Hubei Chutian Smart Communication (600035.SH) plans to acquire 100% equity of Ping An Tong in order to expand the market for highway safety facilities.

Hubei Chutian Smart Communication (600035.SH) announced that on October 8, 2024, the company held a general manager's office meeting to review the acquisition of Jingzhou Ping'An Traffic Facilities Co., Ltd. ("Ping'An Traffic"). The company approved the acquisition of 100% equity of Ping'An Traffic at a purchase price not exceeding the assessed value of 29.9 million yuan. After negotiation among the parties involved, the transfer price for 100% equity of Ping'An Traffic was determined to be 29.53 million yuan. This equity acquisition will help the company expand its market in road safety facilities and achieve the industry chain extension of the main business of expressway investment and operation, which is in line with the company's development strategy and the interests of all shareholders.