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(*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.345 Tc -0.345 Tw 3.154 0 Td <090F03EA037402880F2912D707140BA303DE082202AE0321>Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 15.943 0 Td [(\))0.5 (,)13 ( )0.5 (a)13 ( )0.5 (l)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.5 (d)13 ( )]TJ 0.025 Tc 0.007 Tw -19.097 -1.231 Td (liability company established in the PRC and an indirect )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(n)0.5 (o)0.5 (n )0.5 (w)0.5 (h)0.5 (o)0.5 (l)0.5 (ly)]TJ 0 Tc 4.753 0 Td (-)Tj 0.023 Tc 0.356 0 Td [(o)0.5 (w)0.5 (n)0.5 (e)0.5 (d )0.5 (s)0.5 (u)0.5 (b)0.5 (s)0.5 (id)0.5 (i)0.5 (a)0.5 (r)0.5 (y)0.5 ( )0.5 (o)0.5 (f )0.5 (C)0.5 (o)0.5 (m)0.5 (m)0.5 (un)0.5 (i)0.5 (c)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (ns)0.5 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)-2 ( )]TJ 0.025 Tc -5.109 -1.231 Td (as at the date of this announcement)Tj -13.083 -2.462 Td (\223Listing Rules\224)Tj 0.09 Tc 0.07 Tw 13.083 0 Td [(the)12.6 ( Rules)12.6 ( Governing)12.6 ( the)12.7 ( Listing)12.7 ( of)12.7 ( Securities)12.6 ( on)65 ( )]TJ 0.073 Tc 0 -1.231 Td [(the)12.3 ( Stock)12.3 ( Exchange,)12.3 ( as)12.3 ( amended,)12.3 ( supplemented)12.3 ( or)48 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (otherwise modified from time to time)Tj -13.083 -2.462 Td (\223percentage ratio\224)Tj 0.043 Tc 0.07 Tw 13.083 0 Td [(has)12.7 ( the)12.7 ( meaning)12.6 ( ascribed)12.7 ( to)12.7 ( it)12.7 ( under)12.7 ( Rule)12.8 ( 1)12.7 (4)12.7 (.)12.7 (0)12.6 (4)12.7 (\()12.8 (9)12.7 (\))12.6 ( of)18 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Listing Rules)Tj ET endstreamendobj32 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 11 \226)Tj 0.027 Tw 13 0 0 13 56.6929 773.5878 Tm (As one or more of the applicable percentage ratios in respect of the hig\hest annual cap )Tj 0.019 Tw 0 -1.231 Td (for the transaction)Tj 0 Tc 0 Tw (s)Tj 0.025 Tc 0.019 Tw 8.202 0 Td ( under the Civil Engineering Agreements exceed 0.1% but less than )Tj 0.066 Tw -8.202 -1.231 Td (5%, the entering into of the Civil Engineering Agreements is subject to \the reporting, )Tj 0.056 Tc 0.07 Tw 0 -1.231 Td [(announcement)12.1 ( and)12.2 ( annual)12.2 ( review)12.2 ( requirements)12.2 ( but)12.2 ( exempt)12.2 ( from)12.2 ( the)12.2 ( circular)12.1 ( and)31 ( )]TJ 0.039 Tc 0 -1.231 Td [(independent)12.2 ( Shareholders\222)12.2 ( approval)12.1 ( requirements)12.2 ( under)12.1 ( Chapter)12.1 ( 1)12.2 (4)12.1 (A)12.1 ( of)12.2 ( the)12.2 ( Listing)14 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Rules.)Tj 0.044 Tc 0.07 Tw 0 -2.462 Td [(Pursuant)12.7 ( to)12.7 ( Rule)12.8 ( 1)12.7 (4)12.8 (A.)12.7 (5)12.8 (2)12.7 ( of)12.8 ( the)12.8 ( Listing)12.7 ( Rules,)12.7 ( as)12.7 ( the)12.8 ( term)12.7 ( of)12.7 ( each)12.7 ( of)12.7 ( the)12.7 ( TJ)12.7 (1)12.7 ( Civil)19 ( )]TJ 0.058 Tc 0 -1.231 Td [(Engineering)12.2 ( Agreement)12.1 ( and)12.1 ( the)12.1 ( TJ)12.1 (4)12.1 ( Civil)12.1 ( Engineering)12.1 ( Agreement)12.1 ( exceeds)12.1 ( three)33 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(years,)3 ( )0.5 (the)3 ( )0.5 (Company)3 ( )0.5 (has)3 ( )0.5 (appointed)3 ( )0.5 (the)3 ( )0.5 (Independent)3 ( )0.5 (Financial)3 ( )0.5 (Adviser)3 ( )0.5 (to)3 ( )0.5 (explain)3 ( )0.5 (why)3 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(a)4 ( )0.5 (t)0.6 (e)0.5 (r)0.5 (m)4 ( )0.5 (l)0.5 (o)0.6 (n)0.5 (g)0.5 (e)0.5 (r)4.1 ( t)0.6 (h)0.5 (a)0.5 (n)4 ( )0.5 (t)0.5 (h)0.6 (r)0.5 (e)0.5 (e)4.1 ( )0.5 (y)0.5 (e)0.5 (a)0.5 (r)0.6 (s)4 ( )0.5 (i)0.5 (s)4 ( )0.5 (r)0.6 (e)0.5 (q)0.5 (u)0.5 (i)0.6 (r)0.5 (e)0.5 (d)4 ( )0.5 (a)0.6 (n)0.5 (d)4 ( )0.5 (t)0.5 (o)4 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (f)0.5 (i)0.5 (r)0.6 (m)4 ( )0.5 (t)0.5 (h)0.5 (a)0.6 (t)4 ( )0.5 (i)0.5 (t)4 ( )0.5 (i)0.5 (s)4 ( )0.5 (a)4 ( )0.6 (n)0.5 (o)0.5 (r)0.5 (m)0.5 (a)0.6 (l)4 ( )0.5 (b)0.5 (u)0.5 (s)0.6 (i)0.5 (n)0.5 (e)0.5 (s)0.6 (s)4 ( )]TJ 0.067 Tc 0.07 Tw 0 -1.231 Td [(practice)12.4 ( for)12.3 ( agreements)12.3 ( of)12.3 ( this)12.3 ( type)12.3 ( to)12.3 ( be)12.3 ( of)12.3 ( such)12.3 ( duration.)12.3 ( The)12.3 ( opinion)12.3 ( of)12.4 ( the)42.1 ( )]TJ 0.042 Tc 0 -1.231 Td [(Independent)12.6 ( Financial)12.5 ( Adviser)12.5 ( is)12.5 ( set)12.6 ( out)12.5 ( in)12.5 ( the)12.5 ( section)12.5 ( headed)12.6 ( \223OPINIONS)12.5 ( FROM)17 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (THE INDEPENDENT FINANCIAL ADVISER\224 in this announcement.)Tj 0.023 Tc 0 -2.462 Td [(Among the existing Directors, Mr. Yuan Yingjie, Mr. Fan Ye and Mr. Huang\ Jianzhang)-2 ( )]TJ 0.025 Tc 0.047 Tw 0 -1.231 Td (are deemed to have material interests in the Civil Engineering Agreement\s as they are )Tj 0.037 Tc 0.071 Tw 0 -1.231 Td [(c)0.5 (u)0.5 (r)0.5 (r)0.5 (e)0.5 (n)0.5 (t)0.5 (l)0.5 (y)12 ( )0.5 (a)0.5 (l)0.5 (s)0.6 (o)12 ( )0.5 (e)0.5 (m)0.5 (p)0.5 (l)0.5 (o)0.5 (y)0.5 (e)0.5 (d)12 ( )0.5 (b)0.5 (y)12 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (m)0.5 (u)0.5 (n)0.5 (i)0.5 (c)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)12 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)12 ( )0.5 (a)0.6 (n)0.5 (d)12 ( )0.5 (h)0.5 (a)0.5 (v)0.5 (e)12 ( )0.5 (a)0.5 (b)0.5 (s)0.5 (t)0.5 (a)0.5 (i)0.5 (n)0.5 (e)0.5 (d)12 ( )0.5 (f)0.5 (r)0.6 (om)12 ( )0.6 (v)0.5 (o)0.5 (t)0.5 (i)0.5 (n)0.5 (g)11.9 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(on)5 ( )0.5 (the)5 ( )0.5 (relevant)5 ( )0.5 (Board)5 ( )0.5 (resolution.)5 ( )0.5 (Other)5 ( )0.5 (than)5 ( )0.5 (the)5 ( )0.5 (Directors)5 ( )0.5 (mentioned)5 ( )0.5 (above,)5 ( )0.5 (none)5 ( )0.5 (of)5 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(the)9.1 ( existing)9 ( )0.5 (Directors)9 ( )0.5 (have)9 ( )0.5 (material)9 ( )0.5 (interests)9 ( )0.6 (in)9 ( )0.5 (the)9 ( )0.5 (transactions)9 ( )0.5 (contemplated)9 ( )0.5 (under)9 ( )]TJ 0.025 Tc 0.019 Tw 0 -1.231 Td (the Civil Engineering Agreements, and none are required to abstain from \voting on the )Tj 0 Tw 0 -1.231 Td (relevant resolution of the Board.)Tj /T1_1 1 Tf -0.025 Tw 0 -2.462 Td (DEFINITIONS)Tj /T1_0 1 Tf 0.014 Tw 0 -2.462 Td (In this announcement, the following expressions shall have the meanings \set out below )Tj 0 Tw 0 -1.231 Td (unless the context requires otherwise:)Tj -0.025 Tw 0 -2.462 Td (\223Board\224)Tj 0 Tw 13.083 0 Td (the board of Directors of the Company)Tj -13.083 -2.462 Td (\223Communications Group\224)Tj 0.084 Tc 0.07 Tw 13.083 0 Td [(Zhejiang)12.4 ( Communications)12.4 ( Investment)12.4 ( Group)12.4 ( Co.,)58.9 ( )]TJ 0.038 Tc 0 -1.231 Td [(L)0.5 (t)0.5 (d)0.5 (.)0.5 (*)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.52 Tc -0.52 Tw 3.154 0 Td [<090F>0.5 <03EA>0.5 <07B2>0.5 <0374>0.5 <0BB7>0.5 <04B3>0.5 <0F1F>0.5 <0DAB>0.5 <0FA0>0.5 <03DE>0.5 <0822>0.6 <02AE0321>]TJ /T1_0 1 Tf 0.025 Tc 0.083 Tw 19.384 0 Td [(\))-12.5 (, )0.5 (a )]TJ 0.051 Tc 0.07 Tw -22.538 -1.231 Td [(state-controlled)12.7 ( enterprise)12.7 ( established)12.7 ( in)12.7 ( the)12.6 ( PRC)12.7 ( on)26 ( )]TJ 0.039 Tc 0 -1.231 Td [(December)12.6 ( 2)12.6 (9)12.6 (,)12.6 ( 2)12.6 (0)12.6 (0)12.6 (1)12.6 ( and)12.6 ( the)12.6 ( controlling)12.6 ( shareholder)12.6 ( of)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Company)Tj -0.025 Tw -13.083 -2.462 Td (\223Company\224)Tj 0.038 Tc 0.07 Tw 13.083 0 Td [(Z)0.5 (h)0.5 (e)0.5 (j)0.5 (i)0.5 (a)0.5 (n)0.5 (g)13 ( )0.5 (E)0.5 (x)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)13 ( )0.5 (C)0.5 (o)0.5 (.)0.5 (,)13 ( )0.5 (L)0.5 (t)0.5 (d)0.5 (.)