Leo Group (SHE:002131) will sign a related-party transaction framework agreement with Chuangxing Resource, controlled by Chair and General Manager Wang Xiangrong, according to a Wednesday filing with the Shenzhen bourse.
Chuangxing Resource and its subsidiaries will undertake construction and supporting engineering for Leo Group's factories, including construction contracting, material procurement and installation services.
The agreement is valid for 12 months, with estimated construction contracts of up to 20 million yuan.
Shares of the mechanical manufacturing and digital marketing company were down 5% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments