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Zhonglai Shares' unit plans to sign 86.31 mln yuan procurement contract for PV steel frames with related party
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Jolywood (Suzhou) Sunwatt Co., Ltd. announced on September 22 that its wholly-owned subsidiary, Jiangsu Jolywood New Material Technology Co., Ltd., has selected Changshu Zhongjian Metal Industry Co., Ltd. as the supplier for photovoltaic steel frame procurement through a public competitive negotiation process. Subject to subsequent production scheduling, the subsidiary intends to sign a steel frame procurement contract with Changshu Zhongjian valued at 86.313 million yuan (including tax and freight). The transaction constitutes a related-party transaction because Changshu Zhongjian is indirectly controlled by Lin Jianwei, a shareholder holding more than 5% of Jolywood's shares and the company's former vice chairman and general manager, as stipulated by the Shenzhen Stock Exchange's GEM listing rules.
Source report
Gelonghui, September 22 — Zhonglai Shares (300393.SZ) announced that its wholly-owned subsidiary, Jiangsu Zhonglai New Materials Technology Co., Ltd. ("Jiangsu Zhonglai New Materials"), has recently identified Changshu Zhongjian Metal Industrial Co., Ltd. ("Changshu Zhongjian") as the supplier for a photovoltaic steel frame procurement project through a public competitive negotiation process.
In accordance with the company's subsequent production scheduling, Jiangsu Zhonglai New Materials plans to sign a steel frame procurement contract with Changshu Zhongjian. The contract value is RMB 86.313 million (including tax and freight).
Related Party Transaction
Changshu Zhongjian is an enterprise indirectly controlled by Mr. Lin Jianwei, a shareholder holding more than 5% of the company's shares, as well as the former Vice Chairman and General Manager of Zhonglai Shares. According to the relevant provisions of the Shenzhen Stock Exchange GEM Stock Listing Rules, Changshu Zhongjian is considered a related party of the company, and this transaction constitutes a related party transaction.
Source
格隆汇Neutral / independent
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