August 4 -- Jilin Expressway (601518) announced that it canceled a plan to invest 27 million yuan in order to set up a real-estate subsidiary and instead formed an oil and new energy company called Jilin Expressway Energy, reports yicai.com, citing a company filing.

The new entity will have registered capital of 30 million yuan, with Jilin Expressway investing 24 million yuan for an 80-percent stake and Changchun Expressway pitching in six million yuan for the remaining 20-percent stake.