Sichuan Expressway subsidiary lands RMB 100m sand and gravel deal
Sichuan Chengyu Expressway Co., Ltd. announced its indirect wholly-owned subsidiary, Sichuan Chengyu Xingshu Supply Chain Management Co., Ltd. ("Xingshu Supply Chain Company"), signed a sand and gravel procurement contract with Sichuan Jiaojian Lingzhou Construction Co., Ltd. Tianmeile Expressway Project LM Project Department ("Jiaojian Lingzhou Construction LM Project Department") on October 22, 2025. Under the agreement, Xingshu Supply Chain Company will supply machine-made sand, crushed stone, and other materials, with the total transaction amount estimated not to exceed RMB 100 million (including tax).
This transaction stems from Xingshu Supply Chain Company's successful bid in a competitive negotiation for the Tianmeile LM3 sand and gravel procurement project. The contract covers an estimated 400,000 tons of sand and gravel, with a fixed unit price. Payment terms include monthly settlements based on accepted quantities, with payment due approximately three months after settlement.
According to Hong Kong and Shanghai stock exchange listing rules, Jiaojian Lingzhou Construction is a related party to Sichuan Chengyu, making this a related party transaction. The deal was approved by Sichuan Chengyu's independent directors, supervisory board, and board of directors, with related directors abstaining. The company states the transaction aims to meet routine operational needs and does not harm company interests.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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