Sinopec Shanghai Signs Entrustment Deal with Baling

Sinopec Shanghai Petrochemical Co (HK:0338) has released an update.

Sinopec Shanghai Petrochemical Company Limited has announced a connected transaction involving an Entrustment Contract with Baling New Materials. The company will provide personnel secondment services for Baling’s thermoplastic elastomer project for RMB84.80 million. This transaction, while subject to reporting and announcement requirements, does not necessitate independent shareholders’ approval under Hong Kong Listing Rules.

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