Shanghai Pharmaceuticals Holding (HKG:2607) said its sales and procurement framework agreement between Shanghai Pharmaceuticals Holdings and Yunnan Baiyao expired on Dec. 31, but both companies are committed to continuing their transactions.
On the same day, the board approved and executed the agreement, effective from Jan. 1, 2025, to Dec. 31, 2025, for mutual sales and procurement of various medical and health products, according to its filing on Wednesday.
Yunnan Baiyao, holding a 17.95% stake in the company, is a substantial shareholder and thus a connected person as per the Listing Rules.
Consequently, the transactions under this new agreement are classified as continuing connected transactions, requiring reporting and annual review but exempt from circular and independent shareholders' approval due to the applicable percentage ratios.
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