Tianjin Port subsidiary secures $31.87m deal for hazardous chemicals platform

Wuze Logistics Co., a subsidiary of Tianjin Port Development Holdings Limited, has entered into a RMB31,865,892 Platform Construction Agreement with Information Co. for a port hazardous chemicals intelligent monitoring platform. Information Co., a subsidiary of Tianjin Port Group Co., the controlling shareholder of Tianjin Port Development Holdings, makes this a connected transaction.

The project, valued at RMB31,865,892 (inclusive of tax), will be funded by internal resources and will involve milestone payments until July 2026. The agreement was reached through an open bidding process, with Information Co. selected based on its highest overall score for technical, informational, and commercial aspects.

The transaction is subject to reporting and announcement requirements but is exempt from circular and independent shareholders' approval requirements. The directors, including independent non-executive directors, consider the terms fair, reasonable, and in the company's best interests.