According to Zhitong Finance App News, Premium 360 (02360) announced that on January 26, 2024, the company (for itself and its subsidiaries) entered into a sales and procurement framework agreement with China Merchants Haitong (for itself and its subsidiaries (other than the Group)) to monitor China Merchants Haitong procurement transactions and China Merchants Haitong sales transactions for a period of one year from January 1, 2024 to December 31, 2024.
The annual limits for China Merchants Haitong procurement transactions and China Merchants Haitong sales transactions for the year ended 31 December 2024 are HK$35 million and HK$25.6 million respectively.
The conclusion of the China Merchants Haitong sales and procurement framework agreement is beneficial to both the Group's procurement and B2B sales. This arrangement not only increases the Group's revenue stream, but also ensures a stable supply chain. Furthermore, the arrangement meets the Group's business development needs, achieves synergy in a fair and reasonable manner, and achieves a situation of complementary resources and a win-win situation for all parties.
The Group will reserve flexibility and discretion to select suppliers and customers from China Merchants Haitong and/or other independent third parties through fair negotiations after considering commercial terms and other factors.