Summary by Moomoo AI
CMOC Limited (CMOC) announced on October 28, 2024, that its board of directors has approved a new house rental framework agreement with the controlling shareholder, Hongshang Group. The agreement will start on January 1, 2025, for a period of three years until December 31, 2027. Under the agreement, Hongshang Group will provide CMOC with house rental and related property management services. This trade is considered a continuing connected transaction due to involving related parties, and must comply with the disclosure, annual review, and announcement requirements of Chapter 14A of the Listing Rules of the Hong Kong Stock Exchange. The annual transaction limit of the agreement is 60 million Chinese yuan, including 54 million yuan for rent and 6 million yuan for property management fees. The agreement aims to ensure the stable operation of CMOC's business, in line with the overall interests of the company and shareholders. As of the announcement date, the agreement has not been signed, and the company will make timely announcements after the final agreement is reached.
