Summary by Moomoo AI
Inter-Pacific Textile Holdings Limited (“Inter-Tai Textile”) issued a supplemental notice on 3 April 2024 detailing the ongoing connected transaction and pricing policy with the Toray Group. This announcement is in addition to the announcement of 22 March 2024, which mentions the maximum amount of transactions made under the Master Agreement and the annual cap. Inter-Pacific Textiles explains that the standard price of fabrics is determined based on raw material costs, weaving methods, product specifications and other production costs, and final prices are negotiated based on the detailed requirements of the product, quantity, weight, delivery period and market conditions. The company emphasizes that the price of each transaction is subject to internal control approval to ensure that the price is reasonable and in the best interests of the company and its shareholders. The announcement was made by Mr. Ao Fu Shing, Chairman and Chief Executive Officer, Mr. Ao Fu Shing, on behalf of the Board of Directors.