ASSET MANAGEMENT SERVICES FRAMEWORK AGREEMENT Clause Samples

ASSET MANAGEMENT SERVICES FRAMEWORK AGREEMENT. WITH SHANDONG ENERGY 1. Background 2. Details of the agreement (i) The asset management fees charged by the Group as the manager of the collective asset management schemes are calculated by multiplying the investment amounts of Shandong Energy and/or its Associates in the collective asset management schemes with the asset management fees rate; and (ii) For collective asset management schemes, the asset management fees rate as stipulated in the collective asset management contracts is applicable to other investors participating in such schemes equally and evenly, including Shandong Energy and/ or its associates and any other independent third party investor participants. Such asset management fees rate is also comparable to, or no less favorable than, the asset management fees rate charged by the Group on any other independent third party for other similar asset management schemes. All the historical transaction amounts of the asset management services provided by the Group to Shandong Energy and/or its associates for the three years ended 31 December 2020, 31 December 2021 and 31 December 2022 were 0. The maximum daily amount of collective asset management schemes purchased by Shandong Energy and/or its associates from the Group, and the maximum annual asset management fees to be paid by them for the three years ending 31 December 2023, 2024 and 2025 shall not exceed the caps set out below: Proposed annual caps for the year ending 31 December (RMB’000) ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ The maximum daily amount invested for purchase of asset management schemes by Shandong Energy and/or its associates from the Company 800,000 1,000,000 1,200,000 Asset management fees (based on the asset management fees rate of 1.5%) received from Shandong Energy and/or its associates 12,000 15,000 18,000 The above proposed annual caps are determined with reference to historical amounts on the basis that: 1. the collective asset management schemes of which the Company acts as the manager mainly invest in bulk commodities and derivatives, which is in line with the nature of Shandong Energy as a bulk commodity producer, and can better meet the futures-related investment needs of Shandong Energy, and it is expected that the business cooperation between the Company and Shandong Energy will be further strengthened. The calculation formula of asset management fees charged by the Company on Shandong Energy is: the total amount of the collective asset management schemes purchased by Shandong Energy × t...