Summary by Moomoo AI
On December 2, 2024, a subsidiary of Zhejiang Hengyong signed a contract with Zhejiang Smooth, Maintenance and Delivery Care Company to provide traffic safety maintenance for the Group's expressways. The total cost of the contract is RMB3,987,570 and covers signage remediation, ancillary facility integration, accident multi-lane management and toll station pontoon, warning pile upgrades. Contract duration and payment terms vary depending on the project, with a period ranging from 1 month to 4 months with a defect liability period of 12 to 24 months.Since Zhejiang Smooth, Maintenance Company and Delivery Care are subsidiaries of the Transport Group, the transaction constitutes a connected transaction under Chapter 14A of the Listing Rules. The applicable percentage of transactions exceeding 0.1% but less than 5% is therefore subject to the declaration...Show More
