CBK Holdings (08428) released an announcement that on July 15, 2024, its indirectly wholly-owned subsidiary, Shen Hua Rong Trading (Shenzhen) Co., Ltd., received a letter from Humeide concerning the termination of a memorandum of strategic cooperation due to recent personnel changes in the group. After making all reasonable inquiries, the directors are aware of and convinced that the memorandum of strategic cooperation was terminated due to the resignation of the former chairman and executive director, Mr. Yue Dinglong (effective from July 10, 2024), and the memorandum of strategic cooperation with Humeide was initiated and negotiated by Mr. Yue Dinglong.
CBK Holdings (08428) announced that on July 15, 2024, its wholly-owned subsidiary, Shen Hua Rong Trading (Shenzhen) Co., Ltd., received a letter from Humeide concerning the termination of a memorandum of strategic cooperation due to recent personnel changes in the group. After conducting all reasonable enquiries, the Directors are aware and believe that the memorandum of strategic cooperation was terminated due to the resignation of Mr. Yue Dinglong, the former Chairman and Executive Director of the company (effective from July 10, 2024), and the memorandum of strategic cooperation with Humeide was initiated and negotiated by Mr. Yue Dinglong.
As a result, potential cooperation to be carried out under the memorandum of strategic cooperation will not proceed. The termination of the memorandum of strategic cooperation and potential cooperation will not have any material adverse impact on the business or financial position of the Group.