On November 18, 2022, China Yunnan Highway Construction Group Co., Ltd. (“Yunnan Highway Construction” for short) completed the registration of industrial and commercial changes. It marked the successful restructuring, acquisition and takeover of Yunnan Highway Construction by China Pacific Construction Group (CPCG), which was also the bankruptcy reorganization of the first enterprise with special-class qualification for highway construction in China. Helping address its difficulties, CPCG was expected to bring this bankrupt enterprise back to the market.
   On September 1, 2021, with the strong support of Mr. Yan Jiehe, founder of CPCG, the company officially submitted Registration Materials for bankruptcy reorganization of Yunnan Highway Construction. On June 14, 2022, the head of Yunnan Highway Construction designated CPCG to take charge of its bankruptcy reorganization through investment. On October 19, 2022, the Kunming Intermediate People’s Court issued a civil ruling approving the restructuring plan of Yunnan Highway Construction. On November 1, 2022, Yunnan Highway Construction and CPCG officially signed a restructuring investment agreement. On November 18, 2022, Yunnan Highway Construction completed the registration of industrial and commercial changes. Upon completion of acquisition and reorganization that lasted over a year, Yunnan Highway Construction rose up from the ashes to start anew.