China Starch Holdings details RMB80m construction contract for production boost

China Starch Holdings Limited has provided an update on a discloseable transaction involving a construction contract. On May 25, 2025, DGC, an indirect non-wholly-owned subsidiary of the company, entered into a construction contract with Juneng Construction, totaling RMB80 million. Under this contract, Juneng Construction will provide various services for the construction facility, including buildings, structures, and the installation of ancillary water, electricity, and heating systems, as part of the Cornstarch Production Project in Linqing City, Shandong Province. This project aims to increase the group’s annual cornstarch production capacity.

In adherence to corporate governance practices, the company has voluntarily formed an independent board committee, comprising all independent non-executive directors, to review the terms of the construction contract. Central China International Capital Limited has been engaged as the independent financial adviser to provide recommendations to both the committee and the independent shareholders regarding the transaction.

An extraordinary general meeting will be convened to seek approval from the independent shareholders for the construction contract and the associated transaction. A circular detailing further information, recommendations from the independent board committee and independent financial adviser, and a notice convening the EGM was dispatched to shareholders on the same date as this announcement.