BRETON (01333) announced that on August 15, 2025, the company's wholly-owned subsidiary BRETON Hunan, as the contracting party, entered into a construction general contracting agreement with contractor Hunan Bairi for the BRETON Electric Wide-Body Dump Truck and Autonomous Driving Innovation Center project. Under this agreement, Hunan Bairi will undertake the construction work for the project on behalf of BRETON Hunan, with a total contract value of RMB 99.5 million.
The BRETON Electric Wide-Body Dump Truck and Autonomous Driving Innovation Center construction project is located in Xiangtan Economic Development Zone, Hunan Province, west of Xiangshui Avenue, north of Jiuzhao West Road, and south of the Southern Building Materials project.
With the rapid development of new energy and autonomous driving technologies, the company is actively establishing an electric wide-body dump truck and autonomous driving technology innovation center to further enhance its research and development capabilities in related fields. As disclosed in the "Future Plans and Use of Proceeds" section of the company's prospectus, approximately 40% of the net proceeds are expected to be used for establishing manufacturing facilities and procuring necessary equipment to enhance the company's manufacturing capabilities.
As part of this plan, the construction project is located in Xiangtan City, Hunan Province. Upon completion, the project will be used for the production and assembly of electric wide-body dump trucks equipped with autonomous driving technology to expand production capacity and improve operational efficiency.
The completion of the construction project is expected to help ensure more stable production quality standards and achieve higher operational efficiency compared to outsourcing or retrofitting existing facilities, thereby further strengthening the company's core competitiveness and supporting the implementation of the company's long-term business strategy.
Additionally, Hunan Bairi has extensive experience and a good reputation in construction engineering, ensuring the project can be completed with high quality and on schedule as required. Commissioning them to handle the construction work is beneficial for ensuring the smooth progress of the construction project and safeguarding the company's interests.
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