GME GROUP Subsidiary Signs Strategic Agreement with Teng Xin Construction

Stock News08-17

GME GROUP (08188) announced that on July 28, 2026, its indirect wholly-owned subsidiary, GME Engineering Limited (GME HK), entered into a memorandum of understanding (MoU) with Teng Xin Construction Limited (the strategic partner).

The MoU outlines a strategic collaboration between GME HK and the strategic partner, focusing on several key areas. First, the parties aim to develop a tunnel boring machine business in Hong Kong, targeting the local market. Second, the partnership intends to introduce advanced machinery and construction technologies from the strategic partner, specifically for infrastructure projects under the Northern Metropolis development initiative, aligning with the Hong Kong SAR government's goals of improved efficiency and cost reduction.

Third, the collaboration aims to develop a public-private partnership (PPP) business in Hong Kong, targeting PPP projects, particularly those related to the Northern Metropolis development and other civil engineering projects that may require a PPP framework. Fourth, the strategic partner may provide project financing for either collaborative projects or those undertaken solely by GME HK, subject to separate written agreements between the parties.

GME HK and the strategic partner recognize their complementary strengths and are exploring opportunities to cooperate in tunnel excavation, infrastructure, and PPP projects in Hong Kong, especially for the Northern Metropolis development, to support the Hong Kong SAR government's objectives of enhancing efficiency and reducing costs.

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