Tianli International Holdings Limited announced that it will sign a three-year school construction framework agreement with its wholly-owned subsidiary Nanyuan Construction from September 1, 2024, to August 31, 2027. This agreement is a continuous related-party transaction between the company and Nanyuan Construction, which indirectly owns approximately 75.80% equity interest through Mr. Luo Shi's shareholding. Under the agreement, Nanyuan Construction will provide construction-related services to Tianli Education and its affiliated companies and schools, including school construction, expansion, and renovation projects. The service fees will be calculated based on market conditions, adding a premium of 9% to 11% based on actual costs. The company expects to open about three to five self-operated schools in the next three years and will send a circular...Show More

Tianli International Holdings Limited announced that it will sign a three-year school construction framework agreement with its wholly-owned subsidiary Nanyuan Construction from September 1, 2024, to August 31, 2027. This agreement is a continuous related-party transaction between the company and Nanyuan Construction, which indirectly owns approximately 75.80% equity interest through Mr. Luo Shi's shareholding. Under the agreement, Nanyuan Construction will provide construction-related services to Tianli Education and its affiliated companies and schools, including school construction, expansion, and renovation projects. The service fees will be calculated based on market conditions, adding a premium of 9% to 11% based on actual costs. The company expects to open about three to five self-operated schools in the next three years and will send a circular to shareholders on or before August 5, 2024, explaining the transaction terms and the Independent Director Committee's recommendation in detail. In addition, Mr. Luo Shi will give up his voting rights on the agreement and transactions at the shareholders' meeting. The company has implemented internal monitoring measures to monitor the transaction and ensure that it does not exceed the annual limit.