GME GROUP (08188.HK): subsidiary signs strategic cooperation MOU with Tengda Construction affiliate, plans Hong Kong tunnel boring machine and PPP business

NewTimeSpace News: On 17 August 2026, GME Group Holdings Limited (stock code: 08188) announced in a voluntary announcement that its indirect wholly-owned subsidiary GME Engineering Company Limited entered into a memorandum of understanding with Tengxin Construction Limited on 28 July 2026 regarding strategic cooperation between the parties. Under the MOU, the parties intend to cooperate on developing a tunnel boring machine business in Hong Kong (targeting the Hong Kong market), introducing advanced machinery and construction technology from the strategic partner specifically for infrastructure works under the Northern Metropolis development projects, and developing public-private partnership (PPP) business targeting Hong Kong PPP projects; the strategic partner may also provide project financing for relevant projects.

According to the announcement, the strategic partner is a company incorporated in Hong Kong and a wholly-owned subsidiary of Tengda Construction Group Co., Ltd. (600512.SH). Tengda Group, headquartered in Taizhou, Zhejiang Province, is engaged in infrastructure construction including municipal roads, viaducts, rail transit, underground tunnels, bridges, expressways and water supply and drainage works, with advanced construction machinery, technology and engineering capabilities.

The announcement notes that the MOU is not intended to be legally binding (except for terms regarding confidentiality, publication and use of names, intellectual property and governing law), and the transactions contemplated under the MOU are subject to the final execution of formal agreements and may or may not materialize; shareholders and potential investors should exercise caution when dealing in the shares of the Company.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.