Yuexiu Transport Awards RMB233.6 Million Engineering Contract for GNSR Expressway Upgrade

Yuexiu Transport Infrastructure ( (HK:1052) ) has provided an announcement.

Yuexiu Transport Infrastructure’s indirect non-wholly owned subsidiary GNSR Company has awarded a mechanical and electrical engineering contract worth RMB233.6 million for the GNSR Expressway R&E Project to Chengtai Transportation, following an open tender conducted via the Guangzhou Public Resources Trading Center. The deal is classified as a connected transaction under Hong Kong listing rules because Chengtai Transportation is an associate of a substantial shareholder of GNSR Company, but with applicable percentage ratios between 1% and 5% and board and independent non-executive director approval deeming the terms fair and reasonable, it is subject only to reporting and announcement requirements and is exempt from circular and independent shareholder approval, streamlining execution of this key infrastructure upgrade for the group.

The most recent analyst rating on (HK:1052) stock is a Buy with a HK$5.50 price target. To see the full list of analyst forecasts on Yuexiu Transport Infrastructure stock, see the HK:1052 Stock Forecast page.

More about Yuexiu Transport Infrastructure

Yuexiu Transport Infrastructure is a Bermuda-incorporated company listed in Hong Kong that invests in and operates toll roads and related transport infrastructure projects, primarily through subsidiaries such as GNSR Company in mainland China. Its operations focus on developing, upgrading and managing expressways and associated engineering works in the Guangdong region and other key transport corridors.

Average Trading Volume: 1,218,748

Technical Sentiment Signal: Buy

Current Market Cap: HK$8B

See more data about 1052 stock on TipRanks’ Stock Analysis page.