Summary by Moomoo AI
China Res Beer announced on June 27, 2024 that it had signed a three-year liquor product supply framework agreement with its indirect controlling shareholder, China Resources Group, from January 1, 2024 to December 31, 2026. The agreement allows China Res Beer to supply liquor products, including beer and baijiu, to China Resources Group and its subsidiary companies for retail, distribution and internal sales. As the applicable percentage involved in this transaction exceeds 0.1% but is lower than 5%, reporting, announcement and annual review only need to be made in accordance with Chapter 14A of the Listing Rules and exempted from independent shareholder approval. China Res Beer stated that this agreement will help to make use of China Resources Group's extensive customer base and explore new markets through online and offline sales channels. The company has taken internal control measures to ensure the fairness of the transaction and will periodically review and propose an annual sales limit based on the actual sales situation.