Summary by Moomoo AI
Hongye Futures signed three framework agreements with its holding shareholder, Jiangsu Province Soho Holdings Group Limited, including the Financial Services Framework Agreement, the Trade Framework Agreement and the Financial Investment Framework Agreement. These agreements are intended to govern the conduct and provision of services by both parties over the next three years, and set a cap on fees for related services. Hongye Futures held a Board meeting on April 26, 2024, to review the resolution of the continuing associated transaction with Soho Holdings, with the consent of all independent directors. CITIC Securities, as a sponsor, conducted a prudential review of this related transaction and considered the transaction process to be legally compliant, without objection. The transaction is still subject to submission to the Company's General Meeting for consideration. This related transaction is considered to have a positive impact on the financial condition and operating objectives of Honghia Futures and related parties.