Hubei Construction Investment Group Co., Ltd. agreed to acquire 66% stake in Hubei Provincial Road & Bridge Co Ltd. from Wuhan East Lake High Technology Group Co., Ltd. (SHSE:600133) for CNY 2.4 billion on October 25, 2023. The transaction is approved by board of directors of Wuhan East Lake High Technology Group Co., Ltd. and Hubei Construction Investment Group Co., Ltd. and is subject to shareholders approval of Wuhan East Lake High Technology Group Co., Ltd. As on June 30, 2023, net assets of CNY 4.7 billion total assets of CNY 23.3 billion. As on December 14, 2023, the transaction was approved by the shareholders of Wuhan East Lake High Technology. CITIC Securities Company Limited acted as financial advisor, Grandall Law Firm acted as legal advisor and Mazars Certified Public Accountants LLP acted as accountant to Wuhan East Lake High Technology Group Co., Ltd.

Hubei Construction Investment Group Co., Ltd. completed the acquisition of 66% stake in Hubei Provincial Road & Bridge Co Ltd. from Wuhan East Lake High Technology Group Co., Ltd. (SHSE:600133) on December 27, 2023.