China Sanjiang Fine Chemicals Co., Ltd. (HK:2198) has released an update.
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China Sanjiang Fine Chemicals Co., Ltd. has announced a new agreement with Jiaxing Rewang to supply low pressure steam to its subsidiary, Sanjiang Chemical, for three years starting January 2025. The deal, valued at up to RMB40 million annually, is a connected transaction under Hong Kong listing rules but is exempt from independent shareholders’ approval. This strategic agreement aims to secure stable steam supply for Sanjiang Chemical’s operations.
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