Guangxi Wuzhou Communications Co., Ltd. (SHSE:600368) agreed to acquire 34% stake in Guangxi Quanxing Expressway Development Co., Ltd for CNY 520 million on June 27, 2022. The board of Guangxi Wuzhou Communications Co., Ltd. approved the transaction. As of March 31, 2022, Guangxi Quanxing Expressway Development Co., Ltd reported total assets of CNY 1,283 million and total common equity of CNY 855 million.

As of July 13, 2022, The shareholders of Guangxi Wuzhou Communications approved the deal in extraordinary general meeting of shareholders.