EXPL: Signed a related party transaction contract worth 225 million yuan

EXPL announced that the company successfully obtained the land use rights on December 26, 2024, for the construction of the China Energy Construction Green Civil Explosives Innovation Development Center project. China Gezhouba Group Construction Engineering Co., Ltd. has been confirmed as the winning bidder for the project, with a bid amount of 225 million yuan. The amount of this related party transaction accounts for 3% of the company's most recent audited net assets and does not require submission for shareholder meeting approval. Gezhouba Construction Company is a wholly-owned subsidiary of Gezhouba Group, which holds 43.37% of EXPL's shares. The planned completion date for the contract is December 31, 2026