Mengcao Ecology: Subsidiary terminates Xilinhot PPP project ahead of schedule

2026-03-06 10:54:33

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Mengcao Ecology Announcement: The company’s controlling subsidiary, Xilinhot City Morning Grass Ecological Restoration and Management Co., Ltd., has signed an early termination agreement with Xilinhot City Landscaping and Greening Service Center to end the original government and social capital cooperation (PPP) project. The project was originally planned for a 10-year partnership and entered the operational phase in May 2020. According to the agreement, the total project cost is 200 million yuan, of which 133 million yuan has been paid, with 67.0199 million yuan remaining unpaid. The government contributed 2.6299 million yuan in capital to pay for the project works. After Morning Grass Ecological completes the project handover, it will receive 20 million yuan; after providing an undisputed debt commitment letter, it will receive 44.39 million yuan. The termination of the project will not have a significant impact on the company’s production, operations, or performance.

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