PB HOLDINGS: Early termination of the PPP project contract for municipal greening in Zhengzhou High-tech Zone

Zhitong
2025.05.07 08:16

PB HOLDINGS announced that the company has decided to terminate the "Zhengzhou High-tech Zone Municipal Greening PPP Project Contract" in advance and has sent a "Notice of Early Termination" to the Urban Management Department of the Social Affairs Center of Zhongyuan District, Zhengzhou City. The project investment amount is 3.32 billion yuan, and as of March 31, 2025, approximately 348 million yuan has been invested, with a cumulative repayment amount of about 85 million yuan. Due to the party A's continuous failure to fulfill the obligation to pay service fees, the cumulative unpaid service fees amount to approximately 94.6 million yuan, and the failure to complete the project re-approval work on time has led to difficulties in project advancement. The early termination of the project contract and related agreements is a prudent decision based on risk control and will not have a significant impact on the company's daily operations

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