Summary by Moomoo AI
China Conch Venture Holdings Limited (Conch Venture) announced on June 27, 2024 that it has signed a series of continuous related transaction agreements with Conch Group and its related subsidiaries, including sales commodity framework agreement, procurement commodity framework agreement, technology and other service framework agreements, and service provision framework agreement. These agreements aim to ensure the sustainability of the group's operations and reduce interference with its business, and are expected to provide a stable source of income for Conch Venture. Conch Group became the main shareholder of Conch Venture on March 5, 2024, holding approximately 10% of the shares and becoming a related party. According to the listing rules, these transactions need to comply with declaration, annual review, and announcement regulations, but are exempt from independent shareholder approval. Conch Venture's main business includes the construction and operation of garbage power generation projects, production and sales of new energy materials and new building materials, and port logistics services.
