Cowell announced on July 17, 2024 that it will revise the annual upper limit of continuing connected transactions with Luxshare Precision, Sertech, and Guangzhou Li Jing. This move is based on the rapid increase in demand for the company's products in the market, especially the increasing demand for rear camera modules for smart phones, and the continuous increase in demand for LS products from Sertech group. The company expects this situation to continue at least until the end of 2025. In response to this change, the company has signed supplementary agreements with the above three parties to adjust the annual upper limit for 2024 and/or 2025. According to the listing rules, as the percentage of the transaction amount exceeds 5%, these transactions constitute non...Show More

Cowell announced on July 17, 2024 that it will revise the annual upper limit of continuing connected transactions with Luxshare Precision, Sertech, and Guangzhou Li Jing. This move is based on the rapid increase in demand for the company's products in the market, especially the increasing demand for rear camera modules for smart phones, and the continuous increase in demand for LS products from Sertech group. The company expects this situation to continue at least until the end of 2025. In response to this change, the company has signed supplementary agreements with the above three parties to adjust the annual upper limit for 2024 and/or 2025. According to the listing rules, as the percentage of the transaction amount exceeds 5%, these transactions constitute non-exempt continuing connected transactions, which must comply with the regulations for reporting, publication, annual review, and independent shareholder approval. The independent directors' committee will provide opinions to independent shareholders on the terms of the supplementary agreement and the proposed annual upper limit, and independent financial adviser Vermillion International Limited will also provide opinions. The company will send a circular to shareholders containing details of the supplementary agreement on or before August 7, 2024, and will convene a special general meeting of shareholders to seek approval.