C&D Xinsheng (00731) subsidiary signs Yuantong project contract with Qingdao Shangneng Electric Power Engineering

Zhitongcaijing · 10/15 11:25

Zhitong Finance App News, Construction and Development Xinsheng (00731) issued an announcement. After the tender process, Yuantong Paper (an indirect wholly-owned subsidiary of the company) signed a Yuantong engineering contract with the general contractor Qingdao Shangneng Electric Power Engineering Co., Ltd. (winning bidder) on October 15, 2024 (after the transaction period). Based on this, Yuantong Paper hired a general contractor to modify Yuantong Paper's existing steam turbines in accordance with the requirements of the technical agreement, and is responsible for the procurement and installation of engineering design, equipment and supporting materials.

According to the announcement, the company implements an energy-saving development strategy to reduce energy costs and enhance the company's competitiveness through equipment updates and process optimization. The conclusion of the Yuantong engineering contract is in line with the above long-term strategy and will reduce overall energy costs after completion.