Bay Area Development (00737): Guangshenzhu Company and Poly Growth Sign Luogang Construction Contract (TJ1 Section)

According to Zhitong Finance App, Bay Area Development (00737) issued an announcement. After passing the public tender and bidding procedures at the Guangzhou Public Resources Exchange Center, Guangshenzhu Company selected Poly Growth as the winning bidder and signed a Luogang construction contract (TJ1 section) with it on December 29, 2025 (after the trading period). According to the Luogang Construction Contract (TJ1 section), Poly Growth agreed to undertake the construction of the Luogang Interchange Renovation Project in the Luogang TJ1 section. The contract price was RMB 775 million.

Target matter: Poly Growth (as the contractor) will undertake the Luogang Interchange renovation project for road substrates, pavements, bridges, tunnels, superstructure piles and platforms, traffic safety facilities and pipelines for the section of the road section from K13+200 to the end of K15+650, with a total length of about 2.456 km (that is, TJ1 section).

The investment, construction, operation and maintenance of expressways is one of the Group's main businesses. The Luogang Construction Contract (TJ1 section) was signed as part of the implementation of the Luogang Interchange renovation project approved by the Guangdong Development and Reform Commission on March 9, 2022. The Luogang Interchange is one of the interchanges along the Guangzhou-Shenzhen section of the Beijing-Hong Kong-Macau Expressway. The implementation of the Luogang Interchange renovation project will help improve the traffic capacity and service level of the Guangzhou-Shenzhen section of the Beijing-Hong Kong-Macau Expressway, strengthen the Group's core competitiveness in the toll road industry, and be in line with the Group's development strategy.