Gelonghui, May 20, 丨 Jutao Offshore Oil Service (03303.HK) announced that on May 20, 2024, Shenzhen Jutao signed a contract with Suzhou Hengsheng. According to the contract, Shenzhen Jutao (an indirect wholly-owned subsidiary of the company) agreed to provide services to Suzhou Hengsheng, and Suzhou Hengsheng agreed to appoint Shenzhen Jutao to provide services. The cost, including material costs, was RMB 1.04 million. The contract period is 24 months from the date of signing.

Providing services is the Group's daily business, and providing services under contracts will increase the Group's revenue. The amount of compensation is determined by the contracting parties after fair negotiation, and the amount is not less than the cost of the Group providing similar services to independent third parties. The Group and Suzhou Hengsheng further negotiated the terms and conditions of the contract after fair negotiations. The terms and conditions of the contract were not inferior to the terms and conditions for the Group to provide similar services to independent third parties.