Shanghai Chicmax Cosmetics Co., Ltd. Class H (HK:2145) has released an update.
Shanghai Chicmax Cosmetic Co., Ltd. has announced the formation of a new joint venture, with a majority stake of 51% held by Shanghai One Leaf after a RMB10.2 million investment. The joint venture and subsequent transactions, including a Product Sales Framework Agreement, are classified as connected transactions under the Listing Rules, due to familial links within the company’s executive board. These developments require compliance with regulatory reporting and approval processes, with executive Director Mr. Lyu Yixiong abstaining from the vote due to a conflict of interest.
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