Summary by Futu AI
Wing Cheong Bios announced on 26 April 2024 that in view of accelerating R&D progress, it will revise the annual cap of the Macquarie General Services Agreement and the Material Procurement Framework Agreement from 2023 to 2025. The transaction amounts involved in the revision are expected to exceed the original annual cap and therefore require independent shareholder approval. Mayberry and Cypress are related persons of Rong Cheong Biome and are engaged in ongoing connected transactions pursuant to Rule 14A.12 (1) (c) of Listing Rules. As revised, the MABRI total service cap was increased from RMB60,000,000 to RMB80,000,000 in 2024, and the material procurement ceiling for 2024 to 2025 was adjusted from RMB60,000,000 and $65,000,000 to $75,000,000 and $90,000,000, respectively. THE COMPANY WILL HOLD ITS ANNUAL GENERAL MEETING ON 28 JUNE 2024 TO APPROVE THE RELEVANT AMENDMENTS.