Summary by Futu AI
JINGENO CLEAN ENERGY (JNCEC) ANNOUNCED ON 28 MAY 2024 THAT ITS WHOLLY OWNED SUBSIDIARY SHANTOU JINGENO SIGNED A CONSTRUCTION CONTRACT 2 WITH JINGENO CONSTRUCTION, ENTRUSTING THE LATTER TO PROVIDE CONSTRUCTION SERVICES FOR THE BLADE MANUFACTURING PLANT AND RELATED ANCILLARY BUILDING MAIN BUILDINGS. The construction is expected to start on June 1, 2024 and be completed on August 30 of the same year. The total cost of the construction contract 2 is approximately RMB2.95 million and will be paid in installments. AS A WHOLLY OWNED SUBSIDIARY OF THE JINGENO GROUP, KINEO HAS AN AFFILIATION WITH KINEO CLEAN ENERGY, SO THE TRANSACTION CONSTITUTES A CONNECTED TRANSACTION. Pursuant to the Listing Rules, the Transaction is subject to the Declarations and Announcements, but is exempt from approval by independent shareholders. Shantou Jingni selected Jingfeng Construction as the contractor through a public tender, emphasizing that the process complies with relevant laws and regulations of China. JINGENO CLEAN ENERGY SAID THAT THE CONTRACT WILL HELP SAFEGUARD THE PROJECT'S CONSTRUCTION QUALITY AND CYCLE AND WILL BRING ECONOMIC BENEFITS TO THE GROUP.