On February 24, Conch Environmental Protection announced the signing of a framework agreement with China Building Materials to renew the framework agreement for co-disposal of cement kilns.
The agreement is effective from January 1, 2025 and lasts for three years until December 31, 2027. According to the agreement, CNBM will provide comprehensive cement kiln co-processing services and related support services to the Company. As CNBM holds a 50% equity interest in Haijian Hong Kong, a subsidiary of the Company, the renewed transaction constitutes a continuing connected transaction of the Company. According to the
announcement, the annual caps for the renewal of the framework agreement with China Building Materials in 2025 are 50 million yuan, 51 million yuan and 53 million yuan, respectively, and the maximum applicable percentage ratio of related transactions is more than 1% but less than 5%.
In addition, in the past three years, the cost of cement kiln co-disposal services provided by CNBM was 118 million yuan, 87.91 million yuan and 32.15 million yuan, respectively, showing a downward trend year by year. The board of directors of
the Company is of the view that the terms of the Renewal Agreement are fair and reasonable and in the interests of the Company and its shareholders as a whole.
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