Shougang Century Holdings (HKG:0103) signed a Patent License Agreement with its substantial shareholder NV Bekaertt, according to a Monday filing with the Hong Kong bourse.
The deal gives non-exclusive rights to manufacture and sell patented steel cord products to two of Shougang Century's subsidiaries in China. Due to increased product sales, royalty payments for 2024 are expected to exceed initial thresholds, leading the company to set a cap of 3.5 million yuan for the year.
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