General Elevator(SZ:300931) Shang Hai Zheng Quan Bao·2025-09-26 18:24Core Viewpoint - The company has signed a contract for the construction project related to the non-telecommunication pipeline relocation and reinstatement for Shanghai Metro Line 19, which is expected to positively impact its future operations and performance [2][12]. Contract Signing Details - The contract was signed between the company's subsidiary, Shanghai Yunshi Zhibang Information Technology Co., Ltd., and Shanghai Dacheng Information Industry Co., Ltd. The total contract value is RMB 48,500,000 (approximately 48.5 million) [2][6][7]. - The contract is set to commence on September 29, 2025, and is expected to be completed by September 28, 2026, with a total duration of 360 days [8]. Payment Terms - Payment for the pipeline relocation work will be 95% of the contract value, amounting to RMB 26.6 million, to be paid within 10 days after completion and handover [9]. - For the pipeline reinstatement work, 95% of the contract value, amounting to RMB 19.475 million, will also be paid under similar conditions [9]. Impact on Company - The total contract amount represents approximately 9.13% of the company's audited revenue for the year 2024, indicating a significant contribution to the company's financial performance if executed successfully [12]. Counterparty Information - Shanghai Dacheng Information Industry Co., Ltd. has a registered capital of RMB 83 million and has been operational since April 9, 2004. The company is not listed as a dishonest executor, indicating a low risk of default [3][5]. - There have been similar transactions between the two companies, with a transaction amount of RMB 2.8 million in 2025 [3]. Contract Execution and Dispute Resolution - The contract stipulates that any disputes arising from it should be resolved through friendly negotiation, and if unsuccessful, will be submitted to the competent court in the project location [10]. - The contract will take effect upon signing by the legal representatives or authorized agents of both parties [11]. Regulatory Compliance - The contract is categorized as a significant operational contract and does not require approval from the board of directors or shareholders according to relevant regulations [15]. - The company will disclose the progress of the contract in accordance with the Shenzhen Stock Exchange regulations [16].