KONTA CHINA awarded the construction contract for the Beijing R&D complex project, involving RMB 33.67 million

KONTA CHINA (01312.HK) announced that its wholly-owned subsidiary Tongfang Pharmaceutical signed a construction contract with Beijing Qingkong on August 18, appointing Beijing Qingkong as the general contractor for the Beijing R&D Complex project. The estimated contract price is RMB 33.6724 million. The contract period is 320 days, and Beijing Qingkong will be responsible for the construction of the Beijing R&D Complex, including the foundation and basement structure, main structure, decoration and finishing, roofing, plumbing and heating, electrical engineering, ventilation and air conditioning, and elevators.

The Beijing R&D Complex is expected to be a five-story building, primarily used for research and development purposes. Since Beijing Qingkong is an indirect non-wholly-owned subsidiary of Shenzhen Huarongtai, the controlling shareholder of KONTA CHINA, this will constitute a related party transaction