POLY PROPERTY (00119.HK): Subsidiary Wins Agency Construction Contract for Zhonggongmei Building

NewTimeSpace News: On 25 August 2026, Poly Property Group Co., Limited (stock code: 00119) announced that its wholly-owned subsidiary Poly Shandong, having successfully won the project through a public tender process, entered into an agency construction service contract with China Arts to provide full-process agency construction services for the renovation of the Zhonggongmei Building (located at No. 101 Fuxingmen Nei Avenue, Xicheng District, Beijing, with a total gross floor area of 36,198 sq.m.), for a total agency construction fee of RMB 12.67 million, with the final fee expected not to exceed RMB 15.58 million under any circumstances.

According to the announcement, China Arts is an indirect wholly-owned subsidiary of China Poly, which together with its associates holds approximately 48.09% of the Company's issued share capital and is the Company's controlling shareholder; China Arts is therefore a connected person and the transaction constitutes a connected transaction. 

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