On September 6th, Chutian Expressway (600035.SH) announced that recently, the company's controlling subsidiary, Hubei Hanyi Expressway Co., Ltd., received the approval from the Hubei Provincial Development and Reform Commission for the construction and expansion project of the Wuhan to Yichang section of the Shanghai-Chongqing Expressway. The main contents are as follows:

1. In order to implement the national strategies such as the Yangtze River Economic Belt and the rise of the central region, enhance the capacity and service level of national highways, improve the layout of the provincial highway network, further strengthen the coordination and linkage between the Wuhan metropolitan area and the Yichang-Jingzhou metropolitan area, and promote the development of regional advantages resources and high-quality economic and social development, the construction and expansion project of the Wuhan to Yichang section of the Shanghai-Chongqing Expressway (project code 2309-420000-04-01-660827) is allowed. The project investors, through open bidding, are Hubei Chutian Intelligent Transportation Co., Ltd. and Hubei Transport Investment Group Co., Ltd., who, in accordance with the investment proportion of 51% and 49%, respectively, legally formed Hubei Hanyi Expressway Co., Ltd., responsible for the investment, construction, operation, and maintenance management of the project. During the operation period, tolls will be collected as investment returns. After the operation period expires, all facilities of the project will be transferred to the relevant government departments free of charge.

2. The project route starts from Sha Mountain Street, Caidian District, Wuhan City, and connects with the Wuhan West Hub Interchange (which is included in the Beijing-Hong Kong-Macau Expressway construction and expansion project). It extends westward through Caidian District, Xiangyang City, Hanchuan City, Xiantao City, Qianjiang City, Shashi District and Jingzhou District of Jingzhou City, Zhijiang City, Yiling District, and Xiaoting District of Yichang City, and ends at the Gaojiadian Hub Interchange. The main line is approximately 265.7 kilometers in length, and the Yichang Connection Line is approximately 4.8 kilometers. Additionally, there is a Three Futan Interchange Connection Line of 1.4 kilometers, a Maozui Interchange Connection Line of 1.6 kilometers, and a Qixingtai Interchange Connection Line of 2.3 kilometers.

3. The main line and the connection line of the project are constructed and expanded using the "wide expansion on both sides and partial expansion on one side" method. The design speed is 120 kilometers per hour, and the standard of the dual eight-lane highway with an overall roadbed width of 42 meters is adopted. Other technical indicators are implemented in accordance with the relevant provisions of the "Technical Standards for Highway Engineering" (JTGB01-2014). There are a total of 27 interchange overpasses along the entire route. Simultaneously, 19 ramp toll stations, 1 mainline toll station, 5 service areas, 2 parking areas, 3 maintenance work areas, 3 monitoring and management sub-centers, as well as necessary transportation engineering and facilities along the route are constructed. The project has a construction period of 48 months.

4. The estimated total investment of the project is 43.03597 billion yuan, of which, the capital investment is 8.60719 billion yuan, accounting for 20% of the total project investment, and is self-raised by Hubei Hanyi Expressway Co., Ltd. The remaining part will be solved through domestic bank loans applied by the project legal entity. Regarding the toll collection period and toll standards of the project, it will be reviewed by the relevant departments and submitted to the provincial government for approval in accordance with the "Highway Law", the "Regulations on the Management of Toll Roads", and other related laws and regulations.