Summary by Futu AI
Yankuang Energy announced on August 30, 2024 that the board of directors has reviewed and approved a series of ongoing related party transactions agreements with Shandong Energy Group and its affiliates. This includes the update of the labor and service mutual supply agreement, the insurance fund management agreement, and the amendment of the existing CSI Commodity Equity Index purchase and sale agreement annual cap. These agreements will cover two fiscal years from 2024 to December 31, 2025. According to the listing rules, the annual cap revision of these transactions needs to comply with the declaration, annual audit, and announcement regulations, but is exempt from the requirement of independent shareholder approval. The Company will convene an extraordinary general meeting for the approval of these agreements and their annual cap by independent shareholders. Shandong Energy and its affiliates will waive their voting rights. The board of directors believes that these transaction terms and caps are fair, reasonable, and in the overall interest of the Company and shareholders.
