Tianjin Port Development Holdings (HK:3382) has released an update.
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Tianjin Port Development Holdings subsidiary, Fourth Company, has entered into a connected transaction with Jinan Heavy Equipment Co for the acquisition of three sets of portal cranes totaling RMB50,880,000. This transaction is part of a larger aggregate consideration of RMB95,784,000 and falls within regulatory limits that require reporting but not shareholder approval. The procurement was decided through an open bidding process where Jinan Heavy Equipment Co’s bid met the tender’s technical and commercial requirements.
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