ZHEJIANGEXPRESS (00576) is undergoing a stock absorption merger with Zhejiang Oceanking Development and has obtained approval from the China Securities Regulatory Commission to issue A shares under special authorization.

ZHEJIANG EXPRESS (00576) announced that the company intends to conduct a stock-for-stock absorption merger with Zhejiang Oceanking Development and issue Class A shares according to special authorization. The company has learned that Zhejiang Oceanking Development received approval from the China Securities Regulatory Commission (CSRC) on June 30, 2026, regarding the merger with ZHEJIANG EXPRESS Highways Limited (CSRC Approval No. [2026] 1576). The main contents of the CSRC approval are as follows: "1. Approve ZHEJIANG EXPRESS Highways Limited to absorb Zhejiang Oceanking Development Limited by issuing no more than 540,986,199 new shares. 2. Your merger should strictly follow the relevant application documents submitted to the Shanghai Stock Exchange. 3. You should promptly fulfill information disclosure obligations according to relevant regulations. 4. You should handle the relevant procedures of the merger according to relevant regulations. 5. This approval is valid for 12 months from the date of issuance. 6. In the process of implementation, if there are significant matters that need to be disclosed by law or regulations, you should report to the Shanghai Stock Exchange in a timely manner and handle them according to relevant regulations." The Board of Directors will handle the relevant matters related to this transaction within the specified period in accordance with the CSRC approval, relevant laws and regulations, and the authorization of the Extraordinary General Meeting and Special Shareholders' Meeting, and fulfill information disclosure obligations in a timely manner.