Zhejiang Expressway chairman Geng Xiaoping yesterday said the company must sell its stake in Kinghing Securities, renamed Zheshang Securities, to focus on its main business - toll-road operation.

He renewed his pledge to sell the brokerage as Zhejiang Expressway, whose net profit rose 15.5 per cent to 1.65 billion yuan last year, said newly acquired Zhejiang Jinhua Yongjin Expressway would see net losses this year and next.

Jinhua Yongjin Expressway, in which Zhejiang Expressway bought a 23.45 per cent stake last month, owns 100 per cent of the Jinhua section of the Ningbo-Jinhua Expressway.