Bomai Technology: Signs a major contract worth 750-1000 million yuan with STS

A Booming Technology announcement reveals that the company has signed a contract with STS for the construction of the upper module of a floating production storage and offloading vessel (FPSO) in the amount of RMB 750 million to 1 billion. Once completed, the FPSO will be deployed in the Suriname oil field, covering the design, material procurement, and construction of the upper module of the FPSO. The contract will take effect in January 2025 and is scheduled for completion in January 2027. The contract amount consists of a fixed price component and a variable amount based on the estimated current workload, with the final amount based on the actual completed workload. The signing of the contract will have a positive impact on the company’s current and future performance, but the specific amount of impact cannot be calculated at this time.