Ganyue Expressway

Jiangxi Ganyue Expressway Co., Ltd. was established in March 1998 with the approval of the Jiangxi Provincial Joint Review Group for Shareholding System Reform under Document Gan Gu [1998] No. 1. It was initiated and established by Jiangxi Expressway Investment Development Holding Co., Ltd. as the main promoter, together with Jiangxi Highway Development General Company, Jiangxi Provincial Transportation Materials Supply and Marketing General Company, Jiangxi Transportation Development Company, and Jiangxi High-Grade Highway Industrial Development Co., Ltd., now renamed Jiangxi Fangxing Technology Co., Ltd.
On April 10, 2000, with the approval of the China Securities Regulatory Commission under Document Zheng Jian Fa Xing Zi [2000] No. 37, the Company issued 120 million RMB ordinary shares on the Shanghai Stock Exchange. The Company's shares were officially listed and traded on the Shanghai Stock Exchange on May 18, 2000.