Summary by Moomoo AI
WAVE DIGITAL ENTERPRISE TECHNOLOGY CO., LTD. ANNOUNCED ON 29 DECEMBER 2023 THAT IT HAS RENEWED THE NEW FRAMEWORK LEASE AGREEMENT WITH ITS CONTROLLING SHAREHOLDER WAVE GROUP LIMITED AND EXTENDED TO 31 DECEMBER 2024. The lease agreement relates to the leasing of surplus space in the Beijing office, and rents will be determined in accordance with market rents and other conditions. Wave Group holds approximately 54.44% of the shares in Wave, making the transaction a continuing connected transaction. Under the Listing Rules, the annual cap for the transaction is expected to exceed 0.1% but less than 5% and is therefore subject to the relevant reporting, review and announcement requirements without the approval of independent shareholders. The annual limit for the new framework lease agreement is set at RMB 10,000 thousand. Wave Digital's main businesses include software development, cloud services and the Internet of Things, while Wave Group is China's leading cloud computing and big data provider.