Summary by Futu AI
ON 28 DECEMBER 2023, JINMAO CHINA ANNOUNCED THAT ITS INDIRECT NON-WHOLLY OWNED SUBSIDIARY YANGMAO REAL ESTATE HAS SIGNED A NEW FRAMEWORK AGREEMENT WITH WHOLEMAY & PINGJIA INVESTMENTS AND WILL CONTINUE TO PROVIDE DELEGATED LOANS. The new framework agreement will take effect from the same date and will be valid until 31 December 2024. The move comes as the original framework agreement expires on 31 December 2023. Under the new agreement, Yingmao Properties will provide loans to All Hai & Pingjia Investments or its designated entities at a proportion of shareholders' equity, and the transaction constitutes a continuing connected transaction. Since Pingjia invests in a subsidiary of Ping'an China, Ping'an China holds 13.24% of China's Jinmao shares, so Pingjia Investments and All Seas are related parties...Show More