Securities code: 000498 securities abbreviation: Shandong Hi-Speed Road&Bridge Co.Ltd(000498) Announcement No.: 2021-156 Shandong Hi-Speed Road&Bridge Co.Ltd(000498) announcement on the commitment of Shandong Hi-Speed Company Limited(600350) Group Co., Ltd. to avoid horizontal competition
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
According to the relevant requirements of Shandong SASAC for joint restructuring, in August 2020, Shandong Hi-Speed Company Limited(600350) Group Co., Ltd. (hereinafter referred to as “Expressway Group”) and Qilu Transportation Development Group Co., Ltd. (hereinafter referred to as “Qilu transportation”) have implemented absorption and merger. After the merger, Qilu transportation is cancelled, and Expressway Group continues to exist as a merged company. Recently, expressway group as Shandong Hi-Speed Road&Bridge Co.Ltd(000498) (hereinafter referred to as ” Shandong Hi-Speed Road&Bridge Co.Ltd(000498) ” and “listed company” ）The controlling shareholder of the company made the commitment on avoiding horizontal competition with the listed company after the completion of the joint reorganization. The details are as follows:
In 2020, according to the notice of Shandong SASAC on joint restructuring, Expressway Group (hereinafter referred to as “the company”) ）It is merged with Qilu transportation. After the merger, Qilu transportation will be cancelled, and Expressway Group will continue to exist as a merged company. All assets, liabilities, businesses, personnel, contracts, qualifications and all other rights and obligations of Qilu transportation are inherited by Expressway Group. The equity or interests of Qilu transportation’s subordinate branches and subordinate enterprises held by Qilu transportation belong to Expressway Group.
As of the date of this letter of commitment, Shandong Hi-Speed Company Limited(600350) Transportation Construction Group Co., Ltd. (formerly known as “Qilu Transportation Construction Group Co., Ltd.”, hereinafter referred to as “shangao transportation construction”), Shandong Hi-Speed Company Limited(600350) Rizhao Construction Co., Ltd. (hereinafter referred to as “Rizhao construction”), Shandong Gangtong Construction Co., Ltd. (hereinafter referred to as “Gangtong construction”) and Shandong Hi-Speed Road&Bridge Co.Ltd(000498) Some businesses overlap in highway engineering construction.
At present, the company is integrating and cleaning up the businesses of shangao communications construction, Rizhao construction and their subordinate units, strengthening internal control, reducing business risks and ensuring project compliance. The company promises to start the process of injecting Shandong Hi-Speed Road&Bridge Co.Ltd(000498) through mergers and acquisitions in accordance with business practices and market fair prices within 36 months, Or transfer the controlling rights of shangao Jiaojian and Rizhao construction to other units not controlled by the company through listing and trading.
Gangtong construction is now a wholly-owned subsidiary of Qilu Expressway Co., Ltd. (Qilu expressway, 01576. HK), an H-share listed company. The company promises to actively urge relevant parties to start Gangtong construction by means of merger and reorganization in accordance with the standardized operation requirements, business practices and market fair prices of Chinese listed companies within 36 months Procedures, or transfer the controlling right of Gangtong construction to other units not controlled by the company through listing and trading.
The company promises to strictly abide by the relevant provisions of the CSRC and ensure that the company and other enterprises controlled by the company do not directly or indirectly operate any business that constitutes horizontal competition with listed companies.
If Shandong Hi-Speed Road&Bridge Co.Ltd(000498) suffers losses due to the breach of this commitment by the company and other enterprises controlled by the company, the company will compensate Shandong Hi-Speed Road&Bridge Co.Ltd(000498) .
It is hereby announced.
Shandong Hi-Speed Road&Bridge Co.Ltd(000498) board of directors December 23, 2021
