REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT Sample Clauses

REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. The Group seeks to connect and digitalize its PV power generation projects and the PV industry is one of the markets which Huawei would like to further enhance. Taking into consideration that the Group and Huawei have interests in common, the Board believes that the entering into of the Cooperation Agreement would enable the Company and Huawei to leverage on their respective expertise so as to enhance their business development in a long run. The Board believes that the cooperation as contemplated thereunder the Cooperation Agreement will help the Group further enhance its business expansion, and will play a positive role in broadening the income stream for the Group in the long run. The Cooperation Agreement is intended to set out the plan of cooperation between the parties to facilitate further and more detailed negotiations. The detailed terms and conditions for the actual cooperation will be subject to further negotiation and to be agreed and confirmed in the definitive agreement(s) to be entered into by the parties. Further announcement will be made by the Company as and when appropriate. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company. By order of the Board Kong Sun Holdings Limited Xx. Xxxx Xxxxxxx Executive Director Hong Kong, 20 April 2017
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. As mentioned in the Company’s annual report for the financial year ended 31 March 2021 (as well as the interim and annual reports published since June 2020), the Group, other than expanding its environmental hygiene services offerings and its target customer base in Hong Kong, has been exploring horizontal business development opportunities, including the possible expansion in geographic coverage and in property related synergised services, such as pest control, property security and general property management services, to maintain a long term growth of the Group. Recently, the Group has discussed with stated-owned and privately-owned facilities services operators in the mainland China on the possibility to (i) expand the Group’s quality environmental hygiene services to the Greater Bay Area, and (ii) make use of the business network and brand recognition of the Group and transparency as a Hong Kong listed company, to develop the business of property related services in the Greater Bay Area. However, the Directors acknowledged that the Group lacks practical experience in both administrative procedures and operational execution of environmental hygiene and other property related services in mainland China. In order to grasp the existing and potential opportunities in such a vast market, the Group determined that it is more flexible, efficient and less risky to cooperate with experienced local operator(s) when it first enters into the market of the Greater Bay Area. The Directors considered that the solid operational track record, experienced management team and various qualifications and licenses of Lask SZ could assist the Group in establishing its business presence in the Greater Bay Area in an efficient, cost effective and timely manner to capture the existing business opportunities. Furthermore, as Lask SZ mainly operates as a general property management service provider and rely on external sub-contractors to execute specified works, such as cleaning, waste management and security, it is envisaged that the operational expertise and business network of the Group and Lask SZ can synergise with each other and expedite the Group’s establishment of a foothold and future development in the Greater Bay Area. The Board wishes to emphasize that the implementation of the cooperation and transactions contemplated under the Cooperation Agreement shall be subject to the execution of specific agreements and the aforesaid cooperation may not necessarily be implement...
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. The Company is an investment holding company and the Group is principally engaged in the development, investment, operation and management of the solar power plants. The Company actively explores the investment opportunity to expand its new energy business in order to broadening the income base of the Group, and thereby enhancing the Group’s future financial performance and profitability. The Cooperation Agreement will allow the Group to co-invest with Huaxia Life and/or its fund(s), and hence may potentially create higher returns for the Group. As the terms of the proposed transactions under the Cooperation Agreement are still subject to negotiation and finalization, the proposed transactions may or may not materialise and its final structure and terms may deviate from those set out in the Cooperation Agreement. Accordingly, shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares or other securities of the Company. The Company will comply with relevant disclosure and approval requirements under the Listing Rules as and when appropriate.
