Yes, although the subsidiary and the parent company are subordinate in equity and management, they are independent legal persons and legally belong to two completely independent subjects. Therefore, the subsidiary belongs to others or a third party, and it is of course subcontracting for the parent company to hand over the project to the subsidiary after winning the bid.
Legal basis:
Article 28 of the Construction Law of People's Republic of China (PRC) prohibits contractors from subcontracting all their contracted construction projects to others, and prohibits contractors from dismembering all their contracted construction projects and subcontracting them to others in the name of subcontracting.