According to the Zhitong Finance APP, SID (600748.SH) announced that the company recently signed a "Strategic Cooperation Agreement" with Shanghai North Bund (Group) Co., Ltd. (referred to as "North Bund Group").

The agreement stipulates that both parties will be core long-term strategic partners, engaging in extensive communication and exchanges in the areas of development and construction, urban renewal, industrial introduction, urban innovation model operation, and commercial operations within the North Bund area. Both parties will conduct joint inspections, research, and analysis on the future integrated urban operation of the North Bund core area, deploy cooperation work requirements and promotion measures, and propose visions and suggestions for a unified urban operation mechanism and model in the future. The two sides aim for equity cooperation and long-term sustainability, exploring paths for deep cooperation to accelerate the optimization and implementation of urban renewal and innovative operation models.

The announcement stated that the company is currently developing the 90# plot in the area and is participating in the construction of the future tallest building in Shanghai Puxi through a joint venture on the 91# plot. This strategic cooperation is an important opportunity for the company to enter the urban operation service field and participate in urban renewal, urban innovation model operation, and commercial operations in the North Bund area