibility of the target company and will not be transferred.

The target company is primarily engaged in the operation of toll roads, including but not limited to expressway toll collection services, expressway operation management, road operation, management, and maintenance, as well as investments in transportation, infrastructure, and environmental pollution control projects. It has been operating the Changsha-Liuyang Expressway project under a concession agreement with relevant Chinese government authorities in Hunan Province. This project is a two-way expressway spanning approximately 72.4 kilometers, connecting Changsha and Liuyang within Hunan Province.

The company stated that the proposed disposal is expected to enhance the group's overall balance sheet position and provide greater financial flexibility for pursuing its growth strategy.

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