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Global Bio-chem Technology Group Co. Ltd. ( (HK:0809) ) just unveiled an announcement.
Global Bio-chem Technology Group Company Limited has signed a supplemental agreement with Jilin Agricultural Development Group (Nongfa) to update the pricing mechanism for corn kernels supplied under their existing master supply arrangement, which runs until the end of 2026. Following the discontinuation of corn price data on China Corn Network, the company will now cap the unit price of corn kernels at the higher of the average transaction price on the Dalian Commodity Exchange and the highest corn procurement price in Jilin Province as quoted by independent platform Mysteel, with alternative reputable sources allowed if these websites are unavailable. Other terms and annual caps of the master supply agreement remain unchanged, and the board, including independent directors, views the revised pricing framework as fair, reasonable and in the best interests of shareholders, helping maintain transparent, market-based input costs for the group’s corn-dependent production operations.
The most recent analyst rating on (HK:0809) stock is a Hold with a HK$0.08 price target. To see the full list of analyst forecasts on Global Bio-chem Technology Group Co. Ltd. stock, see the HK:0809 Stock Forecast page.
More about Global Bio-chem Technology Group Co. Ltd.
Global Bio-chem Technology Group Company Limited is a PRC-based manufacturer focused on corn refined products and corn-based biochemical products, operating through a group structure with subsidiaries and sourcing corn kernels from designated suppliers.
Average Trading Volume: 6,686,140
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.14B
See more data about 0809 stock on TipRanks’ Stock Analysis page.