China Merchants Securities Co., Ltd. Class H (HK:6099) has released an update.
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China Merchants Securities Co., Ltd. has announced an upward revision of its annual caps for continuing connected transactions under the 2022 Administrative Procurement Framework Agreement. The revision reflects higher than expected transaction amounts, leading to an increase in the annual cap for 2023 to RMB92 million, and a further hike for 2024 up to RMB151.5 million. These transactions involve procurement of administrative supplies and services from the controlling shareholder, China Merchants Group, and its associates.
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