Summary by Futu AI
ZHEJIANG HANGYONG EXPRESSWAY CO., LTD. (ZHEJIANG HANGYONG) ANNOUNCED THAT ITS SUBSIDIARIES HAVE SIGNED AN AGREEMENT WITH ZHEJIANG GAXIN TECHNOLOGY CO., LTD. (ZHEJIANG GAXIN) FOR UPGRADING THE INTERNET CHARGING SYSTEM AFTER THE TRADING PERIOD ON APRIL 30, 2024. Services covered by the contract include a variety of works including conversion of toll station servers, new or modified toll gate weighing systems, and enhancing the safety protection capability of the highway network. The service period is 2 months, the trial period is 3 months, and there is a defect liability period of up to 60 months. The total price of the contract is RMB 26,845,079.86 and was determined through an open tender process. According to the listing rules, since the combined percentage of this transaction and the previous transaction is between 0.1% and 5%, this transaction is subject to the declaration and announcement requirements, but does not require the approval of independent shareholders. ZHEJIANG GAXIN IS A SUBSIDIARY IN WHICH THE TRANSPORT GROUP HAS A 65.85% STAKE AND HAS A CONNECTED TRADING RELATIONSHIP WITH ZHEJIANG HANGYONG.