Summary by Moomoo AI
China UniPlastic announced that it will enter into a new machinery procurement agreement with Chairman and Executive Director Mr. Huang on January 31, 2024, and a supply agreement with Yingxin Fujian, which is wholly owned by four related parties. The new machinery procurement agreement will govern the procurement of machinery for the three years ending 31 December 2026, while the supply agreement covers the supply of building materials, new energy solutions and renovation services. The transaction price of both agreements will not exceed the price offered by an independent third party and, under the Listing Rules, these transactions are subject to the reporting and disclosure requirements, but are exempt from approval by independent shareholders. The Board considers that the terms of these agreements are fair and reasonable and are in the overall interests of the Company and its shareholders.