Summary by Moomoo AI
JS global life Limited ("JS global life") announced on October 30, 2024, that its wholly-owned subsidiary SharkNinja Europe had signed revised product development agreements with JS Global Trading, as well as model engineering and quality control service agreements with Joyoung small appliances. The revisions to these agreements aim to modify the payment terms of service fees and mold costs, and expand SharkNinja Group's product development support in the Asia-Pacific market. In accordance with Chapter 14A of the Listing Rules, as SharkNinja Europe is an associate of JS global life, these agreements constitute continuing connected transactions. The revised annual cap for the product development agreement is $6.75 million for the year ending December 31, 2025, and $8.4 million for the year ending December 31, 2026. The proposed annual cap for the model engineering and quality control service agreement is ¥24 million for the year ending December 31, 2024. The board of directors believes that these agreements are in the overall interest of the company and shareholders, and will be conducted on normal commercial terms.
