On 23 September 2026, Wuhan Youji Holdings Limited (“Wuhan Youji”) announced that its wholly-owned Malaysian subsidiary, Benzoplus Chemicals (M) Sdn. Bhd., has signed a Project Management Services Agreement with Shandong Linuo Smart Park Technology Co., Ltd. to oversee Phase I civil works of the Group’s new Malaysia Factory. The fixed, all-inclusive service fee is RMB4.00 million.
The mandate covers design coordination, tender support, cost and progress control, quality assurance, contract administration, on-site coordination and risk management for civil, fit-out and installation works totalling about 20,000 sq m. The service period runs from 23 September 2026 to 31 December 2027 and may be extended without additional charge if construction is delayed. Two principal on-site staff in Malaysia will be backed by a PRC-based technical team.
Payment will be staged: 30% within 10 days of contract effectiveness, 30% within 15 days of main-structure completion, 20% on project completion and issuance of the Certificate of Completion and Compliance (CCC), 17% after the final account, and the remaining 3% after a one-year retention period.
The service provider is wholly owned by Linuo Group, ultimately controlled 80% by Mr Gao Yuankun, father of Wuhan Youji’s non-executive director and controlling shareholder Mr Gao Lei, and 20% by non-executive director Mr Shen Yingming. As an associate of Mr Gao Lei, the engagement constitutes a connected transaction under Hong Kong Listing Rule 14A; with all applicable percentage ratios above 0.1% but below 5%, it requires announcement and reporting only.
Wuhan Youji selected the provider through an invited tender, citing the winning bidder’s technical capability and chemical-industry project experience. The fixed-fee structure is intended to enhance cost certainty.
Phase I of the Malaysia Factory targets annual capacities of approximately 15,000 tonnes of sodium benzoate and 10,000 tonnes of benzyl alcohol, subject to project progress and regulatory approvals. Interested directors abstained from voting; independent non-executive directors consider the terms fair, reasonable and in the interests of shareholders.