SCVE GROUP (06913): Lingnan Vocational and Technical College and Guangdong Group signed a construction general contracting agreement.

SCVE GROUP (06913) announces that on September 16, 2024 (after trading hours), Lingnan Vocational and Technical College entered into a construction general contracting agreement with the contractor (Guangdong Jiye Construction Co., Ltd). The contractor is required to provide construction services to Lingnan Vocational and Technical College for the main works of a student dormitory, a teacher dormitory, and an underground basement at the Qingyuan campus. The contract price is RMB 88.3443 million. It is reported that the contractor will act as the general contractor for the construction of the main buildings of Student Dormitory No. 14, Teacher Dormitory No. 15, and Basement No. 54-II. The announcement states that due to the increasing number of students at Lingnan Vocational and Technical College, the existing dormitory beds may not be able to meet the students' needs in the near future. The construction of the dormitories and basement under the construction general contracting agreement will expand the student capacity of Lingnan Vocational and Technical College, thereby supporting its further business development. Additionally, the new dormitories will be equipped with more advanced facilities, helping to improve the living conditions of students and enhance campus security. Therefore, the directors believe that the proposed transaction under the construction general contracting agreement will promote the development of the group and enhance its competitiveness and market recognition.