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.409 Tc -0.409 Tw 14.531 0 Td <090F03EA101C060404F009F70BBA>Tj 0.238 Tc -0.238 Tw -14.531 -1.231 Td <02AE0F290670038503DE082202AE0321>Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 9.814 0 Td [(\))0.5 (,)13 ( )0.5 (a)13 ( )0.5 (j)0.5 (o)0.5 (i)0.5 (n)0.5 (t)13 ( )0.5 (s)0.5 (t)0.5 (o)0.5 (c)0.5 (k)13 ( )0.5 (l)0.5 (i)0.5 (m)0.5 (i)0.5 (t)0.5 (e)0.5 (d)13 ( )0.5 (c)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (ny)13 ( )]TJ 0.091 Tc -9.814 -1.231 Td [(established)12.6 ( in)12.6 ( the)12.7 ( PRC)12.7 ( on)12.7 ( March)12.6 ( 1)12.6 (,)12.6 ( 1)12.6 (9)12.6 (9)12.7 (7)12.6 (,)12.6 ( whose)66 ( )]TJ 0.067 Tc 0 -1.231 Td [(H)12.1 ( Shares)12.1 ( are)12.1 ( listed)12.1 ( on)12.2 ( the)12.1 ( main)12.1 ( board)12.1 ( of)12.1 ( the)12.1 ( Stock)42 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Exchange)Tj 0 Tw -13.083 -2.462 Td (\223connected person\(s\)\224)Tj 13.083 0 Td (has the meaning ascribed to it under the Listing Rules)Tj -13.083 -2.462 Td (\223controlling shareholder\224)Tj 13.083 0 Td (has the meaning ascribed to it under the Listing Rules)Tj ET endstreamendobj31 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 10 \226)Tj 0.064 Tc 0.07 Tw 13 0 0 13 56.6929 773.5878 Tm [(In)12.7 ( addition,)12.6 ( the)12.7 ( Group)12.7 ( went)12.7 ( through)12.7 ( a)12.7 ( tender)12.7 ( process)12.7 ( and)12.7 ( obtained)12.7 ( the)12.7 ( relevant)39 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 Td (quotations from other independent service providers to select the servic\e provider for )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(the)12.5 ( Project,)12.5 ( during)12.5 ( which)12.6 ( Jiaogong)12.6 ( Group)12.6 ( and)12.5 ( Jiaogong)12.5 ( Luqiao)12.6 ( won)12.5 ( the)12.5 ( respective)17 ( )]TJ 0.04 Tc 0 -1.231 Td [(te)0.5 (nd)0.5 (er)0.5 (s.)13 ( Th)0.5 (e)12.9 ( )0.5 (tr)0.5 (an)0.5 (sa)0.5 (ct)0.5 (ion)0.5 (s)12.9 ( )0.5 (co)0.5 (nte)0.5 (mp)0.5 (la)0.5 (te)0.5 (d)12.9 ( u)0.5 (nd)0.5 (er)13 ( th)0.5 (e)12.9 ( )0.5 (TJ)13 (1)12.9 ( )0.5 (Civ)0.5 (il)13 ( E)0.5 (ngi)0.5 (ne)0.5 (er)0.5 (ing)13 ( A)0.5 (gr)0.5 (ee)0.5 (me)0.5 (nt)15 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(and)11 ( )0.5 (the)11 ( )0.5 (TJ)11 (4)11 ( )0.5 (Civil)11 ( )0.5 (Engineering)11 ( )0.5 (Agreement)11 ( )0.5 (are)11 ( )0.5 (and)11 ( )0.5 (will)11 ( )0.5 (be)11.1 ( conducted)11 ( )0.5 (in)11 ( )0.5 (the)11 ( )0.5 (ordinary)11 ( )]TJ 0.041 Tc 0.07 Tw 0 -1.231 Td [(and)12.7 ( usual)12.8 ( course)12.8 ( of)12.8 ( business)12.7 ( of)12.8 ( the)12.8 ( Group,)12.8 ( and)12.8 ( the)12.8 ( consideration)12.8 ( under)12.8 ( each)12.8 ( of)12.7 ( the)16 ( )]TJ 0.055 Tc 0 -1.231 Td [(TJ)12.4 (1)12.4 ( Civil)12.4 ( Engineering)12.4 ( Agreement)12.4 ( and)12.4 ( the)12.4 ( TJ)12.4 (4)12.4 ( Civil)12.4 ( Engineering)12.4 ( Agreement)12.4 ( will)30 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(not)1 ( )0.5 (be)1.1 ( )0.5 (higher)1 ( )0.5 (than)1 ( )0.5 (the)1 ( )0.5 (average)1.1 ( )0.5 (market)1 ( )0.5 (price)1 ( )0.5 (and)0.9 ( )0.6 (will)1 ( )0.5 (not)1 ( )0.5 (be)1.1 ( )0.5 (less)1 ( )0.5 (favorable)1 ( )0.6 (than)1 ( )0.5 (those)1 ( )]TJ 0.05 Tc 0.07 Tw 0 -1.231 Td [(provided)12.2 ( by)12.2 ( other)12.2 ( parties)12.2 ( in)12.2 ( the)12.2 ( market)12.2 ( for)12.1 ( similar)12.2 ( services.)12.2 ( Given)12.2 ( the)12.2 ( above,)12.2 ( the)25 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.231 Td (Directors \(including the independent non-executive Directors\) are of t\he view that the )Tj 0.074 Tw 0 -1.231 Td (terms of each of the TJ1 Civil Engineering Agreement and the TJ4 Civil E\ngineering )Tj 0.057 Tc 0.07 Tw 0 -1.231 Td [(Agreement)12.9 ( are)12.9 ( on)12.9 ( nor)0.5 (mal)12.9 ( c)0.5 (ommercial)12.9 ( terms,)12.9 ( in)12.9 ( the)12.9 ( o)0.5 (rdinary)12.9 ( and)12.9 ( usual)12.9 ( course)12.9 ( of)32 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.231 Td (business of the Group and are fair and reasonable and in the interests o\f the Company )Tj 0 Tw 0 -1.231 Td (and the Shareholders as a whole.)Tj /T1_1 1 Tf 0 -2.462 Td (INFORMATION ON THE PARTIES)Tj /T1_0 1 Tf 0.03 Tc 0.078 Tw 0 -2.462 Td [(The)5 ( )0.5 (Project)5 ( )0.5 (Company)5 ( )0.5 (is)5 ( )0.6 (a)5 ( )0.5 (non)5 ( )0.5 (wholly)]TJ 0 Tc 0 Tw (-)Tj 0.03 Tc 0.078 Tw 17.021 0 Td [(owned)5 ( )0.5 (subsidiary)5 ( )0.6 (of)5.1 ( )0.5 (the)5 ( )0.5 (Company)5 ( )0.5 (established)5 ( )]TJ 0.052 Tc 0.07 Tw -17.021 -1.231 Td [(in)12.2 ( the)12.2 ( PRC.)12.2 ( The)12.2 ( Project)12.2 ( Company)12.2 ( is)12.2 ( principally)12.2 ( responsible)12.2 ( for)12.2 ( the)12.2 ( construction,)27 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (implementation and operation management of the Project.)Tj 0.056 Tc 0.07 Tw 0 -2.462 Td [(Jiaogong)12.7 ( Group)12.7 ( is)12.8 ( a)12.8 ( joint)12.7 ( stock)12.8 ( liability)12.7 ( company)12.8 ( established)12.7 ( in)12.8 ( the)12.8 ( PRC)12.7 ( and)12.7 ( an)31 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.231 Td (indirect non wholly-owned subsidiary of Communications Group as at the d\ate of this )Tj 0.064 Tw 0 -1.231 Td [(announcement. )0.5 (Jiaogong )0.5 (Group )0.5 (is )0.5 (principally )0.5 (engaged )0.5 (in )0.5 (the )0.5 (construction)]TJ 0 Tc 0 Tw (,)Tj 0.025 Tc 0.064 Tw 32.082 0 Td [( )0.5 (survey )0.5 (and )]TJ 0 Tw -32.082 -1.231 Td (design for construction engineering, and expressway management and maint\enance.)Tj 0.055 Tc 0.07 Tw 0 -2.462 Td [(Jiaogong)12 ( Luqiao)12.1 ( is)12 ( a)12.1 ( limited)12 ( liability)12.1 ( company)12.1 ( established)12.1 ( in)12.1 ( the)12.1 ( PRC.)12.1 ( Jiaogong)29.9 ( )]TJ 0.039 Tc 0 -1.231 Td [(Luqiao)12.8 ( is)12.7 ( an)12.7 ( indirect)12.8 ( non)12.8 ( wholly-owned)12.8 ( subsidiary)12.8 ( of)12.8 ( Communications)12.8 ( Group)12.7 ( as)12.7 ( at)14 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.231 Td (the date of this announcement. Jiaogong Luqiao is principally engaged in\ the business )Tj 0.048 Tc 0.07 Tw 0 -1.231 Td [(o)0.5 (f)13.1 ( )0.6 (t)0.5 (h)0.6 (e)13 ( )0.6 (c)0.6 (o)0.5 (n)0.5 (s)0.6 (t)0.5 (r)0.6 (u)0.6 (c)0.5 (t)0.6 (i)0.5 (o)0.6 (n)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.6 (t)0.5 (e)0.6 (c)0.6 (h)0.5 (n)0.6 (i)0.5 (c)0.6 (a)0.5 (l)13.1 ( )0.6 (s)0.5 (e)0.6 (r)0.5 (v)0.6 (i)0.5 (c)0.6 (e)0.6 (s)13 ( )0.6 (o)0.5 (f)13.1 ( )0.5 (t)0.6 (r)0.5 (a)0.6 (n)0.6 (s)0.5 (p)0.6 (o)0.5 (r)0.6 (t)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13.1 ( )0.5 (e)0.6 (n)0.5 (g)0.6 (i)0.5 (n)0.6 (e)0.6 (e)0.5 (r)0.6 (i)0.5 (n)0.6 (g)0.5 (,)13.1 ( )0.5 (h)0.6 (y)0.5 (d)0.6 (r)0.5 (a)0.6 (u)0.5 (l)0.6 (i)0.6 (c)23 ( )]TJ 0.047 Tc 0 -1.231 Td [(engineering,)12.2 ( construction)12.2 ( engineering,)12.2 ( municipal)12.2 ( engineering,)12.2 ( port)12.2 ( and)12.2 ( navigation)22 ( )]TJ 0.048 Tc 0 -1.231 Td [(engineering,)12.6 ( geotechnical)12.6 ( engineering,)12.6 ( landscaping)12.6 ( and)12.6 ( greening)12.6 ( engineering,)12.5 ( and)23 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (geological disaster prevention and control engineering.)Tj /T1_1 1 Tf 0 -2.462 Td (LISTING RULES IMPLICATIONS)Tj /T1_0 1 Tf 0.066 Tc 0.07 Tw 0 -2.462 Td [(As)12.6 ( at)12.6 ( the)12.6 ( date)12.6 ( of)12.7 ( this)12.7 ( announcement,)12.7 ( Communications)12.7 ( Group)12.6 ( is)12.7 ( the)12.7 ( controlling)41 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 Td [(shareholder)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Company.)10 ( )0.5 (As)10 ( )0.5 (at)10 ( )0.5 (the)10 ( )0.5 (date)10 ( )0.5 (of)10 ( )0.5 (this)10 ( )0.6 (announcement,)10 ( )0.5 (each)10 ( )0.5 (of)10 ( )0.5 (Jiaogong)10 ( )]TJ 0.095 Tc 0.07 Tw 0 -1.231 Td [(Group)12.3 ( and)12.3 ( Jiaogong)12.3 ( Luqiao)12.3 ( is)12.3 ( an)12.3 ( indirect)12.3 ( non)12.3 ( wholly)]TJ 0 Tc 0 Tw (-)Tj 0.095 Tc 0.07 Tw 27.13 0 Td [(owned)12.3 ( subsidiary)12.3 ( of)70 ( )]TJ 0.051 Tc -27.13 -1.231 Td [(Communications)12.1 ( Group,)12.1 ( and)12.1 ( is)12.1 ( therefore)12 ( a)12.1 ( connected)12 ( person)12 ( of)12.1 ( the)12 ( Company.)12 ( As)26 ( )]TJ 0.062 Tc 0 -1.231 Td [(a)12.5 ( result,)12.4 ( the)12.5 ( transactions)12.4 ( contemplated)12.4 ( under)12.5 ( the)12.5 ( Civil)12.4 ( Engineering)12.5 ( Agreements)37 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(constitute)8 ( )0.5 (continuing)8 ( )0.6 (connected)8 ( )0.5 (transactions)8 ( )0.5 (for)8.1 ( )0.5 (the)8.1 ( )0.5 (Company)8 ( )0.5 (under)8 ( )0.5 (Chapter)8 ( )0.5 (1)8 (4)8 (A)8 ( )0.5 (of)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Listing Rules.)Tj ET endstreamendobj30 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 9 \226)Tj 0.038 Tc 0.07 Tw 13 0 0 13 56.6929 773.5878 Tm [(The)12.6 ( Independent)12.6 ( Financial)12.6 ( Adviser)12.7 ( is)12.6 ( of)12.6 ( the)12.7 ( view)12.6 ( that)12.6 ( the)12.7 ( contract)12.6 ( term)12.7 ( for)12.6 ( each)12.6 ( of)13 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(the)2 ( )0.5 (TJ)2 (1)2 ( )0.5 (Civil)2 ( )0.5 (Engineering)2 ( )0.5 (Agreement)2 ( )0.5 (and)2 ( )0.5 (the)2 ( )0.5 (TJ)2 (4)2 ( Civil)2 ( )0.5 (Engineering)2 ( )0.5 (Agreement)2 ( both)2 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.231 Td [(exceeding)12.5 ( three)12.6 ( years,)12.5 ( is)12.6 ( necessary)12.5 ( and)12.5 ( commercially)12.5 ( reasonable)12.5 ( given)12.6 ( the)12.6 ( large)31 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(scale)6 ( )0.5 (and)6.1 ( )0.5 (complexity)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Project.)6 ( )0.5 (In)6.1 ( )0.5 (forming)6 ( )0.5 (this)6 ( )0.5 (view,)6 ( )0.5 (the)6.1 ( )0.5 (Independent)6.1 ( Financial)6 ( )]TJ 0.052 Tc 0.07 Tw 0 -1.231 Td [(Adviser)12.1 ( has)12.1 ( taken)12.1 ( into)12.1 ( account:)12.1 ( \(i\))12.1 ( the)12.1 ( contract)12.1 ( terms)12.1 ( of)12.1 ( comparable)12.1 ( transactions)27 ( )]TJ 0.055 Tc 0 -1.231 Td [(as)12.4 ( identified)12.4 ( from)12.4 ( the)12.4 ( Comparable)12.4 ( Transactions,)12.4 ( where)12.4 ( )]TJ 0.043 Tc -0.043 Tw (11)Tj 0.055 Tc 0.07 Tw [( out)12.4 ( of)12.4 ( 1)12.3 (8)12.4 ( Comparable)30 ( )]TJ 0.035 Tc -0.035 Tw 0 -1.231 Td (Transactions)Tj 0.073 Tw 5.52 0 Td [( )0.5 (had)10 ( )0.5 (a)10 ( )0.5 (contract)10 ( )0.5 (term)10 ( )0.5 (exceeding)10 ( )0.5 (three)10 ( )0.5 (years;)10 ( )0.5 (\(ii\))10 ( )0.5 (the)10 ( )0.5 (project\222s)10 ( )0.5 (significant)10.1 ( )]TJ 0.075 Tc 0.07 Tw -5.52 -1.231 Td [(scale,)12.2 ( technical)12.1 ( complexity,)12.1 ( and)12.1 ( the)12.1 ( need)12.1 ( for)12.1 ( sufficient)12.1 ( time)12.1 ( to)12.1 ( ensure)12.2 ( proper)50 ( )]TJ 0.025 Tc 0.033 Tw 0 -1.231 Td (completion of all required works; and \(iii\) the normal business practi\ce in the industry )Tj 0.063 Tc 0.07 Tw 0 -1.231 Td [(f)0.5 (o)0.5 (r)13 ( )0.5 (s)0.5 (i)0.5 (m)0.5 (i)0.5 (l)0.5 (a)0.5 (r)13 ( )0.5 (l)0.5 (a)0.5 (r)0.5 (g)0.5 (e)0.5 (-)0.5 (s)0.5 (c)0.5 (a)0.5 (l)0.5 (e)13 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)13 ( )0.5 (e)0.5 (n)0.5 (g)0.5 (i)0.5 (n)0.5 (e)0.5 (e)0.5 (r)0.5 (i)0.5 (n)0.5 (g)0.5 (/c)0.6 (on)0.5 (s)0.5 (t)0.5 (r)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (a)0.5 (g)0.5 (r)0.5 (e)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (s)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (h)0.5 (a)0.5 (v)0.5 (e)38 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(longer)5 ( )0.5 (durations.)5 ( )0.5 (Accordingly,)5 ( )0.5 (the)5 ( )0.5 (Independent)5 ( )0.6 (Financial)5 ( )0.5 (Adviser)5 ( )0.5 (considers)5 ( )0.5 (that)5 ( )0.5 (it)5 ( )0.5 (is)5 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.231 Td (a normal commercial practice for TJ1 Civil Engineering Agreement and the\ TJ4 Civil )Tj 0 Tw 0 -1.231 Td (Engineering Agreement to be of such duration.)Tj /T1_1 1 Tf 0.128 Tc 0.07 Tw 0 -2.462 Td [(REASONS)12.8 ( FOR)12.8 ( AND)12.9 ( BENEFITS)12.8 ( OF)12.9 ( ENTERING)12.8 ( INTO)12.9 ( THE)12.8 ( CIVIL)103 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (ENGINEERING AGREEMENTS)Tj /T1_0 1 Tf 0.042 Tc 0.07 Tw 0 -2.462 Td [(The)12.3 ( transactions)12.4 ( contemplated)12.3 ( under)12.4 ( the)12.4 ( TJ)12.4 (1)12.3 ( Civil)12.4 ( Engineering)12.4 ( Agreement)12.3 ( and)12.4 ( the)17 ( )]TJ 0.055 Tc 0 -1.231 Td [(TJ)12.5 (4)12.4 ( Civil)12.5 ( Engineering)12.5 ( Agreement)12.5 ( reflect)12.5 ( the)12.5 ( practical)12.4 ( needs)12.4 ( for)12.5 ( the)12.5 ( construction)30 ( )]TJ 0.05 Tc 0 -1.231 Td [(o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (P)0.5 (r)0.5 (o)0.5 (j)0.5 (e)0.5 (c)0.6 (t)0.5 (.)13 ( )0.5 (B)0.5 (y)13 ( )0.5 (i)0.5 (m)0.5 (p)0.6 (le)0.6 (m)0.5 (e)0.5 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.6 (t)0.5 (h)0.5 (e)13 ( )0.5 (P)0.5 (r)0.5 (o)0.5 (j)0.5 (e)0.6 (c)0.5 (t)]TJ 0 Tc 0 Tw 19.889 0 Td (,)Tj 0.05 Tc 0.07 Tw 0.287 0 Td [( )0.5 (t)0.5 (o)0.5 (g)0.5 (e)0.6 (t)0.5 (h)0.5 (e)0.5 (r)13 ( )0.5 (w)0.5 (i)0.5 (t)0.6 (h)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (e)0.5 (x)0.5 (i)0.6 (s)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (Y)0.5 (o)0.5 (n)0.6 (g)0.5 (z)0.5 (h)0.5 (o)0.5 (u)25 ( )]TJ 0.027 Tc -0.027 Tw -20.176 -1.231 Td (Expressway)Tj 0 Tc 0 Tw (,)Tj 5.38 0 Td ( )Tj 0.027 Tc 0.081 Tw 0.358 0 Td [(a)2 ( )0.5 (\223dua)]TJ -0.027 Tw (l-c)Tj 0.081 Tw [(hannel\224)2 ( )0.5 (strategic)2 ( )0.5 (corridor)2 ( )0.5 (will)2 ( be)2 ( )0.5 (formed)2 ( )]TJ 22.18 0 Td [(connecting)2 ( )0.5 (Zhoushan)2 ( )]TJ 0.042 Tc 0.07 Tw -27.918 -1.231 Td [(Island)12.3 ( to)12.3 ( the)12.3 ( )]TJ -0.042 Tw (mainland)Tj 0.07 Tw 10.004 0 Td [( which)12.3 ( promotes)12.3 ( integrated)12.3 ( land-sea)12.3 ( development,)12.4 ( providing)17 ( )]TJ 0.041 Tc -10.004 -1.231 Td [(a)12.2 ( reliable)12.2 ( guarantee)12.2 ( for)12.1 ( the)12.2 ( further)12.2 ( growth)12.1 ( of)12.2 ( cross-sea)12.1 ( traffic)12.2 ( between)12.1 ( Ningbo)12.2 ( and)16 ( )]TJ 0.053 Tc 0.071 Tw 0 -1.231 Td [(Zhoushan.)12 ( )0.5 (This)12 ( )0.5 (is)12 ( )0.6 (of)12.1 ( )0.5 (great)12 ( )0.6 (significance)12 ( )0.6 (for)12.1 ( )0.5 (Zhejiang)12.1 ( )0.5 (Province)12.1 ( )0.5 (in)12 ( )0.5 (accelerating)12 ( )0.6 (the)28.1 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(construction)4 ( )0.5 (of)4 ( )0.5 (a)4.1 ( )0.5 (world-class)4 ( )0.5 (strong)4 ( )0.5 (port,)4 ( )0.5 (advancing)4 ( )0.5 (the)4 ( )0.5 (high-quality)4 ( )0.5 (development)4 ( )0.5 (of)4 ( )]TJ 0.025 Tc 0.055 Tw 0 -1.231 Td (the marine economy, and building a demonstration zone for common prosper\ity. With )Tj 0 Tw 0 -1.231 Td (its prime location and high traffic volume, the Project is expected to g\enerate increased )Tj 0.05 Tc 0.07 Tw 0 -1.231 Td [(toll)12.9 ( revenue)12.9 ( for)12.9 ( the)12.9 ( Group,)12.8 ( further)12.9 ( strengthening)12.9 ( sustainable)12.8 ( development)12.8 ( of)12.9 ( core)25 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (expressway businesses of the Group.)Tj 0.053 Tc 0.07 Tw 0 -2.462 Td [(As)12.3 ( subsidiaries)12.2 ( of)12.3 ( Communications)12.2 ( Group,)12.2 ( Jiaogong)12.2 ( Group)12.2 ( and)12.2 ( Jiaogong)12.2 ( Luqiao)28 ( )]TJ 0.046 Tc 0 -1.231 Td [(f)0.5 (u)0.6 (l)0.5 (l)0.5 (y)13 ( )0.5 (u)0.6 (n)0.5 (d)0.5 (e)0.5 (r)0.6 (s)0.5 (t)0.5 (a)0.5 (n)0.6 (d)13 ( )0.5 (t)0.5 (h)0.6 (e)13 ( )0.5 (G)0.6 (r)0.5 (o)0.5 (u)0.5 (p)0.5 (\222)0.6 (s)13 ( )0.5 (b)0.6 (u)0.5 (s)0.5 (i)0.5 (n)0.5 (e)0.6 (s)0.5 (s)13 ( )0.6 (a)0.5 (n)0.5 (d)13 ( )0.6 (o)0.5 (p)0.5 (e)0.5 (r)0.6 (a)0.5 (t)0.5 (i)0.5 (n)0.6 (g)13 ( )0.5 (n)0.5 (e)0.6 (e)0.5 (d)0.5 (s)0.5 (,)13.1 ( )0.5 (a)0.5 (n)0.6 (d)13 ( )0.5 (m)0.5 (a)0.6 (i)0.5 (n)0.5 (t)0.5 (a)0.6 (i)0.5 (n)13 ( )0.5 (e)0.6 (f)0.5 (f)0.5 (e)0.5 (c)0.6 (t)0.5 (i)0.5 (v)0.5 (e)21.1 ( )]TJ 0.057 Tc 0 -1.231 Td [(communication)12.5 ( to)12.6 ( provide)12.5 ( more)12.6 ( quality)12.5 ( services)12.5 ( to)12.6 ( the)12.5 ( Group.)12.6 ( Each)12.5 ( of)12.6 ( Jiaogong)32 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)2 ( )0.5 (an)0.5 (d)2 ( )0.5 (J)0.5 (i)0.5 (a)0.5 (o)0.5 (g)0.5 (o)0.5 (n)0.5 (g)2 ( L)0.5 (u)0.5 (q)0.5 (i)0.5 (a)0.5 (o)2 ( )0.5 (h)0.5 (a)0.5 (s)2 ( )0.5 (th)0.5 (e)2 ( )0.5 (r)0.5 (e)0.5 (l)0.5 (e)0.5 (v)0.5 (a)0.5 (n)0.5 (t)2 ( )0.5 (q)0.5 (u)0.5 (a)0.5 (l)0.5 (if)0.5 (i)0.5 (c)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)2 ( )0.5 (a)0.5 (n)0.5 (d)1.9 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (e)0.5 (r)0.5 (i)0.5 (e)0.5 (n)0.5 (c)0.5 (e)2 ( )0.5 (t)0.5 (o)2 ( p)0.5 (r)0.5 (o)0.5 (v)0.5 (i)0.5 (d)0.5 (e)2 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.231 Td [(t)0.5 (h)0.5 (e)13 ( )0.5 (c)0.5 (o)0.6 (n)0.5 (s)0.5 (t)0.5 (r)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (s)0.5 (e)0.5 (r)0.6 (v)0.5 (i)0.5 (c)0.5 (e)0.5 (s)13 ( )0.5 (f)0.5 (o)0.5 (r)13 ( )0.6 (N)0.5 (i)0.5 (n)0.5 (g)0.5 (b)0.5 (o)13 ( )0.5 (Q)0.5 (i)0.5 (j)0.5 (i)0.5 (a)0.5 (s)0.6 (h)0.5 (a)0.5 (n)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (Z)0.5 (h)0.5 (o)0.5 (u)0.5 (s)0.5 (h)0.5 (a)0.5 (n)13 ( )0.6 (J)0.5 (i)0.5 (n)0.5 (t)0.5 (a)0.5 (n)0.5 (g)13 ( )0.5 (S)0.5 (e)0.5 (c)0.6 (ti)0.5 (o)0.5 (n)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (G)13 (9)13 (2)15 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Hangzhou Bay Roundabout Expressway.)Tj ET endstreamendobj29 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 8 \226)Tj 0.043 Tw 13 0 0 13 85.0394 773.5878 Tm (Given the breadth of the obligations assumed by the contractors, the Ind\ependent )Tj 0.022 Tc 0 Tw 0 -1.231 Td [(Financial Adviser is satisfied that the term of each agreement must be l\ong enough)-3 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(t)0.5 (o)12.9 ( )0.5 (e)0.5 (ns)0.5 (u)0.5 (re)13 ( )0.5 (t)0.5 (ha)0.5 (t)13 ( a)0.5 (l)0.5 (l)12.9 ( )0.5 (c)0.5 (on)0.5 (s)0.5 (tr)0.5 (u)0.5 (c)0.5 (ti)0.5 (on)13 ( )0.5 (wo)0.5 (r)0.5 (k)0.5 (s)12.9 ( )0.5 (c)0.5 (an)13 ( )0.5 (b)0.5 (e)12.9 ( )0.5 (f)0.5 (ul)0.5 (l)0.5 (y)12.9 ( )0.5 (a)0.5 (nd)13 ( )0.5 (co)0.5 (n)0.5 (ti)0.5 (n)0.5 (uo)0.5 (u)0.5 (sl)0.5 (y)13 ( p)0.5 (e)0.5 (rf)0.5 (o)0.5 (rm)0.5 (e)0.5 (d)18 ( )]TJ 0.06 Tc 0 -1.231 Td [(within)12.1 ( the)12.2 ( contractual)12.2 ( period.)12.2 ( Entering)12.2 ( into)12.2 ( shorter-term)12.1 ( agreements)12.2 ( would)35 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.231 Td (expose the Project Company to unnecessary renewal risk, duplicative tend\er costs )Tj 0.024 Tc 0 Tw 0 -1.231 Td (and potential discontinuity of services, which would not be commercially\ prudent.)Tj 0.026 Tc 0.082 Tw 0 -2.462 Td [(Taking)1 ( )0.5 (into)1 ( )0.5 (account)1 ( )0.5 (\(i\))1 ( )0.5 (the)1.1 ( )0.5 (scale)1.1 ( )0.5 (and)1 ( )0.5 (complexity)1 ( )0.5 (of)1 ( )0.5 (the)1.1 ( )0.5 (Project;)1 ( )0.5 (and)1 ( )0.5 (\(ii\))1 ( )0.5 (the)1.1 ( )0.5 (fact)1 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.231 Td (that the respective durations of the TJ1 Civil Engineering Agreement and\ the TJ4 )Tj 0 Tw 0 -1.231 Td (Civil Engineering Agreement cover the entire construction phase, the Ind\ependent )Tj 0.056 Tc 0.07 Tw 0 -1.231 Td [(Financial)12.5 ( Adviser)12.6 ( is)12.6 ( of)12.6 ( the)12.6 ( opinion)12.6 ( that)12.5 ( a)12.6 ( term)12.5 ( of)12.5 ( longer)12.6 ( than)12.5 ( three)12.6 ( years)12.5 ( is)31 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(necessary)2 ( )0.5 (and)2 ( appropriate)2 ( )0.5 (for)1.9 ( )0.5 (each)2 ( )0.5 (of)2 ( )0.5 (the)2 ( )0.5 (TJ)2 (1)2 ( )0.5 (Civil)2 ( )0.5 (Engineering)2 ( )0.5 (Agreement)2 ( )0.5 (and)2 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the TJ4 Civil Engineering Agreement.)Tj /T1_1 1 Tf -2.181 -2.462 Td (Whether a term exceeding three years is a normal business practice)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw 0 -2.462 Td [(Having)12.4 ( considered)12.4 ( the)12.4 ( following)12.4 ( principal)12.4 ( factors)12.4 ( and)12.5 ( reasons,)12.4 ( the)12.4 ( Independent)37 ( )]TJ 0.06 Tc 0 -1.231 Td [(Financial)12.8 ( Adviser)12.7 ( considers)12.8 ( that)12.8 ( the)12.8 ( terms)12.7 ( of)12.8 ( over)12.8 ( three)12.8 ( years)12.8 ( of)12.8 ( the)12.8 ( continuing)34.9 ( )]TJ 0.041 Tc 0 -1.231 Td [(co)0.5 (nnec)0.5 (ted)12.9 ( )0.5 (tra)0.5 (nsac)0.5 (tions)13 ( und)0.5 (er)12.9 ( )0.5 (eac)0.5 (h)12.9 ( of)13 ( the)13 ( TJ)13 (1)12.9 ( Civ)0.5 (il)12.9 ( E)0.5 (ngine)0.5 (eri)0.5 (ng)12.9 ( A)0.5 (gree)0.5 (men)0.5 (t)12.9 ( an)0.5 (d)12.9 ( th)0.5 (e)16 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (TJ4 Civil Engineering Agreement is necessary and it is a normal business\ practice for )Tj 0 Tw 0 -1.231 Td (agreements of such type to be of such duration.)Tj 0.065 Tw 0 -2.462 Td (The Independent Financial Adviser, to the best of its knowledge and effo\rt, identified )Tj 0.042 Tc -0.042 Tw 0 -1.231 Td (11)Tj 0.054 Tc 0.07 Tw [( companies)12.3 ( listed)12.3 ( on)12.3 ( the)12.4 ( Main)12.3 ( Board)12.3 ( of)12.3 ( Stock)12.3 ( Exchange)12.3 ( which)12.3 ( are)12.3 ( principally)29 ( )]TJ 0.046 Tc 0 -1.231 Td [(engaged)12.8 ( in)12.7 ( operating)12.7 ( expressways)12.7 ( in)12.7 ( the)12.7 ( PRC.)12.8 ( The)12.7 ( Independent)12.7 ( Financial)12.7 ( Adviser)21 ( )]TJ 0.025 Tc 0.066 Tw 0 -1.231 Td (has reviewed respective announcements during the