The Kuo Yang Construction Co.,Ltd submitted a tender bid together with Taiwan Life Insurance Co., Ltd. for the [Project to Implement Urban Renovation of the Three Urban Renovation Initiatives in the Kaohsiung Multi-functional Commerce and Trade Park (South Base-North)]. The Company was chosen as the most advantageous tenderer and will contribute 80% of the investment amount. Both parties intend to sign a joint venture agreement and form a new company that will sign a contractor agreement with the Kaohsiung City Government.