Shouju University (01329) issued an announcement that on September 28, 2023, Chongqing Shouju, an indirect wholly-owned subsidiary of the company, entered into a supply agreement with Chongqing Ya Jin. Chongqing Shouju agreed to supply and Chongqing Ya Jin agreed to purchase consumption coupons in accordance with the terms of the supply agreement.
Chongqing Yajin may purchase up to 60 sets of consumption coupons each with a face value not exceeding RMB80,000 (including any applicable taxes) from Chongqing from time to time during the term of the supply agreement, with a total face value not exceeding RMB 4.8 million (including any applicable taxes).
The proposed transaction under the supply agreement will give full play to the synergy between Chongqing Shouju and Chongqing Yajin. The purchase of consumption coupons for customers through Chongqing Yajin will indirectly promote the creation of OUTLETS in Chongqing and will also bring benefits to Chongqing. In addition, OUTLETS's passenger flow is expected to increase, helping to attract reputable merchants to join and expand the tenant base. Therefore, the improvement of the quality and diversity of Chongqing's first OUTLETS business will help consolidate its position as a mainstream shopping mall, attract a wider range of customers and improve its market competitiveness, thus contributing to the overall development and profitability of Chongqing.