Summary by Moomoo AI
Cifi es service announced on October 29, 2024, that it will renew the 2025 Cifi sales agency service framework agreement with its controlling shareholder Cifi Holdings, from January 1, 2025, to December 31, 2027. The agreement involves the sales agency service for unsold residences, shops, and parking spaces in Cifi Group's development projects in china. According to the listing rules, CIFI Holdings is a related party, hence this transaction constitutes a continuing related party transaction. The suggested annual upper limit for commissions exceeds 0.1% but is less than 5%, while the suggested annual upper limit for advances exceeds 5%, therefore, compliance with relevant reporting, announcement, annual review, and independent shareholder approval regulations is required. The company will send a circular by November 30, 2024, or earlier, and convene a special general meeting of shareholders for independent shareholders to consider and approve the proposed limits. The Board of Directors believes that the renewal agreement and its terms are fair and reasonable, meeting the overall interests of the company and shareholders.
