Powerlong Extends Security Services Partnership

Powerlong Real Estate Holdings Ltd. (HK:1238) has released an update.

Powerlong Real Estate Holdings Limited has renewed its security services agreement with Fujian Pingan, extending the partnership for another three years from January 2025 to December 2027. The agreement, which involves the provision of various security system services including automation and safety monitoring, is a connected transaction due to the shared ownership by a relative of an executive director and substantial shareholder of the company. The terms of the deal are consistent with commercial norms, ensuring favorable conditions comparable to those with other independent service providers.

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