China Best Group Holding Limited (HK:0370) has released an update.
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China Best Group Holding Limited has announced the unilateral termination of a 30-year franchise agreement by the Yuncheng Management Committee for their subsidiary’s centralised heating services. The termination is currently being addressed through communication and potential legal actions, with the company assessing the impact on their finances and operations. Although the termination discontinues the subsidiary’s heating services revenue stream, the company’s other businesses are not expected to suffer materially or immediately from the change.
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