Summary by Moomoo AI
ALI HEALTH INFORMATION TECHNOLOGY CO., LTD. ANNOUNCED THAT IT WILL BE EXTENDING THE EXISTING CONTINUING CONNECTED TRANSACTION AGREEMENT ON MARCH 31, 2024 AND ESTABLISHING AN EQUITY SETTLEMENT FRAMEWORK AGREEMENT FOR 2025 TO 2027. The renewal agreement will run from April 1, 2024 to March 31, 2027, and part of the agreement will end on March 31, 2025. At the same time, the company entered into a new equity settlement framework agreement with Alibaba Holdings, which will be valid from 1 April 2024 to 31 March 2027. This move aims to preserve equity awards for employees moving between the Group's entities and to allocate equity award costs appropriately. Alibaba Holdings is the ultimate holding shareholder of Ali Health, while Taobao Holdings, Ali JK, Perfect Advance and Alibaba are its investors. All transactions are subject to the reporting, annual review and announcement requirements of Chapter 14A of the Listing Rules, but are exempt from approval by independent shareholders. The Board of Directors has approved the relevant agreement and will continue to monitor its implementation.