Ningbo Construction (601789.SH): Consortium pre-awarded Ningbo Hub Industrial City Integration Plate Spread East Area Comprehensive Development Project (Secondary Re-bidding)

Ningbo Construction (601789.SH) announced that the company, together with its wholly-owned subsidiary Ningbo Construction Engineering Group Co., Ltd. (referred to as "Construction Group"), and the company's controlling subsidiary Ningbo Municipal Engineering Construction Group Co., Ltd. (referred to as "Municipal Group"), and Ningbo Metallurgical Exploration Design Research Co., Ltd. (referred to as "Ning Metallurgical Exploration"), formed a consortium as a candidate for winning the bid in the Ningbo Hub Integrated Development Project (Phase II re-bidding) in the East Zone of the Buping. Project cooperation model: After determining the winning bidder of the project, the bidder and the winning bidder will jointly invest to establish a project company with a registered capital of 200 million RMB. The bidder's equity ratio is 10% and the winning bidder's equity ratio is 90%. The project company will be responsible for the specific planning, design consultation, investment and financing, construction, handover, and operation of the project. The estimated cooperation scale of the project is 103.02 billion RMB, including 50 billion RMB for pre-development expenses in the area and 53.02 billion RMB for engineering construction investment (including engineering costs of 45.45 billion RMB, other construction costs of 5.05 billion RMB, and contingency fees of 2.52 billion RMB). The scale of engineering construction investment is based on the sum of the budgeted investment for all approved sub-projects. Bidder fluctuation rate: 5% downward rate for construction and installation engineering costs, 5% investment return rate. Cooperation period: 10 years, including a construction period of 6 years.