23, Conch Cement announced that the company and Conch Science and Technology had signed the Purchase Contract for Cement Admixtures and the Framework Agreement for the Purchase of Concrete and Other Admixtures. It is valid from January 1, 2025 to December 31, 2025.
Pursuant to the Purchase of Cement Admixtures Contract, the annual cap for the purchase of cement admixtures by the Company from Conch Technology is RMB720 million,
while the annual cap for the Purchase of Concrete and Other Admixtures Framework Agreement is RMB60 million.
This transaction constitutes a continuous related transaction between the company and Conch Technology, because Conch Technology is a related person of the company.
According to the Listing Rules, the transactions under the two contracts shall be aggregated, with an aggregate annual cap of 780 million yuan , and the applicable percentage ratios are more than 0.1% but less than 5%.
Accordingly, these transactions will be subject to the annual review and disclosure requirements, but will not require independent shareholders' approval.
The company said that the use of admixtures helps to improve production efficiency, reduce costs and improve product quality.
