Build a joint venture company to develop Zhangqiu real estate

Shandong Expressway (600350) September 8 announced that the company used its own funds in cash to the wholly-owned subsidiary of Shandong High Speed Investment Co., Ltd. to increase investment of 60 million yuan, by its and Zhangqiu Construction Investment Co., Ltd. Joint investment set up the project company--Shandong high-speed Zhangqiu Investment Co., Ltd.,　　Mainly engaged in Zhangqiu transportation infrastructure investment and real estate project development. September 7, Shandong High Speed Investment Co., Ltd. and Zhang Qiujian signed the "Cooperation Agreement", the two sides jointly invest in the establishment of Zhangqiu investment company.　　According to the cooperation agreement, Zhangqiu investment registered capital of 100 million yuan, of which investment company invested 60 million yuan, holding 60% of the equity, Zhang Qiujian investment 40 million yuan, holding 40% of the equity.　　Zhangqiu Investment company is mainly engaged in the development of real estate projects such as Zhangqiu city center Shang Mao Qu Complex, embroidery Source River 30, Landscape style belt, chengbei new area complex, Saint Shrine, yellow Qishan development and so on, and actively participates in the Zhangqiu transportation infrastructure and the construction investment of municipal infrastructure. On the same day, the company and the Zhangqiu government signed the Strategic cooperation Framework Agreement, the two sides will be in Zhangqiu transport infrastructure and municipal infrastructure construction investment and other aspects of comprehensive cooperation. The company said that after the implementation of the investment, will increase the company's long-term investment, expand the company in Jinan Land Reserve scale, promote the rapid development of real estate business, for the company to cultivate new profit growth.