Anhui Expressway Company Limited (SEHK:995) signed an agreement to acquire Anhui Anqing Yangtzi Highway Bridge Company Limited from Anhui Transportation Holding Group Co.,Ltd. for CNY 4.2 billion on October 13, 2021. under the terms of the transaction, phase 1: within 5 working days after this agreement becomes effective, Anhui Expressway shall pay Anhui Transportation Holdings 50% of the equity transfer amount, which is CNY 1.1 billion. Phase 2: within 5 working days after the date of equity transfer, Anhui Expressway shall pay Anhui Transportation Holdings 30% of the equity transfer payment, which is approximately CNY 660 million. Phase 3: within 60 days after the equity transfer date, Anhui Expressway shall pay Anhui Transportation Holdings 20% of the equity transfer payment, which is approximately 440 million. Post acquisition, Anhui Anqing Yangtzi Highway Bridge Company Limited will become the subsidiary of Anhui Expressway Company Limited. Anhui Expressway Company use its own or self-raised funds to fund the acquisition. Anhui Anqing Yangtzi Highway reported total assets as CNY 4.6 billion and total owner's equity as CNY 1.2 billion for the period end on July 31, 2021. Anhui Anqing Yangtzi Highway reported operating income as approximately CNY 310 million, operating profit as CNY -58.4 million and net profit as CNY -43.6 million for the period end on December 31, 2020. The subject of this transaction is the equity of the expressway company and related claims. The transaction is subject to Anhui Expressway Company shareholders review approval. The transaction has been approved by the board of directors of Anhui Expressway Company.