period of approximately\ two years )Tj 0.038 Tc 0.07 Tw 0 -1.231 Td [(prior)12.7 ( to)12.7 ( the)12.7 ( date)12.7 ( of)12.7 ( the)12.6 ( Civil)12.7 ( Engineering)12.7 ( Agreements)12.7 ( and)12.6 ( identified)12.7 ( )]TJ 0.025 Tc -0.025 Tw (18)Tj 0.038 Tc 0.07 Tw [( comparable)13 ( )]TJ 0.042 Tc 0 -1.231 Td [(transactions)12.3 ( involving)12.3 ( engineering)12.3 ( works)12.3 ( related)12.3 ( to)12.3 ( construction)12.3 ( of)12.4 ( expressways)12.4 ( in)17 ( )]TJ 0.04 Tc 0 -1.231 Td [(the)12.7 ( PRC)12.7 ( \(the)12.7 ( \223)]TJ /T1_1 1 Tf [(Comparable)12.7 ( Transactions)]TJ /T1_0 1 Tf [(\224\).)12.7 ( The)12.7 ( contract)12.7 ( terms)12.7 ( of)12.7 ( the)12.7 ( Comparable)15 ( )]TJ 0.066 Tc 0 -1.231 Td [(Transactions)12.6 ( ranged)12.6 ( from)12.6 ( 7)12.6 ( months)12.6 ( to)12.6 ( 6)12.6 (1)12.6 ( months,)12.6 ( typically)12.6 ( covering)12.6 ( the)12.6 ( entire)41 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.231 Td (duration of the construction phase of the projects. The Independent Fina\ncial Adviser )Tj 0.069 Tw 0 -1.231 Td [(also )0.5 (noted that )]TJ 6.689 0 Td [(11 )0.5 (out )0.5 (of )0.5 (the )0.5 (18)]TJ [( Comparable )0.5 (Transactions )0.5 (had a contract )0.5 (term )0.5 (of )0.5 (over )]TJ 0.042 Tc 0.07 Tw -6.689 -1.231 Td [(three)12.4 ( years.)12.4 ( The)12.4 ( term)12.5 ( of)12.5 ( each)12.4 ( of)12.4 ( the)12.5 ( TJ)12.5 (1)12.4 ( Civil)12.4 ( Engineering)12.4 ( Agreement)12.4 ( and)12.5 ( the)12.4 ( TJ)12.4 (4)17.1 ( )]TJ 0.049 Tc 0 -1.231 Td [(Civil)12.6 ( Engineering)12.6 ( Agreement,)12.5 ( which)12.6 ( is)12.6 ( catered)12.6 ( to)12.6 ( cover)12.6 ( the)12.6 ( duration)12.6 ( of)12.6 ( the)12.6 ( entire)24 ( )]TJ 0.053 Tc 0 -1.231 Td [(construction)12.2 ( phase)12.2 ( of)12.1 ( Section)12.1 ( TJ)12.2 (1)12.1 ( and)12.1 ( Section)12.1 ( TJ)12.2 (4)12.1 ( of)12.1 ( the)12.2 ( Project)12.1 ( respectively,)12.2 ( is)28 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (therefore comparable with that of the Comparable Transactions.)Tj ET endstreamendobj27 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 7 \226)Tj /T1_1 1 Tf 13 0 0 13 56.6929 773.5878 Tm (Reasons for terms exceeding three years)Tj 13 0 3.4833 13 55.3588 744.5878 Tm [(\(i\) )-886.5 (Scale of the Project)]TJ /T1_0 1 Tf 0.059 Tc 0.07 Tw 13 0 0 13 85.0394 715.5878 Tm [(The)12.3 ( Project)12.4 ( involves)12.3 ( the)12.4 ( construction)12.3 ( of)12.3 ( the)12.3 ( Ningbo)12.4 ( Qijiashan)12.3 ( to)12.3 ( Zhoushan)33.9 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.115 Td [(Jintang)4 ( )0.5 (section)4 ( )0.5 (of)4 ( )0.6 (the)4 ( )0.5 (G)4 (9)4 (2)4 ( )0.5 (Hangzhou)4 ( )0.5 (Bay)4 ( )0.5 (Roundabout)4 ( )0.5 (Expressway,)4.1 ( )0.5 (with)4 ( )0.5 (a)4.1 ( )0.5 (total)4 ( )]TJ 0.025 Tc 0.08 Tw 0 -1.115 Td (length of approximately 18 kilometers. The Ningbo section is approximate\ly 5.5 )Tj 0.041 Tw 0 -1.115 Td [(kilometers, and the )0.5 (Zhoushan )0.5 (section is approximately 12.5 kilometers. It will )0.5 (be )]TJ 0.038 Tc 0.07 Tw 0 -1.115 Td [(constructed)12.3 ( according)12.3 ( to)12.2 ( the)12.3 ( standard)12.2 ( for)12.3 ( a)12.2 ( two-way)12.3 ( six-lane)12.3 ( expressway,)12.3 ( with)13 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.115 Td [(a)4 ( )0.5 (design)4 ( )0.5 (speed)4 ( )0.5 (of)4 ( )0.5 (1)4 (0)4 (0)4 ( )0.6 (kilometer/hour,)4 ( )0.5 (while)4 ( )0.5 (the)4 ( )0.5 (Jintang)4 ( )0.5 (undersea)4 ( )0.5 (tunnel)4 ( )0.5 (section)4 ( )]TJ 0.041 Tc 0.07 Tw 0 -1.115 Td [(w)0.6 (i)0.5 (t)0.5 (h)13.1 ( )0.5 (a)13.1 ( )0.6 (d)0.5 (e)0.6 (s)0.5 (i)0.5 (g)0.6 (n)13 ( )0.6 (s)0.5 (p)0.6 (e)0.5 (e)0.6 (d)13 ( )0.6 (o)0.5 (f)13.1 ( )0.5 (8)13.1 (0)13 ( )0.6 (k)0.5 (i)0.6 (l)0.5 (o)0.6 (m)0.5 (e)0.6 (t)0.5 (e)0.6 (r)0.5 (/)0.6 (h)0.5 (o)0.5 (u)0.6 (r)0.5 (.)13.1 ( )0.5 (T)0.6 (h)0.5 (e)13.1 ( )0.5 (m)0.6 (a)0.5 (i)0.6 (n)0.5 (l)0.6 (i)0.5 (n)0.6 (e)13 ( )0.6 (w)0.5 (i)0.6 (l)0.5 (l)13 ( )0.6 (i)0.6 (n)0.5 (c)0.6 (l)0.5 (u)0.5 (d)0.6 (e)13 ( )0.6 (5)13 ( )0.6 (b)0.5 (r)0.6 (i)0.5 (d)0.6 (g)0.5 (e)0.6 (s)16 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.115 Td (totaling 5,175 meters, one Jintang undersea tunnel, two interchanges \(J\intang hub )Tj 0.043 Tc 0.07 Tw 0 -1.115 Td [(and)12.5 ( Dapukou)12.5 ( interchange\),)12.5 ( one)12.6 ( toll)12.6 ( gate,)12.5 ( one)12.6 ( parking)12.6 ( area)12.5 ( \(interconnecting)12.5 ( to)18 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.115 Td [(th)0.5 (e)8 ( )0.5 (Da)0.5 (pu)0.5 (kou)8 ( )0.5 (i)0.5 (nter)0.5 (ch)0.5 (ang)0.5 (e\))0.5 (,)8 ( )0.5 (one)8.1 ( )0.5 (mon)0.5 (itor)0.5 (ing)8.1 ( )0.5 (and)8 ( )0.6 (comm)0.5 (uni)0.5 (ca)0.5 (tio)0.5 (ns)8 ( )0.5 (s)0.5 (ub-)0.5 (cen)0.5 (te)0.5 (r,)8 ( )0.5 (on)0.5 (e)8 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.115 Td [(tunnel)12.4 ( monitoring)12.3 ( and)12.3 ( communications)12.4 ( station,)12.4 ( two)12.4 ( tunnel)12.4 ( rescue)12.4 ( stations,)12.3 ( one)13 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.115 Td [(maintenance)7 ( )0.5 (zone,)7 ( )0.5 (along)7 ( )0.5 (with)7 ( )0.5 (necessary)7 ( )0.5 (auxiliary)7 ( )0.5 (traffic)7 ( )0.5 (management)7 ( )0.5 (buildings)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.115 Td (and facilities.)Tj 0.048 Tc 0.07 Tw 0 -2.231 Td [(Considering)12.1 ( the)12.2 ( overall)12.1 ( scale)12.1 ( and)12.1 ( complexity)12.1 ( of)12.1 ( the)12.1 ( Project,)12.1 ( the)12.1 ( construction)23 ( )]TJ 0 -1.115 Td [(p)0.5 (h)0.5 (a)0.6 (s)0.5 (e)13 ( )0.5 (i)0.5 (s)13.1 ( )0.5 (e)0.5 (s)0.5 (t)0.5 (i)0.6 (m)0.5 (a)0.5 (t)0.5 (e)0.5 (d)13 ( )0.6 (t)0.5 (o)13 ( )0.5 (t)0.5 (a)0.6 (k)0.5 (e)13 ( )0.5 (a)0.6 (p)0.5 (p)0.5 (r)0.5 (o)0.5 (x)0.5 (i)0.5 (m)0.5 (a)0.6 (t)0.5 (e)0.5 (l)0.5 (y)13 ( )0.6 (f)0.5 (o)0.5 (u)0.5 (r)13 ( )0.6 (t)0.5 (o)13 ( )0.5 (f)0.5 (i)0.5 (v)0.5 (e)13.1 ( )0.5 (y)0.5 (e)0.5 (a)0.6 (r)0.5 (s)0.5 (.)13 ( )0.5 (I)0.6 (n)13 ( )0.5 (p)0.5 (a)0.5 (r)0.6 (t)0.5 (i)0.5 (c)0.5 (u)0.5 (l)0.5 (a)0.6 (r)0.5 (,)13 ( )0.5 (t)0.5 (h)0.5 (e)23.1 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.115 Td [(stipulated)3 ( )0.5 (planned)3 ( )0.5 (construction)3 ( )0.5 (period)3 ( )0.5 (for)3 ( )0.5 (the)3 ( )0.6 (TJ)3 (1)3 ( )0.5 (Civil)3 ( )0.5 (Engineering)3 ( )0.5 (Agreement)3 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.115 Td (is 1,672 calendar days \(55 months\), and for the TJ4 Civil Engineering \Agreement )Tj 0.044 Tc 0.07 Tw 0 -1.115 Td [(is)12.9 ( 1)13 (,)12.9 (4)12.9 (9)12.9 (1)12.9 ( cale)0.5 (ndar)12.9 ( )0.5 (days)12.9 ( \()12.9 (4)13 (9)12.9 ( months\).)13 ( The)12.9 ( I)0.5 (ndepend)0.5 (ent)12.9 ( Fina)0.5 (ncial)12.9 ( A)0.5 (dvisor)12.9 ( n)0.5 (oted)19 ( )]TJ 0.048 Tc 0 -1.115 Td [(from)12.4 ( the)12.4 ( concession)12.4 ( operator)12.4 ( tender)12.4 ( announcement)12.4 ( released)12.4 ( by)12.4 ( the)12.4 ( Zhoushan)23 ( )]TJ 0.038 Tc 0 -1.115 Td [(B)0.5 (r)0.5 (i)0.5 (d)0.5 (g)0.5 (e)13 ( )0.5 (C)0.5 (o)0.5 (n)0.5 (s)0.5 (t)0.5 (r)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (M)0.5 (a)0.5 (n)0.5 (a)0.5 (g)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (C)0.5 (e)0.5 (n)0.5 (t)0.5 (e)0.5 (r)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.449 Tc -0.449 Tw 