CTF Services, the family’s infrastructure arm of Hong Kong’s billionaire Cheng family, is exploring the sale of mainland China toll roads worth about USD2bn as part of a strategic review. Discussions with state-owned Yuexiu Group and other potential buyers are at an early stage, with options to split assets for sale, sources said. The potential sale aims to raise cash and focus on faster-growing sectors like insurance and logistics. CTF, a key cash generator for the Cheng clan, has been divesting non-core assets amid challenges at sister firms New World Development and Chow Tai Fook Jewellery. CTF holds 15 road operations in cities like Guangzhou and Shenzhen and reported a 44% profit increase for the fiscal year ended June, driven by insurance and commercial projects.