Zhejiang huhangyong (00576) announced that on February 17, 2022, the information center of the company (the branch of the company) entered into a project design contract with the Digital Intelligence Transportation Institute. The information center of the company agreed to hire the Digital Intelligence Transportation Institute to provide various services related to the phase II design project of intelligent upgrading and reconstruction of Shanghai Hangzhou Ningbo Expressway, at a cost of RMB 4.9979 million.
The announcement said that the project aims at the sustainable development and operation of Shanghai Hangzhou Ningbo Expressway. After completion, it will effectively improve the efficiency of data collection, processing and statistical analysis in the operation and management of Shanghai Hangzhou Ningbo Expressway, and reduce the operation cost and management cost; Effectively prevent accidents, reduce the congestion probability of Shanghai Hangzhou Ningbo Expressway, speed up the response speed of traffic accidents and accidents and improve the efficiency of emergency treatment.
Due to its rich experience in Intelligent Transportation Survey and design, and its qualifications and expertise can provide design services required for the intelligent upgrading of Shanghai Hangzhou Ningbo Expressway, it stood out in the bidding review process. In addition, considering that digital intelligence transportation institute holds 55.08% of the equity of transportation group, it fully understands the company’s operation needs, vision and objectives in terms of smart expressway, can maintain effective communication with the company, and can provide high-quality survey and design services for the company. The transactions to be conducted under the project design contract are and will be conducted in the general and daily business process of the company, and the price paid by the company to the digital intelligence delivery Institute will not be higher than the average market price, nor lower than the quotation provided by an independent third party to the company for similar services.
