Automated Systems Holdings (HKG:0771) signed a new supply agreement with Beijing Teamsun Technology (SHA:600410) to handle product supply and service sharing from Jan. 27, 2025, to Dec. 31, 2027, to avoid possible violations of disclosure laws due to exceeding the de minimis threshold, according to a Tuesday filing with the Hong Kong bourse.
The transactions are typically under HK$3 million, monthly or yearly, under the 5% listing rules. However, the two sides expect the volume to increase in the future, which can require the details to be disclosed.
Teamsun owns 67.66% of the Group. The deal ensures all transactions follow reporting and review rules under stock exchange guidelines. While approvals from shareholders aren't needed, the agreement will help manage increased business activities effectively.
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