Securities Code: 002431 Securities Abbreviation: Palm Eco-Town Development Announcement No.: 2026-058 Palm Eco-Town Development Co., Ltd. 2026 First Quarter Operations Briefing The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions. In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 3 - Industry Information Disclosure," and other relevant regulations, Palm Eco-Town Development Co., Ltd. (hereinafter referred to as the "Company") announces its 2026 first quarter operational status as follows: I. 2026 First Quarter (January-March) Order Situation Unit: RMB million
| Business Type | New Contracts Signed in the First Quarter | Signed but Uncompleted Orders at Period End | Bids Won but Not Yet Signed Orders |
|---|---|---|---|
| Quantity | Amount | Quantity | Amount |
| Engineering (including PPP projects) | 9 | 24,498.08 | 198 |
| Total | 9 | 24,498.08 | 198 |
| Note: Due to the interim nature of the above data and it being unaudited, differences may arise between these figures and those disclosed in the regular reports due to statistical scope and other reasons. This data is for reference only. | |||
| II. Major Project Progress (Note: Major projects herein refer to projects whose contract value accounts for over 30% of the Company's audited operating revenue in 2024). |
- In December 2015, the Company signed the "Shejiang Industrial Park Service Supporting Project and Meixian District Urban Expansion and Quality Improvement Project PPP Model Project Agreement" with the People's Government of Meixian District, Meizhou City. The total investment of the project is approximately RMB 1.422 billion. The business model is PPP, and this PPP project consists of 8 sub-projects. The cooperation period is 10 years, with a construction period of 2 years for each sub-project (calculated from the date each sub-project officially commences construction upon approval by relevant authorities); the operation and maintenance period is 8 years (calculated from the date each sub-project passes acceptance testing). As of the end of this reporting period, the cumulative investment in this PPP project was RMB 121,236.90 million. The construction of this project has been largely completed and has reached the state of intended use. Following review and approval by the Company's Seventh Board of Directors' Third Meeting and the Third Extraordinary Shareholders' Meeting in 2026, the Company has closed the project. The implementing agency is currently proceeding with the relevant government buyback procedures. The project implementing agency is the local government, and there is no significant risk anticipated for project settlement and repayment.
- In July 2021, the Company, as part of a consortium with Yellow River Conservancy Commission Scientific Research Institute Co., Ltd. and China National Chemical Engineering Fourteenth Construction Co., Ltd., signed the "Lianyungang Petrochemical Industrial Base Ecological Environment Improvement Project Phase I EPC General Contracting Agreement" with Jiangsu Yangjing Petrochemical Group Co., Ltd. The business model is EPC general contracting, with an overall project duration of 365 calendar days. This project is progressing according to the planned schedule. As of the end of this reporting period, the Company had achieved operating revenue of RMB 33,645.53 million, with a total of RMB 32,850.53 million received. The client is a state-owned enterprise under the Lianyungang municipal government, and no significant risk is anticipated for settlement and repayment.
- In October 2023, the Company, as part of a consortium with the Agricultural Irrigation Research Institute of the Chinese Academy of Agricultural Sciences and Henan Provincial Yuzhi Agricultural Service Co., Ltd., was awarded the bid for the first phase of the 2023 High Standard Farmland Construction Project in Qingfeng County. In 2024, the parties signed the "Qingfeng County 2023 High Standard Farmland Construction Project Agreement," with the Company's contract amount being RMB 94,946.86 million. As of the end of this reporting period, the Company had achieved operating revenue of RMB 60,679.10 million, with a total of RMB 55,201.03 million received. The project client is a government platform, and no significant risk is anticipated for project settlement and repayment.
- In December 2024, the Company, as part of a consortium with China Construction Fifth Engineering Bureau Co., Ltd. and China Construction Third Engineering Bureau Group Co., Ltd., signed the "Construction Engineering Contract" with the client Zhengzhou Airport Economy Zone Yu Creation Construction Development Co., Ltd. The consortium's contract amount is RMB 313,698.49 million, with a business model of EPC general contracting. The overall project duration is 670 calendar days. In June 2025, the parties signed a "Supplementary Agreement," and the project is progressing according to the planned schedule. As of the end of this reporting period, the Company had achieved operating revenue of RMB 76,680.13 million, with a total of RMB 43,553.77 million received. This project is a key construction project in Henan Province. The client is a holding subsidiary of a state-owned capital operation company, and no significant risk is anticipated for project settlement and repayment. Hereby announced. Palm Eco-Town Development Co., Ltd. Board of Directors April 24, 2026