Summary by Futu AI
QINGDAO BEER CO., LTD. ANNOUNCED ON 22 JANUARY 2024 THAT IT HAS SIGNED SEVERAL FRAMEWORK AGREEMENTS WITH ITS HOLDING SHAREHOLDER QING BEER GROUP AND ITS WHOLLY OWNED AND INDIRECT SUBSIDIARIES JUJAI HEALTH, SMART CHAIN SHUNDA, ETC. These agreements cover integrated services, commissioned production and purchase of products, license to use trademarks, and supply chain business services, and are valid from January 1, 2024 to December 31, 2024. Under Chapter 14A of the Listing Rules, these transactions constitute continuing connected transactions, but are exempt from compliance with independent shareholder approval requirements as all applicable percentages of the expected annual amount are less than 5%. These agreements are designed to enhance the profitability and brand reputation of Qingdao Beer through strategic synergies and help reduce logistics costs and improve operational efficiency.