Huabao International Holdings (HK:0336) has released an update.
Huabao International Holdings reports connected transactions with Guangdong Tobacco Company involving the sale and purchase of tobacco raw materials, totaling approximately RMB 35.22 million. These transactions have triggered reporting and disclosure obligations under the Hong Kong Listing Rules since they amount to over 1% of the applicable percentage ratio, yet fall under the 5% threshold, exempting them from the need for independent shareholder approval. The company holds a majority stake in Guangdong Jinke, with Guangdong Tobacco also having a significant interest, defining these dealings as connected transactions.
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