GREENTOWN CHINA (03900) signs a framework agreement with China Communications Construction Group to construct in 2025.

GREENTOWN CHINA (03900) announced that, in view of the group's continuous development, on January 22, 2025, the company entered into a 2025 Construction Framework Agreement with China Communications Construction Group (CCCG), which includes CCCG or its affiliated companies providing construction services to the group from time to time for the three fiscal years ending on December 31, 2027. Except for the transaction limit, the terms and conditions of the 2025 Construction Framework Agreement are basically the same as the 2022 Construction Framework Agreement. During the term, the group will appoint CCCG or its affiliated companies to provide construction services to the group in accordance with the terms and conditions of the 2025 Construction Framework Agreement, which may include house construction (including general contracting), installation engineering, landscaping, interior decoration engineering, curtain wall installation, municipal road construction, and weak current engineering. The announcement stated that the group mainly selects major contractors for its construction projects through a tendering process. CCCG or its affiliated companies have previously been awarded construction projects by the group through such procedures from time to time, and it is expected that they will continue to participate in the tendering process for group construction projects based on the situation of relevant construction projects in the future. The 2025 Construction Framework Agreement will set out the principles governing transactions between the group and CCCG or its affiliated companies. When the group selects CCCG or its affiliated companies as contractors for its construction projects and enters into individual agreements, the 2025 Construction Framework Agreement will have certain flexibility, but must comply with the relevant transaction limits and adhere to the relevant regulations under Chapter 14A of the Listing Rules. The directors also believe that the ongoing cooperation between the group and CCCG, taking into account CCCG's past record of undertaking group project construction works, CCCG's extensive experience and high-quality qualifications in the Chinese construction industry, is beneficial for the group as a whole.