On July 29, Gourgen Traffic Construction (603815.SH) announced that its wholly-owned subsidiary, Gourgen Construction, had formed a consortium with the company's controlling shareholder, Xiangyuan Holdings, and affiliated company Xiangyuan Design to jointly participate in the bid and win the EPC+O general contract project for the Lingmen Fishing Port Seafood Plaza Project (Industrial Park) in Yuhuan City, Zhejiang Province. The winning price was 252.58 million yuan. As a member of the consortium, Gourgen Construction is responsible for the procurement and installation of project materials and equipment, construction of building installation engineering and temporary engineering, and is expected to undertake a contract value of 248.32 million yuan; Xiangyuan Design, as the design member, is responsible for the construction drawing design related to the project implementation scope, and is expected to undertake a contract value of 4.26 million yuan; Xiangyuan Holdings, as the lead, is responsible for commercial investment planning, investment, operational planning, and establishment of a joint venture company with the owner for project operation and management after it is completed, and is not involved in the design or construction contents of the proposed signed general contract agreement. It is expected to undertake a contract value of 0 (the project operation agreement after completion will be separately negotiated and signed by the owner and Xiangyuan Holdings).

In addition, Gourgen Construction, together with the company's controlling shareholder Xiangyuan Holdings and affiliated company Xiangyuan Design, formed a consortium to jointly participate in the bid and win the EPC+O project of Kuangcang Yunjing (Sky City) Engineering in Linhai City, Zhejiang Province. The winning price was 441.0873 million yuan. As a member of the consortium, Gourgen Construction is responsible for project procurement, construction, etc., and is expected to undertake a contract value of 433.1373 million yuan. Xiangyuan Design, as the design member, is responsible for the construction drawing design related to the project, and is expected to undertake a contract value of 7.95 million yuan. Xiangyuan Holdings, as the lead, is responsible for operational planning and management after the project is completed, and is not involved in the design or construction contents of the proposed signed general contract agreement. It is expected to undertake a contract value of 0 (the project operation agreement after completion will be separately negotiated and signed by the owner and Xiangyuan Holdings).

Xiangyuan Holdings, the controlling shareholder of the company, is a conglomerate mainly engaged in cultural tourism investment and operation. It has invested and operated a batch of ecological and cultural tourism destinations, including Hunan Fenghuang Ancient Town, Zhangjiajie Huanglong Cave, and Zhangjiajie Bailong Tianladder. It has accumulated rich business experience and good brand influence in tourism scenic spot investment, development, and operation. Gourgen Construction, a wholly-owned subsidiary of the company, has formed a consortium with Xiangyuan Holdings and affiliated companies to participate in the design, construction, operation, and bidding of two cultural and tourism and commercial projects, Yuhuan City project and Linhai City project in Zhejiang Province. With the good industry performance and brand of Xiangyuan Holdings in the investment and operation of cultural tourism scenic spots and commercial areas, it is conducive to Gourgen Construction's participation in the open tender of relevant cultural tourism and commercial construction projects, conducive to the expansion of its relevant projects, and promotes the development of the company's business.