Shanghai Industrial Urban Development Group Ltd (HK:0563) has released an update.
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Shanghai Industrial Urban Development Group Ltd’s subsidiary, SIUD Shanghai Construction, has secured a RMB12 million project consultation service agreement with Shanghai Shen-Yu to provide comprehensive management services for the G50 Expressway (Shanghai Section) expansion. The agreement, following a successful tender bid, marks a connected transaction under the Listing Rules, yet requires no independent shareholder approval due to its size relative to the company’s scale.
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