On March 3, Huarun Building Material Science and Technology issued a notice. On March 3, 2025, the company signed an entrusted management contract with China Resources Power and Chongqing Energy on the daily operation and management of the trusteeship subject matter. The proposed annual cap of the contract is RMB36 million, which is determined mainly based on factors such as the current operating conditions of the subject of custody, the management experience of the Group, the expected workload and the estimated potential increase in operating profit in the next three years.
The announcement shows that the main business of Chongqing Energy and Building Materials Branch is included in the trusteeship as a whole, including Chongqing Energy and Building Materials Branch and its subsidiaries. Including Chongqing Nantong Special Cement Co., Ltd., Chongqing Qingpeng Cement Co., Ltd., Chongqing Jianhe Stone Powder Co., Ltd., Chongqing Nantong Environmental Protection Technology Co., Ltd., Chongqing Nengtou New Materials Co., Ltd., Chongqing Tongcheng Building Materials Co., Ltd. and Chongqing Tongsheng Building Materials Co., Ltd., as well as its associated company Chongqing Nengtou Runqi New Materials Co., Ltd.
According to the contract, Huarun Electric Power and Chongqing Energy entrust Huarun Building Material Science and Technology to be responsible for the daily operation and management of the trusteeship target, including office administration, investment and asset management, market management and other aspects. The contract is valid from March 3, 2025 to February 29, 2028.
Custody fees include labor costs and promotion incentives, and the floating part of the promotion incentives is 20% of the annual operating profit reduction or profit increase of the subject of custody. If the actual number of trusteeship enterprises is 6 to 8, the fixed part of the annual promotion reward is 12 million yuan.
The announcement said that China Resources Building Materials Technology has relatively mature, advanced and rich management experience in the production process, technology, safety production and operation management of the building materials industry, and has management strength. The entering into of the Entrusted Management Agreement will enhance and give full play to the synergistic advantages of the Group's building materials business in the Southwest Region and the Central China Region, facilitate the Group to focus its resources on professional management, reduce management costs and enhance the performance and competitiveness of the Group.
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