Ning—Shanghai Expressway (600377.SH): Longtan Bridge Company plans to invest no more than 9.033 billion yuan to build the Ningyang Yangtze River Bridge South Connection Project

According to the Zhitong Finance App, Ninghai Expressway (600377.SH) announced that in order to improve the regional highway network, use the channel function of the Ningyang Yangtze River Bridge and Ningyang Yangtze River Bridge North Connection Project as soon as possible, and consolidate the company's dominant position within the Southern Jiangsu Road Network, the holding subsidiary of the company, Longtan Bridge Company, plans to invest no more than RMB 90.37.2 billion to build the Ningyang Yangtze River Bridge South Connection Project.

The company will increase its capital to Longtan Bridge Company with its own capital or other capital that meets the investment requirements of RMB 3,269.64 billion. Nanjing Highway Development (Group) Co., Ltd. (hereinafter referred to as “Nanjing Highway”), the shareholder of Longtan Bridge Company, will increase the capital of Longtan Bridge Company by RMB 1,246.72 billion, and the remaining construction capital of RMB 4,5163.6 billion will be raised by Longtan Bridge Company through bank loans, etc. After this capital increase, the company's shareholding ratio in Longtan Bridge Company will increase from about 57.33% to about 63.80%, which is still within the scope of the company's consolidated financial statements.