The respective board of directors of Shenzhen International Holdings Limited (SEHK:152) and Shenzhen Expressway Corporation Limited (SEHK:548) announced that, SZ International and SZ Expressway have respectively submitted their PN15 applications and waiver applications from strict compliance with the requirement of paragraph 3(f) of PN15 to the Stock Exchange in respect of the potential spin-off arising from the Yichang Expressway REITs ("the Project"). The Stock Exchange has on 20 October 2023 confirmed that SZ International and SZ Expressway may proceed with the proposed spin-off and granted the said waivers. The proposed spin-off, if materialised, will involve disposal of 100% equity interest of SZ International and SZ Expressway in the Project Company, which shall constitute a transaction of SZ International and SZ Expressway under Chapter 14 of the Listing Rules, respectively.

It is currently expected that the highest applicable percentage ratio(s) in respect of the disposal of the Project Company for each of SZ International and SZ Expressway may exceed 5% but less than 25%. Therefore, the proposed spin-off may constitute a discloseable transaction for each of SZ International and SZ Expressway and be subject to the announcement requirement under Chapter 14 of the Listing Rules. SZ International and SZ Expressway will make further announcement(s) in relation to the proposed spin-off and the disposal transaction resulting therefrom as and when appropriate in accordance with the requirements of the Listing Rules.