On December 30, 2024, Zhejiang Hu-Hang-Yong signed a human resource business outsourcing service framework agreement with JiaoTao Talent, effective from January 1, 2025, to December 31, 2025. According to the agreement, JiaoTao Talent will provide outsourcing services for various positions including frontline production, logistics services, and research and development for the Zhejiang Hu-Hang-Yong Group, with a total cost not exceeding RMB 85.3 million. This Trade constitutes a continuing connected transaction, as the applicable percentage exceeds 0.1% but is below 5%, and it must comply with the disclosure, announcement, and annual audit requirements of the listing rules, although it is exempt from the requirement of independent Shareholder approval. The cost of the agreement is determined with reference to market prices and third-party appraisal reports, ensuring...Show More

On December 30, 2024, Zhejiang Hu-Hang-Yong signed a human resource business outsourcing service framework agreement with JiaoTao Talent, effective from January 1, 2025, to December 31, 2025. According to the agreement, JiaoTao Talent will provide outsourcing services for various positions including frontline production, logistics services, and research and development for the Zhejiang Hu-Hang-Yong Group, with a total cost not exceeding RMB 85.3 million. This Trade constitutes a continuing connected transaction, as the applicable percentage exceeds 0.1% but is below 5%, and it must comply with the disclosure, announcement, and annual audit requirements of the listing rules, although it is exempt from the requirement of independent Shareholder approval. The cost of the agreement is determined with reference to market prices and third-party appraisal reports, ensuring it is no less favorable than the conditions offered by independent third parties. The purpose of entering into this agreement is to meet the requirements of the State-owned Assets Supervision and Administration Commission regarding the ratio of labor dispatch employment, and to integrate existing decentralized labor outsourcing models to enhance management efficiency. Zhejiang Hu-Hang-Yong believes that JiaoTao Talent possesses the relevant professional capabilities and experience to meet the company's operational needs, and the terms of the agreement are fair and reasonable, aligning with the overall interests of the company and Shareholders.