Automobile Components Procurement Agreement Sample Clauses

Automobile Components Procurement Agreement. Reference is made to (i) the 2018 Services Agreement in relation to the purchase of automobile parts and components by the Group from the Geely Holding Group; and (ii) the Company’s announcement dated 5 October 2018 in relation to the 2018 Automobile Components Procurement Agreement pursuant to which the Group conditionally agreed to procure automobile components from the Geely Holding Group. Taking into consideration (i) the upcoming expiry of the 2018 Services Agreement and the 2018 Automobile Components Procurement Agreement; and (ii) the similar nature of the procurement transactions of automobile components pursuant to the 2018 Services Agreement and the 2018 Automobile Components Procurement Agreement, on 15 October 2021 (after trading hours), the Company and Geely Holding entered into the Automobile Components Procurement Agreement to streamline the continuing connected transactions in relation to the procurement of automobile components by the Group from the Geely Holding Group. For the avoidance of doubt, the automobile components that will be procured by the Group from the Geely Holding Group pursuant to the Automobile Components Procurement Agreement are different from the CKDs and automobile components procured by the Group from the Geely Holding Group pursuant to the Existing Master CKDs and Automobile Components Purchase Agreement. Under the Automobile Components Procurement Agreement, the automobile components to be procured by the Group are those that are either (i) procured by the Geely Holding Group from other suppliers for onward selling to the Group based on the original purchase costs plus the actual costs incurred by the Geely Holding Group in the procurement process of such automobile components or (ii) manufactured by the Geely Holding Group which will be sold to the Group based on the prevailing market price of similar products. Under the Existing Master CKDs and Automobile Components Purchase Agreement, the CKDs and automobile components to be purchased by the Group are those that are tailor made for the Group and to be sold at prices calculated on a cost-plus basis. Principal terms of the Automobile Components Procurement Agreement are set out below: Date 15 October 2021 (after trading hours) Parties Vendor: Geely Holding Purchaser: The Company Please refer to the paragraph headed “Non-exempt Continuing Connected Transactions – (A) Services Agreement – Parties” in this announcement for further details regarding the Company and Ge...
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