Oneconnect Financial Technology Co Ltd (OCFT) has released an update.
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OneConnect Financial Technology Co., Ltd. has entered into a new 2024 Services Purchasing Agreement with its controlling shareholder, Ping An, effective from April 23, 2024, to December 31, 2024, for a suite of services including financial, administrative, risk control, and HR. The agreement, valued at RMB3.08 million, follows a history of purchasing services from Ping An due to their deep understanding of OneConnect’s business needs and is deemed by the Board to be in the best interest of the Company and its Shareholders. This connected transaction, while subject to reporting and annual review, does not require independent Shareholders’ approval as it falls below the 5% threshold.
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