INDUSTRIAL FINANCE COOPERATION FRAMEWORK AGREEMENT Sample Clauses

INDUSTRIAL FINANCE COOPERATION FRAMEWORK AGREEMENT. On 5 December 2022, the Company entered into the Industrial Finance Cooperation Framework Agreement with Hwabao Investment, pursuant to which both parties agree to cooperate in industrial services, consulting and factoring services, finance leasing services, spot-futures combination services and other areas. As of the date of this announcement, China Baowu indirectly holds a total of approximately 51.75% shares of the Company, and Hwabao Investment is the subsidiary of China Baowu. As such, Hwabao Investment is connected person of the Company under Chapter 14A of the Listing Rules, and the transactions under the Industrial Finance Cooperation Framework Agreement would constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules. As the applicable percentage ratios of the Industrial Finance Cooperation Framework Agreement are more than 0 . 1 % but less than 5 %, such transactions constitute exempt continuing connected transactions of the Company under Rules 14A of the Listing Rules in which approval from independent shareholders is exempted and are only subject to the reporting and announcement requirements set out in Rule 14A of the Listing Rules.
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