Summary by Futu AI
SHENZHEN INTERNATIONAL HOLDINGS LIMITED (SHENZHEN INTERNATIONAL) AND ITS APPROXIMATELY 51.56% INTEREST SUBSIDIARY SHENZHEN EXPRESSWAY GROUP CO., LTD. (DEEP EXPRESSWAY) ANNOUNCED THAT DEEP SPEEDWAY'S WHOLLY OWNED SUBSIDIARY OUTER RING COMPANY SIGNED A JOINT CONSTRUCTION CONTRACT ON JANUARY 25, 2024 WITH THE CHC FOUR BUREAU AND THE SHENZHEN MUNICIPAL GOVERNMENT. The contract covers the construction of K80+278 to K82+740 sections of Outer Ring (Hang Zi to Dapeng section), with a contract price of RMB840,912,606. The construction is part of the Intensive Toll Road Investment, Construction and Operations Management strategy and determines the contractor and contract price through public tender. Under the Listing Rules of the Hong Kong Stock Exchange Limited, the transaction is a disclosable transaction for Shenzhen International, while Deep High Speed is exempt due to an applicable percentage rate of less than 5%. The signing of a construction contract is in compliance with laws and regulations and is considered to be in the overall interests of shareholders.