Reasons for Gezhouba's Withdrawal from Luanping after Winning the Bid

Insufficient funds. Official website of Gezhouba Group has the information of winning the bid in 2023. As of February 28, 2023, Luanping withdrew from the bidding due to insufficient funds. Winning the bid means that the tenderer determines that the bidder is the signing object of the project subject to tender according to legal procedures. In general, if the bidder wins the bid, it will receive the bid-winning notice issued by the tenderer.