China Jinmao Enters Three-Year Connected HR Services Framework with Sinochem Unit

An update from China Jinmao Holdings Group Limited ( (HK:0817) ) is now available.

China Jinmao has signed a Human Resources Services Framework Agreement with Sinochem Fangsheng, a connected company within the Sinochem group, under which it will procure a range of outsourced and agency HR services, including labour dispatch, outsourcing of sales and customer service functions, and benefits administration, on a non-exclusive, as-needed basis until 31 December 2027. As the ultimate parent Sinochem Holdings controls both parties, the arrangement constitutes a continuing connected transaction under Hong Kong listing rules and is therefore subject to reporting, announcement and annual review requirements, with pricing required to be no less favourable than that offered by Sinochem Fangsheng to third parties, but it is exempt from independent shareholders’ approval due to its scale, signalling a formalised yet relatively moderate related-party service framework for stakeholders to monitor.

The most recent analyst rating on (HK:0817) stock is a Buy with a HK$1.70 price target. To see the full list of analyst forecasts on China Jinmao Holdings Group Limited stock, see the HK:0817 Stock Forecast page.

More about China Jinmao Holdings Group Limited

China Jinmao Holdings Group Limited is a Hong Kong–incorporated company listed on the Stock Exchange of Hong Kong, operating under the umbrella of state-owned Sinochem Holdings, its ultimate controlling shareholder. The group is part of a wider Sinochem ecosystem and leverages intra-group services and resources, reflecting a business model closely linked with its parent’s broader commercial and support-service platforms.

Average Trading Volume: 29,703,591

Technical Sentiment Signal: Sell

Current Market Cap: HK$16.35B

Find detailed analytics on 0817 stock on TipRanks’ Stock Analysis page.