Summary by Moomoo AI
ALI HEALTH INFORMATION TECHNOLOGY CO., LTD. ANNOUNCES THE RENEWAL OF THE CONTINUING CONNECTED TRANSACTION AGREEMENT WITH ALI MAMA AND TAOBAO CHINA. The transaction involves the Marketing Promotion Services Framework Agreement 2025 to 2027 and the Technical Services Framework Agreement, which will end on 31 March 2027. Under the agreement, Ali Health expects total service fees to be paid no more than RMB26.4 billion to RMB29.04 billion over the next three years. Since the annual maximum applicable percentage rate for transactions is higher than 5%, declarations, announcements, annual reviews and independent shareholder approvals are subject to Chapter 14A of the Listing Rules. Alibaba Holdings is the ultimate controlling shareholder of Ali Health and holds shares in Ali Health through its wholly-owned subsidiaries. Ali Health will send relevant circulars on or before March 12, 2024 and will hold an Extraordinary General Meeting to seek independent shareholder approval.
