The latest announcement is out from PICC Property & Casualty Co ( (HK:2328) ).
PICC Property & Casualty Co has entered into a one-year Auto Spare Parts Procurement Contract with Bangbang Auto Sales & Services, effective from April 17, 2025, to April 16, 2026. This contract involves the purchase of spare parts for repairing insured vehicles damaged in accidents, with Bangbang Auto responsible for delivery, installation, and additional services such as warranty and training. The transaction is classified as a continuing connected transaction under the Listing Rules, with a payment cap of RMB 250 million for 2025 and RMB 50 million for early 2026. This strategic partnership aims to streamline operations and ensure fair pricing by evaluating multiple e-commerce platforms, potentially enhancing the company’s efficiency in claims processing.
More about PICC Property & Casualty Co
YTD Price Performance: 16.00%
Average Trading Volume: 7,033
Technical Sentiment Signal: Strong Sell
Current Market Cap: $40.29B
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