HX COLDCHAIN (01641) has announced that on April 16, 2026, the company entered into a construction agreement with HX Construction. Under this agreement, HX COLDCHAIN has agreed to appoint HX Construction as the contractor for the project, with a contract value of approximately RMB 22.0038 million, subject to the terms and conditions of the construction agreement.

The project involves the construction of a food processing and distribution center in Changsha, Hunan Province, China. The company views frozen food processing as a natural extension of its expertise in frozen food storage, rather than an entry into an entirely new business sector. This initiative will allow HX COLDCHAIN to provide value-added services to its frozen food storage clients, such as meat cutting, sterilization, tunnel freezing, sorting, and vacuum packaging, thereby enhancing its competitiveness in the frozen food storage business.

First, the directors believe the company is well-positioned to meet market demand, as many of its over 700 frozen storage customers have expressed a need for frozen food processing services. Second, the new food processing facility will be located near the company's existing storage and retail facilities, enabling synergistic operations and improved service delivery across all three sites. Customers will be able to source unprocessed frozen food from the company's storage facilities and distribute finished products through its trading platform. This approach is expected to streamline logistics, reduce the need to coordinate with multiple business partners, and ultimately lower operational costs.

HX Construction was selected through a competitive bidding process, and the terms of the construction agreement were determined through fair negotiations between the parties.