DONGJIANG ENV(00895.HK): Subsidiary Daxiang Logistics Plans to Participate in Steel Transportation Public Tender of Zhongnan Co., Ltd.

NewTimeSpace News: Dongjiang Environmental Company Limited (00895.HK) released an inside information announcement on June 10, 2026. Guangdong Daxiang Logistics Technology Co., Ltd., its non-wholly-owned subsidiary, plans to participate in the public tender for the road transportation and direct delivery project of finished steel products of Zhongnan Co., Ltd. The service will last for one year, covering the period from July 1, 2026 to June 30, 2027. Based on estimation, Daxiang Logistics will bid for the potential transportation services within a budget of RMB 20 million. The bidding price is determined with reference to the scope of anticipated services including the quantity and weight of finished steel products, as well as prevailing market rates.
Should Daxiang Logistics win the tender, it will enter into a formal Road Transportation Contract with Shanghai Ouye Logistics Co., Ltd. As an affiliate of Baowu Environmental Technology, a major shareholder of the Company, Ouye Logistics is a connected person of the Company. Accordingly, the proposed transportation services, if implemented, will constitute continuing connected transactions.
The Board is of the view that the participation in the public tender is conducted on normal commercial terms. The proposed transportation services fall within the ordinary and usual course of the Group's business, and are fair and reasonable, in the overall interests of the Company and its shareholders. The tender participation and potential services will help the Company foster new sources of revenue and profit. As part of the green logistics business, it is in line with the Company's strategic positioning to build itself into an outstanding comprehensive environmental service provider and a leading enterprise in the resource recycling industry in China.
Mr. Liu Xiaoxuan, a non-executive Director, abstained from voting on the relevant board resolution due to his senior management position at Baowu Environmental Technology.

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