Zhongyan Technology Withdraws from Nuclear Power Project Bid Due to Revised Implementation Plan

Deep News03-23

On March 23, Zhongyan Technology Co., Ltd. (003001.SZ) announced that it has decided to withdraw from the bidding qualification for the "Pile Foundation Engineering Section of the Jiangsu Xuwu Project by the Nuclear Power Branch," which it had previously won. During subsequent discussions with the tenderer, adjustments to the project implementation plan led to significant changes in core commercial terms and cost calculation benchmarks. These changes resulted in implementation conditions that differ substantially from those during the original bidding phase. To effectively mitigate operational risks and protect the legitimate interests of the company and all shareholders, Zhongyan Technology conducted a prudent review and decided to abandon the project. The company stated that since the project is still in the post-bid negotiation stage and no formal contract has been signed, the withdrawal will not result in any financial loss.

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