Overseas Regulatory Announcement

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.

Zhejiang Expressway Co., Ltd.
(A joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock code: 0576)

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The announcement on preliminary financial data for the first half of 2017 of Zheshang Securities Co., Ltd.( "Zheshang Securities") , a subsidiary of the Company, is published by Zheshang Securities on the website of the Shanghai Stock Exchange and is set out in the following section for reference only.

The content of the relevant announcement is also published on the website of the Company at http://www.zjec.com.cn/.

In the announcement on preliminary financial data for the first half of 2017 of Zheshang Securities, net assets attributable to the parent company of Zheshang Securities is presented on a consolidated financial statements basis. In the announcement dated 7 July 2017 in relation to the key financial figures of Zheshang Securities in June 2017, the parent company of Zheshang Securities and Zhejiang Zheshang Securities Asset Management Co., Ltd. ("Zheshang Asset Management") are both presented on a company level basis and are within the scope of consolidation. Zheshang Asset Management is a wholly-owned and controlled subsidiary of Zheshang Securities.

On behalf of the Board
Zhejiang Expressway Co., Ltd.
ZHAN Xiaozhang
Chairman

Hangzhou, the PRC, 18 July 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.

Stock Code: 601878           Stock Short Name: Zheshang Securities            Announcement No: 2017-002

ZHESHANG SECURITIES CO., LTD.
ANNOUNCEMENT ON PRELIMINARY
FINANCIAL DATA FOR THE FIRST HALF OF 2017

The board of directors and all directors of the Company warrant that there are no false representations, misleading statements contained in this announcement or material omissions fr om this announce ment and individually and collective ly accept responsibility for the truth, accuracy and completeness of the contents of this announcement.

The major financial information for the first half of 2017 contained in this announcement is preliminary accounting information, which has not been audited by accounting firm. The final figures will be formally disclosed in the 2017 interim report of the Company. Investors are advised to be aware of the investment risks involved.

1. Major Financial Information and Indicators for the First Half Of 2017 (Consolidated)

Unit: RMB million

Items	January to June, 2017	January to June, 2016	Change (%)
Operating income	206,005.38	211,380.05	–2.54%
Operating profit	68,699.70	69,782.84	–1.55%
Total profit	70,400.17	70,940.33	–0.76%
Net profit attributable to shareholders of the listed company	52,658.16	51,861.04	1.54%
Basic earnings per share (RMB/ share)	0.18	0.17	1.42%
Weighted average return on net assets (%)	5.36%	6.00%	Decreased by 0.64 percentage points
Items	As at 30 June, 2017	As at December 31, 2016	Change (%)
Total assets	5,553,884.29	5,373,724.56	3.35%
Owners' equity attributable to shareholders of the listed company	1,284,974.22	956,549.89	34.33%
Share capital	333,333.34	300,000.00	11.11%
Net assets per share attributable to shareholders of the listed company (RMB/share)	3.85	3.19	20.90%

2. Discussion on the operating results and financial positions

For the first half of 2017, the turnover of the Shanghai Stock Exchange and the Shenzhen Stock Exchange recorded a year-on-year decrease of 18.45% (Source: WIND info), together with the decline in the income contributed by the Company's brokerage business, the Company recorded a decrease of 2.54% in operating income for the first half of 2017 as compared with the corresponding period in last year. The Company has strengthened its internal management, reduced its cost and enhanced its efficiency. The net profit attributable to shareholders of the Company increased by 1.54% over the corresponding period in last year. For the first half of the year, the Company completed its issue of new shares under its initial public offering which resulted in a significant increase in share capital, owner's equity and net assets per share of the Company. The Company will further strengthen its customer services, expand its comprehensive business model and strive to overcome the challenges in the adverse market environment. Currently, the Company's businesses performed steadily, its asset structure is sound and healthy while its liquidity remains strong. Its risk control indicators complies with the requirements stated in the Measures for the Administration of the Risk Control Indicators of Securities Companies.

3. Documents available for inspection

The balance sheet and profit and loss statement duly signed and affixed with the common seal of the Company by Mr. Wu Chenggen, the legal representative of the Company, Mr. Sheng Jianlong, the accounting chief of the Company, and Ms. Feng Jianlan, the person-in-charge of the accounting department.

It is hereby announced the above.

By the board of Zheshang Securities Co., Ltd.
17 July 2017