Zhitong Financial and Economic APP News, brain Technology (02203) announced that since the existing framework agreement on construction services will expire on December 31, 2021, on December 6, 2021, Guangzhou Weaving Network and the field entered into a 2022 Construction Services Framework Agreement for a period of 3 years, expiring on December 31, 2024. Accordingly, Guangzhou Weaving Network Group will provide a number of communications construction and intelligent field solution services to the field group company. Including, but not limited to, broadband infrastructure services for residential properties and projects and comprehensive solutions for smart community projects (including hardware for security and identification purposes, software for residential management and community services), Guangzhou Weaving Network Group will charge a construction service fee in return. The proposed annual cap of service fees under the 2022 Framework Agreement for Construction Services shall not exceed RMB 8 million during the whole period.
According to the announcement, as Guangzhou Weaving Network is familiar with the field business and has been providing communication construction and intelligent field solution services to the field for many years, Guangzhou Weaving Network Group Company continues to provide communication construction and intelligent field solution services to field group companies in view of business needs and management facilities, which is time-effective and cost-effective in the long run, and at the same time, this arrangement may bring stable income to the group.