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 been confirmed as the successful bidder for a project consultation services contract involving the G50 Expressway in Shanghai. The deal, worth RMB12,000,000, is considered a connected transaction due to Shanghai Shen-Yu’s relationship with the company’s substantial shareholder, SIHL, and is subject to reporting and announcement requirements. Investors are cautioned to exercise care when trading in the company’s securities until a formal agreement is executed.
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