ZHEJIANGEXPRESS (00576) plans to establish a joint venture company to engage in the investment, construction, and operation of low-altitude infrastructure.

ZHEJIANG EXPRESS (00576) announced on April 23, 2026, that the company has signed a cooperation agreement with the Technology Research Institute, the Institute of Intelligence and Data Exchange, Zhejiang Gaoxin, and the Commercial Group. According to this agreement, the company, the Technology Research Institute, the Institute of Intelligence and Data Exchange, Zhejiang Gaoxin, and the Commercial Group will jointly establish a joint venture company, which will mainly focus on investing, constructing, and operating low-altitude infrastructure. Low-altitude economy has been established as a national emerging pillar industry in the 2026 China government work report, with broad market prospects and rapidly expanding application scenarios. At the same time, low-altitude economy is also a key development direction supported by the policies of Zhejiang Province, and the establishment of the joint venture company conforms to the layout plan of emerging industries in Zhejiang Province. The integration of low-altitude infrastructure and application services can deeply integrate low-altitude technology with highway operation management, continuously improve the intelligent and efficient level of the group's highway operation management through means such as drone inspections, low-altitude digitized control, and all-domain visual monitoring, while enhancing safety, reducing operating costs, and empowering the development of the group's highway main business. Signing the cooperation agreement is beneficial for leveraging the resource advantages of each shareholder's full chain (including aircraft research and development, airspace planning and design services, and low-altitude infrastructure construction and operation), and providing guarantees for the scale development of the low-altitude industry.