Tenfu (Cayman) Holdings Co (HK:6868) has released an update.
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Tenfu (Cayman) Holdings Co. has initiated a three-year Uncle Lee Master Sale Agreement commencing from January 2024 to December 2026, involving the sale of tea leaves with annual caps escalating up to RMB 14.52 million. The deal involves key shareholders and relatives, falling under connected transactions according to Listing Rules, requiring reporting and review but no independent shareholder approval. The pricing of tea leaves will be determined by market prices and terms comparable to those offered to independent third parties.
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