Prosperous Industrial awards major Panyu construction contract for smart manufacturing park

Prosperous Industrial (Holdings) Limited, through its indirect wholly-owned subsidiary Guangzhou Glorieux, has entered into a construction contract for Phase I of the Glorieux Intelligent Manufacturing Industrial Park Project in Panyu City. The contract, valued at RMB152.36 million (inclusive of 9% value-added tax), was awarded to China Railway Beijing Engineering Group Co., Ltd. following a tender process.

The project involves developing a total site area of 137,077.31 square meters, with Phase I covering 21,128 square meters and including three main buildings (one dormitory) with a gross floor area of 91,901.93 square meters. The construction period is approximately 470 calendar days, with completion expected by the end of 2026. Payments will be made in installments, including a 5% advance payment and progress payments representing 75% of completed works, with 3% retained as quality warranty retention.

This development is expected to enhance the value of the Group's assets and strengthen its business advantages by transforming existing industrial facilities into a modern industrial park within Guangzhou's sci-tech group ancillary zone. The board believes the contract terms are fair and reasonable and align with the Group's strategic goals.