Yuexiu Awards Major Expressway Overhaul Contract

Yuexiu Transport Infrastructure (HK:1052) has released an update.

Yuexiu Transport Infrastructure has awarded Poly Changda Engineering with an overhaul services contract for the Suiyuenan Expressway Project (Phase 4), valued at RMB 68,023,122, after a competitive bidding process. This transaction is considered a connected transaction as Poly Changda Engineering is a connected person at the subsidiary level, but it is exempt from certain requirements such as independent shareholders’ approval, according to Listing Rules. The completion of this phase follows the successful completion of Phase 3 and is expected to be consolidated with it for reporting purposes.

For further insights into HK:1052 stock, check out TipRanks’ Stock Analysis page.