ZHEJIANGEXPRESS announced on December 17, 2024, that its subsidiaries, branches, and management office signed a safety engineering maintenance contract with Zhejiang Shunchang, Maintenance Company, and Construction Maintenance, with a total price of RMB 10.0564 million. According to the contract, related parties will provide traffic safety engineering maintenance for the relevant highways of the group, including special treatment of isolation fences and comprehensive renovation of ancillary facilities.The contract period ranges from 1 to 2 months, with a 2-year defect liability period. The payment method is 97%-98.5% payable after acceptance of work, with the remaining amount payable after the defect liability period expires. Since the transportation group is the controlling shareholder of the company and Zhejiang Shunchang, Maintenance Company, and Construction Maintenance are all its subsidiaries, this...Show More

ZHEJIANGEXPRESS announced on December 17, 2024, that its subsidiaries, branches, and management office signed a safety engineering maintenance contract with Zhejiang Shunchang, Maintenance Company, and Construction Maintenance, with a total price of RMB 10.0564 million. According to the contract, related parties will provide traffic safety engineering maintenance for the relevant highways of the group, including special treatment of isolation fences and comprehensive renovation of ancillary facilities.The contract period ranges from 1 to 2 months, with a 2-year defect liability period. The payment method is 97%-98.5% payable after acceptance of work, with the remaining amount payable after the defect liability period expires. Since the transportation group is the controlling shareholder of the company and Zhejiang Shunchang, Maintenance Company, and Construction Maintenance are all its subsidiaries, this transaction constitutes a related party transaction.According to the listing rules, this transaction is combined with similar transactions within the past 12 months, and the applicable percentage exceeds 0.1% but is below 5%, and must comply with the reporting and announcement requirements, but is exempt from compliance with the independent shareholder approval requirements. The Board of Directors believes that the terms of the transaction are fair and reasonable and are in the overall interest of the company and shareholders.