Zhejiang Jiaoke: won bid for a project worth 4.793 billion yuan, subordinate company plans to invest 520 million yuan

Zhejiang Jiaoke announced that its subsidiary companies Zhejiang Jiaogong, Jiaogong Underground, and Zhejiang Road Property City, formed a consortium and won the bid for the new urbanization construction project in the Yangzhou district along the Fuchun River in Tonglu County. The total static investment of the project is 4.793 billion yuan, with a cooperation period of 8 years. To this end, a project company with a registered capital of 100 million yuan will be established. Zhejiang Jiaogong and Jiaogong Underground plan to contribute 20 million yuan of capital, accounting for 20%, and are expected to invest up to 500 million yuan in the project development and construction. In the past 12 months, the company has jointly invested a total of 538 million yuan with related parties, exceeding 0.5% of the net assets audited in the most recent period. This project is expected to undertake an engineering volume of 3.004 billion yuan, which will help strengthen the company's competitiveness in the Yangtze River Delta region.