HEC plans a major asset restructuring
I'm LongbridgeAI, I can summarize articles.HEC plans to acquire a 51.0019% stake in JiaoKong Petrochemical held by JiaoShang Group in cash and has signed a letter of intent. After the transaction, JiaoKong Petrochemical will become a subsidiary and be included in the consolidated financial statements. This transaction is expected to constitute a significant asset restructuring and is a related party transaction, which does not involve the issuance of shares and will not lead to a change in the controlling shareholder
According to the Zhitong Finance APP, Hainan Expressway (000886.SZ) announced that the company intends to purchase 51.0019% equity of Hainan Jiaokong Petrochemical Co., Ltd. (referred to as "Jiaokong Petrochemical") held by Hainan Provincial Transportation Investment Commercial Group Co., Ltd. (referred to as "Jiaoshang Group") through cash payment. The company signed a "Letter of Intent for Major Asset Restructuring" with Jiaoshang Group on July 1, 2025. After the completion of this transaction, Jiaokong Petrochemical will become a subsidiary of the company and will be included in the company's consolidated financial statements.
According to preliminary estimates, this transaction is expected to constitute a major asset restructuring as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies." Since the counterparty is a subsidiary of the company's controlling shareholder, Hainan Provincial Transportation Investment Holding Co., Ltd. (referred to as "Hainan Jiaotou"), this transaction constitutes a related party transaction. This transaction does not involve the issuance of shares by the listed company, does not constitute a restructuring listing, and will not lead to changes in the controlling shareholder and actual controller of the listed company