Zhitong Finance App News, Shengtong Technology (02495) announced that on August 31, 2024, the company signed a strategic cooperation agreement with China Construction First Bureau Group Construction and Development Co., Ltd. (China Construction First Bureau Construction and Development).

According to the strategic cooperation agreement, the two sides agreed to cooperate within the following scope:

Industrial park construction project. As the scale of the company's business continues to expand, the company will gradually participate in industrial park construction projects in Shanghai, Wuhan, and Malaysia in China. China Construction First Bureau Construction and Development will continue to use its professional advantages and experience in the field of construction to cooperate with the company to provide high-quality construction services, ensure the quality, safety and timely delivery of projects, and fully support the further expansion of the company's business.

Intelligent construction business. China Construction Zhengda Technology Co., Ltd. (China Construction Zhengda Technology), a subsidiary of China Construction First Bureau Construction and Development, has launched its own brand “Linker” smart construction site system and built a smart construction platform to provide comprehensive intelligent management for many projects under construction and development by China Construction First Bureau. The construction and development of China Construction First Bureau will promote in-depth cooperation between China Construction and Zhengda Technology and the company, with a view to jointly participating in the intelligent construction business of construction projects undertaken by the China Construction First Bureau.

Intelligent operation of the business. As the two sides are actively expanding their operating business, the two sides will negotiate and cooperate to establish an operating company to achieve complementary advantages in the industrial value chain. The company will be responsible for providing comprehensive intelligent services in the industrial park, and China Construction First Bureau will be responsible for providing construction services. The two sides will integrate their respective resources in the fields of construction and operation to jointly promote the efficient implementation of the project.

According to the strategic cooperation agreement, the two sides agreed to establish a cooperation mechanism, including: holding bilateral high-level talks from time to time to successfully advance strategic cooperation; strengthening cooperation at the departmental level; and encouraging daily work exchanges. The two sides can set up joint working groups to implement specific cooperation plans according to actual needs.

The announcement stated that the strategic cooperation agreement will enable the two parties to utilize their respective advantages and resources to achieve mutual benefit, promote common business development, and meet the overall interests of the company and its shareholders.