18.914 0 Td <040B02860339027D12D707140BA3104D0B23029502D0>Tj /T1_0 1 Tf 0.025 Tc -0.025 Tw 15.641 0 Td (\) )Tj 0.038 Tc 0.07 Tw -34.555 -1.115 Td [(a)0.5 (n)0.5 (d)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (N)0.5 (i)0.5 (n)0.5 (g)0.5 (b)0.5 (o)13 ( )0.5 (H)0.5 (i)0.5 (g)0.5 (h)0.5 (-)0.5 (G)0.5 (r)0.5 (a)0.5 (d)0.5 (e)13 ( )0.5 (H)0.5 (i)0.5 (g)0.5 (h)0.5 (w)0.5 (a)0.5 (y)13 ( )0.5 (C)0.5 (o)0.5 (n)0.5 (s)0.5 (t)0.5 (r)0.5 (u)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (M)0.5 (a)0.5 (n)0.5 (a)0.5 (g)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (C)0.5 (e)0.5 (n)0.5 (t)0.5 (e)0.5 (r)13 ( )0.5 (\()]TJ /C0_0 1 Tf 0.346 Tc -0.346 Tw 32.542 0 Td <0FB9062A>Tj 0.333 Tc -0.333 Tw -32.542 -1.115 Td <033909F70D03097402AE0F2907140BA3104D0B23029502D0>Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 15.812 0 Td [(\))13 ( )0.5 (o)0.5 (n)13 ( )0.5 (J)0.5 (a)0.5 (n)0.5 (u)0.5 (a)0.5 (r)0.5 (y)13 ( )0.5 (2)13 (7)13 (,)13 ( )0.5 (2)13 (0)13 (2)13 (5)13 (,)13 ( )0.5 (i)0.5 (n)0.5 (di)0.5 (c)0.6 (a)0.5 (t)0.5 (e)0.5 (s)13 ( )0.5 (a)13 ( )0.5 (t)0.5 (e)0.5 (n)0.5 (t)0.5 (a)0.5 (t)0.5 (i)0.5 (v)0.5 (e)13 ( )]TJ 0.025 Tc 0.006 Tw -15.812 -1.115 Td [(construction period of 5 years for the Project. The agreement )0.5 (durations mentioned )]TJ 0 Tw 0 -1.115 Td (above fall within the construction timeframe proposed by the relevant go\vernment )Tj -0.025 Tw 0 -1.115 Td (authorities.)Tj /T1_1 1 Tf 0 Tw 13 0 3.4833 13 55.3588 324.0878 Tm [(\(ii\) )-583.5 (Scope of services under the Civil Engineering Agreements)]TJ /T1_0 1 Tf 0.038 Tw 13 0 0 13 85.0394 295.0878 Tm (The TJ1 Civil Engineering Agreement \(entered into among the Project Com\pany, )Tj 0.04 Tc 0.07 Tw 0 -1.115 Td [(China)12.6 ( Railway)12.5 ( 1)12.6 (4)12.5 (th)12.5 ( Bureau)12.6 ( Group)12.5 ( Co.,)12.5 ( Ltd.)12.5 ( and)12.6 ( Jiaogong)12.5 ( Group\))12.5 ( and)12.5 ( the)12.6 ( TJ)12.6 (4)14.9 ( )]TJ 0.045 Tc 0 -1.115 Td [(Civil)12.5 ( Engineering)12.6 ( Agreement)12.5 ( \(entered)12.6 ( into)12.6 ( between)12.6 ( the)12.6 ( Project)12.6 ( Company)12.5 ( and)20 ( )]TJ 0.044 Tc 0 -1.115 Td [(Jiaogong)12.3 ( Luqiao\))12.3 ( are)12.3 ( each)12.3 ( structured)12.3 ( to)12.3 ( cover)12.3 ( the)12.3 ( entirety)12.3 ( of)12.3 ( the)12.4 ( construction)19 ( )]TJ 0.025 Tc 0.036 Tw 0 -1.115 Td (activities necessary for their respective contract sections, in particul\ar, \(i\) section )Tj 0.045 Tc 0.07 Tw 0 -1.115 Td [(TJ)12.7 (1)12.6 ( covers)12.7 ( subgrade)12.6 ( works,)12.7 ( open-cut)12.6 ( U-shaped)12.7 ( trough)12.6 ( for)12.6 ( both)12.6 ( Left)12.6 ( Line)12.7 ( and)20 ( )]TJ 0.048 Tc 0 -1.115 Td [(R)0.5 (i)0.5 (g)0.5 (h)0.5 (t)13 ( L)0.5 (i)0.5 (n)0.5 (e)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (s)0.5 (hi)0.5 (e)0.5 (l)0.5 (d)0.5 (e)0.5 (d)13 ( )0.5 (u)0.5 (n)0.5 (d)0.5 (e)0.5 (r)0.5 (s)0.5 (e)0.5 (a)13 ( )0.5 (t)0.5 (un)0.5 (n)0.5 (e)0.5 (l)13 ( )0.5 (f)0.5 (o)0.5 (r)13 ( )0.5 (R)0.5 (i)0.5 (g)0.5 (ht)13 ( )0.5 (L)0.5 (i)0.5 (n)0.5 (e)13 ( )0.5 (\()0.5 (i)0.5 (n)0.5 (c)0.5 (l)0.5 (ud)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (t)0.5 (u)0.5 (n)0.5 (n)0.5 (el)23 ( )]TJ 0.025 Tc 0.01 Tw 0 -1.115 Td (segments, box culverts etc.\) within the scope of Left Line ZK9+120 to Z\K13+772 )Tj 0.044 Tc 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( be)12.9 ( paid)12.8 ( upon)14 ( )]TJ 0.045 Tc 0 -1.231 Td [(issuance)12.2 ( of)12.2 ( the)12.2 ( certificate)12.2 ( for)12.2 ( the)12.2 ( end)12.1 ( of)12.2 ( the)12.2 ( defect)20.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (liability period.)Tj ET endstreamendobj57 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 4 \226)Tj /T1_1 1 Tf 13 0 0 13 85.0394 770.8478 Tm (Terms of payment:)Tj /T1_0 1 Tf 0.064 Tw 11.993 0 Td (The advance payment shall be 15% of the contracted )Tj 0.11 Tc 0.07 Tw 0 -1.231 Td [(sum.)12.8 ( During)12.8 ( the)12.8 ( interim)12.8 ( payment)12.8 ( stage,)12.8 ( each)84.9 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(installment)1 ( )0.5 (shall)1 ( )0.5 (cover)1 ( )0.5 (9)1 (5)1 (%)1 ( )0.5 (of)1 ( )0.5 (the)1.1 ( )0.5 (progress)1 ( )0.5 (payment)1 ( )]TJ 0.084 Tc 0.07 Tw 0 -1.231 Td [(certified)12.4 ( by)12.4 ( the)12.4 ( principal.)12.4 ( Within)12.4 ( 2)12.4 (8)12.4 ( days)12.3 ( after)59 ( )]TJ 0.069 Tc 0 -1.231 Td [(c)0.5 (om)0.5 (p)0.5 (l)0.5 (et)0.5 (i)0.5 (o)0.5 (n)12.9 ( )0.5 (t)0.5 (h)0.5 (e)12.9 ( )0.5 (f)0.5 (i)0.5 (na)0.5 (l)13 ( )0.5 (pr)0.5 (o)0.5 (j)0.5 (ec)0.5 (t)13 ( )0.5 (s)0.5 (et)0.5 (t)0.5 (l)0.5 (em)0.5 (e)0.5 (n)0.5 (t,)13 ( )0.5 (p)0.5 (ay)0.5 (m)0.5 (e)0.5 (nt)44 ( )]TJ 0.039 Tc 0 -1.231 Td [(of)12.5 ( up)12.5 ( to)12.6 ( 9)12.6 (8)12.5 (.)12.6 (5)12.5 (%)12.6 ( of)12.6 ( the)12.6 ( audited)12.6 ( settlement)12.6 ( price)12.6 ( shall)14 ( )]TJ 0 -1.231 Td [(be)12.9 ( made.)12.9 ( The)12.8 ( remaining)12.8 ( balance)12.9 ( shall)12.9 ( be)12.9 ( paid)12.8 ( upon)14 ( )]TJ 0.045 Tc 0 -1.231 Td [(issuance)12.2 ( of)12.2 ( the)12.2 ( )]TJ 0 Tc 0 Tw (c)Tj 0.045 Tc 0.07 Tw 7.58 0 Td [(ertificate)12.2 ( for)12.2 ( the)12.2 ( end)12.2 ( of)12.1 ( the)12.1 ( defect)20 ( )]TJ 0.025 Tc 0 Tw -7.58 -1.231 Td (liability period.)Tj /T1_1 1 Tf -14.173 -2.335 Td [(\(ii\) )-583.5 (the TJ4 Civil Engineering Agreement)]TJ /T1_0 1 Tf 0.086 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.2 ( principal)12.3 ( terms)12.2 ( in)12.3 ( relation)12.2 ( to)12.3 ( the)12.2 ( transaction)12.3 ( with)12.3 ( Jiaogong)12.3 ( Luqiao)61 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (contemplated under the TJ4 Civil Engineering Agreement are summarised be\low:)Tj /T1_1 1 Tf -0.025 Tw 0 -2.462 Td (Date:)Tj /T1_0 1 Tf 0 Tw 11.993 0 Td (September 25, 2025)Tj /T1_1 1 Tf -0.025 Tw -11.993 -2.462 Td (Parties:)Tj /T1_0 1 Tf 0 Tw 11.993 0 Td [(\(1\) )-664.5 (the Project Company as the principal;)]TJ 0 -2.462 Td [(\(2\) )-664.5 (Jiaogong Luqiao as the contractor.)]TJ 0.09 Tc 0.07 Tw 0 -2.462 Td [(T)0.5 (o)12.9 ( )0.5 (th)0.5 (e)13 ( b)0.5 (es)0.5 (t)13 ( o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)13 ( k)0.5 (no)0.5 (w)0.5 (le)0.5 (dg)0.5 (e,)13 ( )0.5 (in)0.5 (fo)0.5 (r)0.5 (ma)0.5 (ti)0.5 (on)13 ( )0.5 (an)0.5 (d)65 ( )]TJ 0.052 Tc 0 -1.231 Td [(b)0.5 (el)0.5 (ie)0.5 (f)12.9 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (D)0.5 (ir)0.5 (ec)0.5 (t)0.5 (or)0.5 (s)12.9 ( )0.5 (ha)0.5 (v)0.5 (in)0.5 (g)12.9 ( )0.5 (ma)0.5 (de)13 ( )0.5 (al)0.5 (l)12.9 ( )0.5 (r)0.5 (ea)0.5 (s)0.5 (on)0.5 (ab)0.5 (le)27 ( )]TJ 0.054 Tc 0 -1.231 Td [(enquiries,)12.1 ( Jiaogong)12.1 ( Luqiao)12.1 ( is)12.1 ( a)12.1 ( connected)12.2 ( person,)29 ( )]TJ 0.025 Tc 0.069 Tw 0 -1.231 Td [(the )0.5 (details )0.5 (of which )0.5 (are set out in )0.5 (the section )0.5 (headed )]TJ 0 Tw 0 -1.231 Td (\223INFORMATION OF THE PARTIES\224 below.)Tj /T1_1 1 Tf -11.993 -2.462 Td (Scope of Services:)Tj /T1_0 1 Tf 0.123 Tc 0.07 Tw 11.993 0 Td [(Jiaogong)12.5 ( Luqiao)12.6 ( will)12.6 ( be)12.6 ( responsible)12.6 ( for)12.6 ( the)98 ( )]TJ 0.038 Tc 0 -1.231 Td [(implementation,)12.1 ( completion)12.2 ( and)12.2 ( defect)12.1 ( rectification)13 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(d)0.5 (u)0.6 (r)0.6 (i)0.5 (n)0.5 (g)4 ( )0.6 (d)0.5 (e)0.6 (f)0.5 (e)0.6 (c)0.5 (t)4.1 ( )0.5 (l)0.5 (i)0.5 (a)0.6 (b)0.5 (i)0.6 (l)0.6 (i)0.5 (t)0.6 (y)4 ( )0.5 (p)0.5 (e)0.6 (r)0.5 (i)0.6 (o)0.5 (d)4 ( )0.5 (o)0.6 (f)4 ( )0.5 (e)0.6 (n)0.5 (g)0.6 (i)0.5 (n)0.6 (e)0.5 (e)0.6 (r)0.5 (i)0.6 (n)0.5 (g)4 ( )0.5 (t)0.6 (a)0.5 (s)0.6 (k)0.6 (s)3.9 ( )0.6 (o)0.5 (f)4 ( )]TJ 0.051 Tc -0.051 Tw 0 -1.231 Td (subgrade,)Tj 0.07 Tw 4.307 0 Td [( bridges)12.5 ( \(with)12.4 ( bridge)12.5 ( structures)12.5 ( adopting)26 ( )]TJ 0.073 Tc -4.307 -1.231 Td [(prestres)0.5 (sed)12.9 ( concrete)12.9 ( )0.5 (T-beams)12.9 ( and)12.9 ( stee)0.5 (l-concrete)48 ( )]TJ 0.086 Tc 0 -1.231 Td [(composite)12.7 ( beams\),)12.7 ( the)12.7 ( mountain)12.7 ( tunnel)12.7 ( section)60.9 ( )]TJ 0.094 Tc 0 -1.231 Td [(on)12.1 ( the)12.2 ( exit)12.1 ( side,)12.1 ( interchange)12.1 ( works)12.1 ( \(including)69 ( )]TJ 0.025 Tc 0.046 Tw 0 -1.231 Td [(overpassing )0.5 (the )0.5 (operating )0.5 (Yongzhou )0.5 (Expressway )0.5 (and )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(underpassing)11 ( )0.5 (the)11 ( )0.5 (Dapu)11 ( )0.6 (Tunnel\),)11 ( )0.5 (road)11 ( )0.5 (reconstruction)11 ( )]TJ 0.073 Tc 0.07 Tw 0 -1.231 Td [(wo)0.5 (rks,)13 ( res)0.5 (erve)0.5 (d)12.9 ( a)0.5 (nd)12.9 ( e)0.5 (mbed)0.5 (ded)12.9 ( )0.5 (wor)0.5 (ks)12.9 ( )]TJ [(w)0.5 (ithin)13 ( the)48 ( )]TJ 0.067 Tc 0.082 Tw 0 -1.231 Td [(s)-12 (c)-12 (o)-12.1 (p)-12 (e)0.5 ( o)-12 (f)0.5 ( L)-12.1 (e)-12 (f)-12 (t)0.5 ( L)-12 (i)-12 (n)-12 (e Z)-12 (K)0.5 (19)0.5 (+)0.5 (95)0.5 (0)0.5 ( t)-12.1 (o)0.5 ( Z)-12.1 (K)0.5 (2)0.5 (7)0.5 (+1)0.5 (8)0.5 (1.)0.5 (9)0.5 (2)0.5 (9)41.9 ( )]TJ 0.046 Tc 0.083 Tw 0 -1.231 Td [(a)-12.7 (n)-12.7 (d R)-12.7 (i)-12.8 (g)-12.7 (h)-12.7 (t L)-12.7 (i)-12.7 (n)-12.8 (e Y)-12.7 (K19+920 t)-12.7 (o Y)-12.7 (K27+168.806)]TJ 0.059 Tc 0.07 Tw [(,)12.8 ( and)34 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (pavement works along the entire route.)Tj /T1_1 1 Tf -0.025 Tw -11.993 -2.462 Td (Term:)Tj /T1_0 1 Tf 0.123 Tc 0.07 Tw 11.993 0 Td [(1)12.4 (,)12.5 (4)12.4 (9)12.5 (1)12.4 ( calendar)12.5 ( days)]TJ 0 Tc 0.193 Tw 10.361 0 Td ( \()Tj 0.123 Tc 0.07 Tw 0.887 0 Td [(4)12.4 (9)12.5 ( months)]TJ [(\))12.5 ( of)12.4 ( planned)98 ( )]TJ 0.025 Tc 0.08 Tw -11.247 -1.231 Td (construction period commencing as instructed by the )Tj 0 Tw 0 -1.231 Td (supervisor with defect liability period of 24 months.)Tj ET endstreamendobj56 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 3 \226)Tj /T1_1 1 Tf 13 0 0 13 85.0394 770.8478 Tm (Scope of Services:)Tj /T1_0 1 Tf 0.133 Tc 0.07 Tw 11.993 0 Td [(Jiaogong)12.7 ( Group)12.8 ( will)12.8 ( be)12.8 ( responsible)12.8 ( for)12.8 ( the)108 ( )]TJ 0.038 Tc 0 -1.231 Td [(implementation,)12.1 ( completion)12.2 ( and)12.2 ( defect)12.1 ( rectification)13 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(d)0.5 (u)0.6 (r)0.6 (i)0.5 (n)0.5 (g)4 ( )0.6 (d)0.5 (e)0.6 (f)0.5 (e)0.6 (c)0.5 (t)4.1 ( l)0.6 (i)0.5 (a)0.6 (b)0.5 (i)0.6 (l)0.6 (i)0.5 (t)0.6 (y)4 ( )0.5 (p)0.5 (e)0.6 (r)0.5 (i)0.6 (o)0.5 (d)4 ( )0.5 (o)0.6 (f)4 ( )0.5 (e)0.6 (n)0.5 (g)0.6 (i)0.5 (n)0.6 (e)0.5 (e)0.6 (r)0.5 (i)0.6 (n)0.5 (g)4 ( )0.5 (t)0.6 (a)0.5 (s)0.6 (k)0.6 (s)3.9 ( )0.6 (o)0.5 (f)4 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(subgrade)12.8 ( works,)12.7 ( open-cut)12.8 ( U-shaped)12.7 ( trough)12.7 ( for)12.7 ( both)14 ( )]TJ 0.038 Tc 0 -1.231 Td [(Left)12.1 ( Line)12.1 ( and)12 ( Right)12.1 ( Line)12.1 ( and)12 ( the)12.1 ( shielded)12 ( )]TJ -0.038 Tw (undersea)Tj 0 Tc 0 Tw 22.92 0 Td ( )Tj 0.057 Tc 0.07 Tw -22.92 -1.231 Td [(tunnel)12.3 ( for)12.4 ( Right)12.3 ( Line)12.3 ( \(including)12.3 ( tunnel)12.3 ( segments,)32 ( )]TJ 0.077 Tc 0 -1.231 Td [(box)12.2 ( culverts)12.2 ( etc.\))12.2 ( within)12.2 ( the)12.2 ( scope)12.2 ( of)12.2 ( Left)12.2 ( Line)52 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(Z)-7.8 (K9+120 )0.5 (t)-7.8 (o Z)-7.8 (K13+772 )0.5 (a)-7.9 (n)-7.8 (d )0.5 (R)-7.9 (i)-7.8 (g)-7.9 (h)-7.9 (t )0.5 (L)-7.8 (i)-7.9 (n)-7.8 (e )0.5 (Y)-7.9 (K9+120 )0.5 (t)-7.8 (o )]TJ -0.025 Tw 0 -1.231 Td (YK13+770.)Tj /T1_1 1 Tf -11.993 -2.462 Td (Term:)Tj /T1_0 1 Tf 0.123 Tc 0.07 Tw 11.993 0 Td [(1)12.4 (,)12.5 (6)12.4 (7)12.5 (2)12.4 ( calendar)12.5 ( days)]TJ 0 Tc 0.193 Tw 10.361 0 Td ( \()Tj 0.123 Tc 0.07 Tw 0.887 0 Td [(5)12.4 (5)12.5 ( months)]TJ [(\))12.5 ( of)12.4 ( planned)98.1 ( )]TJ 0.025 Tc 0.08 Tw -11.247 -1.231 Td (construction period commencing as instructed by the )Tj 0 Tw 0 -1.231 Td (supervisor with defect liability period of 24 months.)Tj /T1_1 1 Tf -0.025 Tw -11.993 -2.462 Td (Consideration)Tj /T1_0 1 Tf 0 Tc 0 Tw (:)Tj 0.107 Tc 0.07 Tw 11.993 0 Td [(The)12.9 ( service)12.9 ( fee)12.9 ( payable)12.9 ( to)12.8 ( connec)0.5 (ted)12.9 ( person,)82 ( )]TJ 0.084 Tc 0 -1.231 Td [(J)0.5 (i)0.5 (a)0.5 (o)0.5 (g)0.5 (o)0.5 (n)0.5 (g)13 ( G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)0.5 (,)13 ( )0.5 (d)0.5 (u)0.5 (r)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (t)0.5 (e)0.5 (r)0.5 (m)13 ( )0.5 (un)0.5 (d)0.5 (e)0.5 (r)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (T)0.5 (J)13 (1)59 ( )]TJ 0.09 Tc 0.071 Tw 0 -1.231 Td [(Civil)12 ( )0.6 (Engineering)12 ( )0.6 (Agreement)12 ( )0.6 (is)12.1 ( )0.5 (approximately)65 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (RMB1,900,810,631.)Tj /T1_1 1 Tf 0 Tw -11.993 -2.462 Td (Basis of consideration:)Tj /T1_0 1 Tf 0.055 Tc 0.07 Tw 11.993 0 Td [(The)12.1 ( total)12 ( contract)12 ( sum)12 ( was)12 ( determined)12.1 ( as)12.1 ( a)12.1 ( result)30 ( )]TJ 0.041 Tc 0 -1.231 Td [(of)12.8 ( public)12.8 ( tender.)12.8 ( Other)12.8 ( than)12.8 ( the)12.8 ( joint)12.8 ( bid)12.8 ( submitted)16 ( )]TJ 0.039 Tc 0 -1.231 Td [(b)0.5 (y)13 ( )0.6 (J)0.5 (i)0.5 (a)0.6 (o)0.5 (g)0.5 (o)0.5 (n)0.6 (g)13 ( )0.5 (G)0.6 (r)0.5 (o)0.5 (u)0.6 (p)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (C)0.6 (h)0.5 (i)0.5 (n)0.6 (a)13 ( )0.5 (R)0.6 (a)0.5 (i)0.5 (l)0.6 (w)0.5 (a)0.5 (y)13.1 ( )0.5 (1)13 (4)13 (t)0.6 (h)13 ( )0.5 (B)0.6 (u)0.5 (r)0.5 (e)0.6 (a)0.5 (u)14 ( )]TJ 0.047 Tc 0 -1.231 Td [(Group)12.7 ( Co.,)12.7 ( Ltd.,)12.7 ( there)12.7 ( were)12.7 ( two)12.7 ( other)12.7 ( independent)22 ( )]TJ 0.025 Tc 0.043 Tw 0 -1.231 Td (service providers \(including consortium\) who made a )Tj -0.025 Tw 0 -1.231 Td (bid.)Tj 0.01 Tw 0 -2.462 Td (The tender evaluation took into account the following )Tj 0.046 Tc 0.07 Tw 0 -1.231 Td [(factors:)12.3 ( \(i\))12.4 ( commercial)12.3 ( aspect:)12.3 ( bidder\222s)12.3 ( experience)21 ( )]TJ 0.059 Tc 0 -1.231 Td [(in)12.7 ( similar)12.6 ( construction)12.7 ( project,)12.7 ( qualifications)12.6 ( and)34 ( )]TJ 0.095 Tc 0 -1.231 Td [(capabilities)12.5 ( of)12.5 ( the)12.4 ( key)12.4 ( personnel)12.5 ( proposed)12.5 ( for)70 ( )]TJ 0.064 Tc 0 -1.231 Td [(the)12.8 ( project)12.8 ( and)12.9 ( bidder\222s)12.9 ( corporate)12.9 ( reputation)12.9 ( and)39 ( )]TJ 0.083 Tc 0 -1.231 Td [(credibility;)12.1 ( \(ii\))12.2 ( technical)12.1 ( aspect:)12.1 ( overall)12.1 ( layout)58 ( )]TJ 0.07 Tc 0 -1.231 Td [(and)12.2 ( construction)12.2 ( organization)12.1 ( planning,)12.1 ( analysis)45.1 ( )]TJ 0.076 Tc 0 -1.231 Td [(of)12.3 ( difficulties)12.2 ( and)12.3 ( key)12.3 ( points)12.2 ( of)12.2 ( the)12.3 ( project)12.3 ( and)51 ( )]TJ 0.098 Tc 0 -1.231 Td [(corresponding)12.2 ( countermeasures,)12.1 ( key)12.2 ( technical)73 ( )]TJ 0.077 Tc 0 -1.231 Td [(solutions)12.7 ( and)12.7 ( countermeasures)12.8 ( for)12.8 ( construction,)52 ( )]TJ 0.039 Tc 0 -1.231 Td [(quality,)12.7 ( schedule,)12.6 ( and)12.6 ( safety)12.7 ( assurance)12.7 ( systems)12.7 ( and)14 ( )]TJ 0.073 Tc 0 -1.231 Td [(measures,)12.2 ( technical)12.3 ( innovation)12.3 ( plans,)12.3 ( as)12.3 ( well)12.3 ( as)48 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.231 Td (construction risk prediction and prevention measures; )Tj 0 Tw 0 -1.231 Td (and \(iii\) bid price.)Tj ET endstreamendobj54 0 obj<>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 2 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q 0 0 0 1 K 0.5 w /GS2 gs q 1 0 0 1 56.6929 784.9469 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 538.8326 779.2776 cm 0 0 m 0 5.419 l S Q q 1 0 0 1 538.8326 699.2776 cm 0 0 m 0 80 l S Q q 1 0 0 1 538.8326 691.0237 cm 0 0 m 0 8.254 l S Q q 1 0 0 1 56.9429 779.2776 cm 0 0 m 0 5.419 l S Q q 1 0 0 1 56.9429 699.2776 cm 0 0 m 0 80 l S Q q 1 0 0 1 56.9429 691.0237 cm 0 0 m 0 8.254 l S Q q 1 0 0 1 56.6929 690.7737 cm 0 0 m 482.39 0 l S Q BT /GS0 gs 0.067 Tw 13 0 0 13 65.4468 764.9286 Tm (Pursuant to Rule 14A.52 of the Listing Rules, as the term of each of the\ TJ1 Civil )Tj 0.041 Tc 0.07 Tw 0 -1.231 Td [(Engineering)12.7 ( Agreement)12.8 ( and)12.8 ( the)12.8 ( TJ)12.8 (4)12.8 ( Civil)12.8 ( Engineering)12.8 ( Agreement)12.7 ( exceeds)12.7 ( three)16 ( )]TJ 0.042 Tc 0 -1.231 Td [(years,)12.9 ( the)12.9 ( Company)12.9 ( has)12.9 ( a)0.5 (ppointed)12.9 ( the)12.9 ( )0.5 (Inde)0.5 (pend)0.5 (ent)12.9 ( Financial)12.9 ( Adviser)12.9 ( to)12.9 ( explain)17 ( )]TJ 0.038 Tc 0 -1.231 Td [(why)12.1 ( a)12.1 ( term)12.2 ( longer)12.2 ( than)12.2 ( three)12.1 ( years)12.1 ( is)12.1 ( required)12.2 ( and)12.1 ( to)12.2 ( confirm)12.1 ( that)12.1 ( it)12.1 ( is)12.2 ( a)12.2 ( normal)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (business practice for agreements of this type to be of such duration.)Tj /T1_1 1 Tf -0.673 -3.008 Td (THE CIVIL ENGINEERING AGREEMENTS)Tj /T1_0 1 Tf 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(limited)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 3.253 0 Td (company)Tj 0 Tc 0 Tw ( )Tj 4.084 0 Td (i)Tj 0.302 0 Td (n)Tj 0.024 Tc -0.024 Tw 0.523 0 Td (corp)Tj 0 Tc 0 Tw (o)Tj 2.452 0 Td (r)Tj 0.413 0 Td (a)Tj 0.024 Tc -0.024 Tw 0.523 0 Td (te)Tj 0 Tc 0 Tw (d)Tj 1.293 0 Td ( )Tj 0.274 0 Td (i)Tj 0.301 0 Td (n)Tj 0.524 0 Td ( )Tj 0.025 Tc -0.025 Tw 0.306 0 Td (the)Tj 0 Tc 0 Tw ( )Tj 1.595 0 Td (P)Tj 0.557 0 Td (e)Tj 0.025 Tc -0.025 Tw 0.469 0 Td (opl)Tj 0 Tc 0 Tw (e)Tj 1.821 0 Td (\222)Tj 0.319 0 Td (s)Tj 0.413 0 Td ( )Tj 0.025 Tc -0.025 Tw 0.3 0 Td (Republic)Tj 0 Tc 0 Tw ( )Tj 4.055 0 Td (o)Tj 0.523 0 Td (f)Tj 0.302 0 Td ( )Tj 0.025 Tc -0.025 Tw 0.302 0 Td (China)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 2.87 0 Td (with)Tj 0 Tc 0 Tw ( )Tj 2.123 0 Td (l)Tj 0.025 Tc -0.025 Tw 0.302 0 Td (imited)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 2.95 0 Td (liabilit)Tj 0 Tc 0 Tw (y)Tj ET q 83.489 605.141 428.297 91.437 re W n BT 10 0 0 10 508.4596 620.9818 Tm (\))Tj /T1_2 1 Tf -25.595 -1.366 Td (\()Tj 0.025 Tc -0.025 Tw 0.357 0 Td (Stock)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 2.815 0 Td (code:)Tj 0 Tc 0 Tw ( )Tj 0.025 Tc -0.025 Tw 2.702 0 Td (0576)Tj 0 Tc 0 Tw (\))Tj ET EMC Q BT /T1_3 1 Tf 0.025 Tc 15 0 0 15 130.8027 569.1409 Tm (CONTINUING CONNECTED TRANSACTIONS)Tj -3.815 -2.667 Td (IN RELATION TO THE CIVIL ENGINEERING AGREEMENTS)Tj ET 0 0 0 1 K 0.5 w /GS2 gs q 1 0 0 1 56.6929 511.24 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 538.8327 505.5707 cm 0 0 m 0 5.419 l S Q q 1 0 0 1 538.8327 489.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 473.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 345.5707 cm 0 0 m 0 128 l S Q q 1 0 0 1 538.8327 329.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 313.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 297.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 185.5707 cm 0 0 m 0 112 l S Q q 1 0 0 1 538.8327 169.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 538.8327 73.5707 cm 0 0 m 0 96 l S Q q 1 0 0 1 538.8327 65.3168 cm 0 0 m 0 8.254 l S Q q 1 0 0 1 56.9429 505.5707 cm 0 0 m 0 5.419 l S Q q 1 0 0 1 56.9429 489.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 473.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 345.5707 cm 0 0 m 0 128 l S Q q 1 0 0 1 56.9429 329.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 313.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 297.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 185.5707 cm 0 0 m 0 112 l S Q q 1 0 0 1 56.9429 169.5707 cm 0 0 m 0 16 l S Q q 1 0 0 1 56.9429 73.5707 cm 0 0 m 0 96 l S Q q 1 0 0 1 56.9429 65.3168 cm 0 0 m 0 8.254 l S Q q 1 0 0 1 56.6929 65.0668 cm 0 0 m 482.39 0 l S Q BT /GS0 gs 13 0 0 13 65.4469 491.2217 Tm (THE CIVIL ENGINEERING AGREEMENTS)Tj /T1_0 1 Tf 0.033 Tc 0.075 Tw 0 -2.462 Td [(On)8.1 ( )0.5 (September)8 ( )0.5 (2)8 (5)8 (,)8 ( )0.5 (2)8 (0)8 (2)8 (5)8 (,)8 ( )0.5 (the)8 ( )0.5 (Project)8 ( )0.5 (Company,)8.1 ( )0.5 (a)8 ( )0.5 (non)8 ( )0.5 (wholly)]TJ 0 Tc 0 Tw (-)Tj 0.033 Tc 0.075 Tw 26.925 0 Td [(owned)8 ( )0.5 (subsidiary)8 ( )0.5 (of)8 ( )]TJ 0.039 Tc 0.07 Tw -26.925 -1.231 Td [(the)12.4 ( Company,)12.4 ( entered)12.4 ( into)12.4 ( respectively)12.4 ( \(i\))12.5 ( the)12.4 ( TJ)12.5 (1)12.4 ( Civil)12.4 ( Engineering)12.4 ( Agreement)14.1 ( )]TJ 0.04 Tc 0 -1.231 Td [(with,)12.2 ( among)12.2 ( others,)12.2 ( Jiaogong)12.2 ( Group)12.2 ( regarding)12.2 ( the)12.1 ( civil)12.2 ( engineering)12.2 ( work)12.2 ( of)12.2 ( the)15 ( )]TJ 0.039 Tc 0 -1.231 Td [(construction)12.5 ( of)12.5 ( Section)12.5 ( TJ)12.5 (1)12.5 ( of)12.5 ( Ningbo)12.5 ( Qijiashan)12.5 ( to)12.5 ( Zhoushan)12.5 ( Jintang)12.5 ( Section)12.5 ( of)14.1 ( )]TJ 0.041 Tc 0 -1.231 Td [(G)12.4 (9)12.3 (2)12.4 ( Hangzhou)12.4 ( Bay)12.3 ( Roundabout)12.4 ( Expressway;)12.4 ( and)12.4 ( \(ii\))12.4 ( the)12.4 ( TJ)12.4 (4)12.3 ( Civil)12.3 ( Engineering)16 ( )]TJ 0.06 Tc 0 -1.231 Td [(Agreement)12.8 ( with)12.8 ( Jiaogong)12.8 ( Luqiao)12.9 ( regarding)12.9 ( the)12.8 ( civil)12.8 ( engineering)12.8 ( work)12.8 ( of)12.8 ( the)35 ( )]TJ 0.039 Tc 0 -1.231 Td [(construction)12.5 ( of)12.5 ( Section)12.5 ( TJ)12.5 (4)12.5 ( of)12.5 ( Ningbo)12.5 ( Qijiashan)12.5 ( to)12.5 ( Zhoushan)12.5 ( Jintang)12.5 ( Section)12.5 ( of)14.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (G92 Hangzhou Bay Roundabout Expressway.)Tj /T1_3 1 Tf 0 -2.462 Td (LISTING RULES IMPLICATIONS)Tj /T1_0 1 Tf 0.048 Tc 0.07 Tw 0 -2.462 Td [(As)12.1 ( at)12.1 ( the)12.1 ( date)12.1 ( of)12.1 ( this)12.2 ( announcement,)12.1 ( Communications)12.1 ( Group)12.1 ( is)12.1 ( the)12.2 ( controlling)23 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.231 Td (shareholder of the Company. 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