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. By entering into the Cooperation Agreement, the Group can expand its hypermarket operation at prime location in Lianyungang City, Jiangsu Province, enhance the quality of fixed assets of the Group and sustain the Group’s long-term growth objective. The Directors, including the independent non-executive Directors, believe that the terms of the Cooperation Agreement are fair and reasonable and are in the interests of the Group and the shareholders of the Company as a whole. INFORMATION OF THE GROUP, SHANGHAI LIANSEN AND LIANYUNGANG YIXIANG The Group is principally engaged in the operation of hypermarkets and supermarkets in the PRC. Shanghai Liansen is principally engaged in the property development, property management, industrial investment, investment consultancy services, and import and export trading in the PRC. Lianyungang Yixiang was established on 16 October 2008 in the PRC and is principally engaged in the leasing of self-owned properties and the property management services in the PRC. According to the audited financial statement of Lianyungang Yixiang prepared in accordance with PRC Accounting Standards, Lianyungang Yixiang recorded a loss before and after taxation and extraordinary items of RMB962 for the period ended 31 December 2008 and had total assets of RMB13 million and net assets of RMB10 million as at 31 December 2008. On 9 April 2009, the paid up registered capital of Lianyungang Yixiang increased to RMB24 million from RMB10 million. It is expected that, upon completion of the Cooperation Agreement, Lianyungang will have no significant asset other than the Hypermarket, and be free of any and all debts and liabilities, except for the debt owed to Nantong Fortune and the retention payment of construction warranty according to the Cooperation Agreement.
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. The Cooperation Agreement further solidifies the Group’s e-commerce payment and settlement business with merchants globally. In addition to the existing business cooperation agreement with ChinaPay as disclosed in the announcement dated 6 March 2015, through ChinaPay’s gateway, customers can make purchases via online e-commerce platform and the smartphone application. The Cooperation Agreement further enables the Group to receive the total transaction amount from customers directly from Guangzhou UnionPay. All transaction amount to be received by Guangzhou UnionPay upon purchases made by the customers shall be paid to the Group, for all RMB settled transactions, T+1, and currencies other than RMB settled, T+2 after deducting the corresponding fees payable to Guangzhou UnionPay. As the Group negotiates the payment terms and transaction handling fee rates with each merchant separately, so the terms and rates can vary for each merchant.
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. The Group is principally engaged in (i) production and sales of ready-mixed commercial concrete; (ii) wholesale and retail of household consumables; and (iii) provision of money lending services. As mentioned in the Company’s annual report for the year ended 31 March 2022, the Group has been exploring business or investment opportunities in the same industry including horizontal expansion by acquiring small to medium size concrete manufacturing plants to capture larger market shares or vertical expansion by acquiring businesses in concrete’s raw material, namely sand and gravels. In recent years, the government of the People’s Republic of China (the “PRC”) has introduced several policies on ecological protection which led to the ban and cracking down on river sand mining business and the shortage of natural sand supply in the PRC while the demand for sand and gravels remained high as the infrastructure projects driving up the consumption. As a result, the price of sand and gravels are expected to continue to rise. As sand and gravels are the key raw materials of the Group’s concrete business, the Directors believe that the Group could benefit from the Cooperation Agreement with KR Trading to secure the supply of sand and gravels. Cooperation with KR Trading also provides the opportunity to tap into the supply of sand and gravels business in the Greater Bay Area and Hainan Province since KR Trading has obtained various qualifications and licenses and access to the abundant resources in the Philippines. It also has experienced management team and solid operational track record. The Directors believe that the Cooperation Agreement provides a more flexible, efficient and cost-effective opportunity for the Group to cooperate with an experienced operator to establish its business presence in the Greater Bay Area. It is also expected that the operational expertise and business network of the Group and KR Trading can synergise with each other and expedite the Group’s business development in both Hainan Province and the Greater Bay Area.
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REASONS FOR ENTERING INTO THE COOPERATION AGREEMENT. The Group is a leading manufacturer of automobile parts, in-vehicle hardware products and internet of vehicle technology provider in China. The Board believes that the Cooperation Agreement provides great opportunities for the cooperation between the Group and Yunauto and serves as part of the Group’s strategic move to enter the mass market of automotive interconnection products and services. In addition, the long-term cooperation between the Group and Yunauto will help the Group maintain its technologically advanced status and further consolidate its position as a leading manufacturer of automotive parts in China. The Board considers that entering into the Cooperation Agreement is in the interests of the Company and its shareholders as a whole. By order of the Board Huazhong In-Vehicle Holdings Company Limited Xxxx Xxxxxxx Chairman and Executive Director Hong Kong, 27 July 2015
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