Hong Kong Stock Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 0576) CSRC APPROVAL OF THE PROPOSED SPIN-OFF AND SEPARATE LISTING OF THE SPINCO ON THE SHANGHAI STOCK EXCHANGE

The announcement is made by the Board of the Company pursuant to Rule 13.09(2) of the Listing Rules and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company dated 7 May 2013 (the "Announcement") in relation to the Proposed Spin-off of Zheshang Securities Co., Ltd. (浙商證券股份有限公司), an indirectly owned subsidiary of the Company (the "SpinCo"), by way of separate A shares listing (the "A Share Listing") of the SpinCo on the Shanghai Stock Exchange. Terms defined in the Announcement shall have the same meanings herein, unless the context otherwise requires.

The Board is pleased to announce that on 2 May 2017, the SpinCo obtained the CSRC's approval in respect of the A Share Listing.

As at the date of this announcement, the final offering size, the issue price and other details of the A Share Listing have yet to be finalised.

Further announcement will be made by the Company as and when appropriate in respect of the details and any material development in relation to the Proposed Spin-off.

Shareholders and public investors should note that there is no assurance as to whether or when the Proposed Spin-off will complete. As the Proposed Spin-off may or may not complete, the Shareholders and public investors are advised to exercise caution when dealing in the securities of the Company.

On behalf of the Board

Zhejiang Expressway Co., Ltd. ZHAN Xiaozhang

Chairman

Hangzhou, the PRC, 2 May 2017

As at the date of this announcement, the executive directors of the Company are: Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the non-executive directors of the Company are: Mr. WANG Dongjie, Mr. DAI Benmeng, and Mr. ZHOU Jianping; and the independent non-executive directors of the Company are: Mr. ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang, Rosa.

Zhejiang Expressway Co. Ltd. published this content on 02 May 2017 and is solely responsible for the information contained herein.
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