Zhitong Financial APP News, Western Securities International Securities (00812) issued an announcement that since the beginning of the contract period, potential individual buyers have nominated personal representatives through potential buyers to join and expand the business operations of licensed corporations (i.e. Western Securities financing and Western Securities Asset Management) as responsible officers, licensed representatives and other employees to show that they are committed to promoting potential transactions.

In order to establish a framework to regulate the sharing of costs and expenses and profits arising from the business operation of a licensed corporation, on the same day of this announcement, the Company, potential purchasers and potential individual purchasers have entered into a business cost sharing agreement.

Under the business cost sharing agreement, the potential purchaser has agreed to bear the fixed fee payable to the company for the sharing of the income derived from the licensed corporation; and to share the expenses directly or indirectly incurred and to be incurred by individuals nominated by the potential purchaser as responsible officers, licensed representatives and ╱ or other employees of the licensed corporation in respect of the business operation of the licensed corporation during the assessment period, including salary expenses relating to the nominated representatives Taxes and expenses arising from related income.

The contractor has agreed that the relevant benefits, costs and expenses (other than fixed income) incurred or to be incurred during the entire assessment period are of a payment nature and have been or will be paid by the Company on behalf of the potential purchaser. In accordance with the terms and conditions of the business cost sharing agreement, the potential buyer is obliged to reimburse the Company for all fees incurred and to be incurred, while the potential individual buyer is obliged to indemnify the Company if the potential buyer fails to make payment.

According to the announcement, the business cost-sharing agreement is a strategic move that is essential to create new business opportunities and enhance the Group's business operations. The integration of the nominated representatives is expected to provide a new perspective and creative solutions, thereby enhancing the Group's market share and operational agility. In addition, the business cost-sharing agreement highlights the trust and commitment among the company, potential buyers and potential individual buyers, creating an environment for joint cooperation. The Board is confident that the partner Kwan will pave the way for closer and more synergistic cooperation that will ultimately benefit the company and shareholders as a whole.

As of the date of this announcement, Western Securities International Investment and potential individual buyers are discussing and negotiating potential transactions, and are conducting due diligence on potential transactions and discussing their commercial terms. Except for the business cost sharing agreement entered into between the potential individual buyer and the company (a subsidiary directly controlled by Western Securities International Investment), Western Securities International Investment and the potential individual buyer have not entered into any formal or legally binding agreement on the potential transaction.