China Display Optoelectronics Technology (HKG:0334) said it was revising its sale and purchase agreement with major shareholder TCL Technology Group (SHE:000100) to meet demand, according to a Hong Kong bourse filing Tuesday.
Shares of the LCD modules seller jumped over 14% in afternoon trade Wednesday.
The company proposed increasing its 2025 sales revenue limit to 60% from 50% of total revenue to meet large orders.
It also proposed raising its 2025 sales cap to TCL to 4.2 billion yuan from 2.5 billion yuan, and its 2026 cap to 3.8 billion yuan from 3 billion yuan.
The 2027 cap would remain unchanged at 3.6 billion yuan.
Purchases from TCL would also rise, with the 2025 cap lifted to 3.2 billion yuan from 2.5 billion yuan, the 2026 cap to 3.8 billion yuan from 3 billion yuan, and the 2027 cap to 4.2 billion yuan from 3.6 billion yuan.
The proposals are subject to shareholder approval which will be sought on Sept. 30.
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