10, the Transport Group (SZ001288) announced that. Yunji Group International Holding Co., Ltd. (Hereinafter referred to as "Yunji International"), a wholly-owned subsidiary of the Company, and West International Holdings Zimbabwe Building Materials Investment Co., Ltd. (Hereinafter referred to as "West Zimbabwe") signed the 3500t/d clinker cement production line of West International Holdings Zimbabwe Building Materials Investment Co., Ltd. 2 × 18 MW Power Station and Intelligent Conveyor System EPC Contract, the total contract price excluding tax is estimated to be 1.331 billion yuan (the same below), accounting for about 86.66% of the audited operating revenue of Yunji Group in 2024.
However, the Transport Group said in the announcement that the project is a general contract, the revenue recognition method is expected to adopt the net method of accounting, the company expects the contract to achieve revenue of no more than 160 million yuan. The performance of this contract does not constitute a related party transaction, nor does it constitute a major asset reorganization, and does not need to be submitted to the board of directors and shareholders'meeting for approval.
The announcement shows that Western Zimbabwe is the contractor of the contract, while Transport International signed the contract as the contractor. The contract price adopts the estimated total price mode, and the estimated total price excluding tax is 1.331 billion yuan. According to the annual report of Transport Group in 2024, the company achieved revenue of 1.536 billion yuan in 2024, and the total contract price accounted for 86.66% of the company's revenue in 2024. The scope of
contracting includes a complete new dry process clinker cement production line from limestone crushing, raw materials and fuels entering the plant to finished cement products leaving the plant, engineering design of 2 × 18 MW power station and auxiliary production facilities, procurement of mechanical and electrical equipment materials, equipment supervision and transportation, mine survey and detailed survey, foundation treatment and pile foundation engineering, etc. In terms of
construction period, the construction period of the clinker line of the contract is 14 months, the cement line will be completed one month after the completion date of the clinker line, and the construction period of the power station is 16 months (the specific commencement date will be negotiated by both parties).
Western Zimbabwe is a joint venture between Yaobai International Holdings Limited (formerly known as Western International Holdings Limited), a subsidiary of Hong Kong-listed Western Cement (HK02233), and Labenmon Investors, a local Zimbabwean partner.
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