C&d newin (00731.HK) announced on October 15th that after the bidding process, on October 15, 2024, Yuantong Paper (the company's indirect wholly-owned subsidiary) entered into a Yuantong Engineering Contract with the general contractor (the winning bidder). Pursuant to this, Yuantong Paper appointed the general contractor to renovate the existing steam turbine for Yuantong Paper in accordance with technical agreement requirements, and is responsible for engineering design, equipment and related materials procurement, and installation work. The price under the Yuantong Engineering Contract will be 15,000,000 yuan.

The company is implementing an energy development global strategy, reducing energy costs through equipment upgrades and process optimization to enhance the company's competitiveness. Entering into the Yuantong Engineering Contract aligns with the above long-term strategy and will reduce overall energy costs upon completion.