HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The tables below set out the historical figures and the proposed annual caps for the transactions contemplated under the 2022 Master Sales Agreement: Historical figures Year ended Year ended Year ended Six months ended 31 December 2019 31 December 2020 31 December 2021 30 June 2022 RMB’million RMB’million RMB’million RMB’million Historical sales 6.4 1.0 2.6 – The proposed annual caps under the 2022 Master Sales Agreement set out above are determined based on the following:
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The Group had not engaged the BOE Group for transactions which are similar in nature to the Subcontracting Transactions, thus no historical transaction figure is available. The table below sets out the historical actual amounts paid by the Group in respect of its purchase of TFT panels and other products from the BOE Group for the three years ended 31 December 2013, 2014 and 2015, and for the nine months ended 30 September 2016. For the nine months ended 30 September 2013 HK$ million (approximate) 2014 HK$ million (approximate) 2015 HK$ million (approximate) 2016 HK$ million (approximate) Purchase of TFT panels 56.46 (including approximately HK$56.43 million incurred after the effective date of the Master Purchase Agreement (i.e. and other products 3.7 6.7 7.4 28 April 2016)) The table below sets out the Subcontracting Annual Caps and the Renewed Purchase Annual Caps for each of the three years ending 31 December 2016, 2017 and 2018. Subcontracting Transactions 10 73 138 Purchase Transactions 133 702 1,229 The Subcontracting Annual Caps are determined with reference to:
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The tables below set out the historical figures and the annual caps under the Master Sales Agreement, and the proposed annual caps under the New Master Sales Agreement:
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. For each of the two years ended 31 December 2021 and the nine months ended 30 September 2022, the Group’s total revenue attributable to the sales of the relevant products to Winning Futures and Xxx Xxxx in aggregate was approximately HK$9.9 million, HK$8.3 million and HK$5.7 million, respectively, or represents approximately 13.0%, 9.6% and 6.9% of the Group’s total revenue respectively. Based on the aforesaid historical figures, the proposed annual caps in respect of the 2022 Master Supply Agreement for each of the three years ending 31 December 2025 are HK$9,000,000, HK$9,000,000 and HK$9,000,000 respectively. The basis of the proposed annual caps in respect of the 2022 Master Supply Agreement is determined with the consideration of (i) the historical figures; and (ii) the expected demand of the relevant products by Winning Futures and Xxx Xxxx from the Group for each of the three years ending 31 December 2025 with the expectation of the economic recovery in Macau to be benefited from the gradual release of the international travel restrictions and pandemic control measures.
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The historical figures and proposed annual caps of transactions contemplated under the 2021-2023 Service Supply Framework Agreements with each of the Telecom Group Companies for the relevant period are set out below: Transactions with CMCC and its associates 898 548 279 638 684 730 Transactions with CUC and its associates 634 526 239 580 630 681 Transactions with CTC and its associates 6,591 4,906 2,297 5,638 6,169 6,705 * Unaudited In determining the proposed annual caps for the transactions contemplated under the 2021-2023 Service Supply Framework Agreements, the Company have considered, among other things, the following key factors: • historical transaction amounts set out above, especially the highest historical transaction amount; • in 2019 and 2020, there were substantial decreases in the service fees of certain services that the Group were able to obtain through bidding processes due to the adjustment of standards of certain service as requested by some clients of the Group, which resulted in the decreases in the historical transaction amounts as set out above. However, we expect that there will be no such substantial decrease in the service fees under the 2021-2023 Service Supply Framework Agreement in the future; instead, such service fees are expected to remain stable in general; • the increasing demand of the Group for outsourcing maintenance services due to the increase of the number of towers and other products in operation as well as the prospect of 5G’s future development; • it is expected that demand of the Company for design, construction and supervision services tends to increase stably in accordance with the current business and construction plan of the Company; and • market condition, availability and the reasonable price range expected for construction, design, supervision, outsourcing maintenance, intermediary, supply chain and training services provided by each of the Telecom Group Companies and their respective associates. The Company is in need of the types of services under the 2021-2023 Service Supply Framework Agreements in order to carry out its continuing business activities. The Group adopts methods such as bidding process to select relevant service providers in a fair and open manner during its ordinary and usual course of business. The Group is able to select freely among connected persons including the Telecom Group Companies and their respective associates or carry out transactions with Independent Third Parties to seek s...
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. Set out below is the aggregate historical amounts received/receivable by the Group in respect of its sales of the Products for the Tong Xxx Xxxx Technologies Group’s distribution to, among others, distributors, retailers or end-users in the PRC for the two years ended 31 December 2021 and nine months ended 30 September 2022 as well as the previous annual caps (exclusive of value-added tax in the PRC) under the Existing TRT Tech PRC Distribution Framework Agreement: Amounts received/ receivable under the Existing TRT Tech PRC Distribution Framework Agreement (exclusive of value-added tax in the PRC) (Audited) (Audited) (Unaudited) 8.7 50.0 0.7 57.0 1.8 65.0 The low utilisation of the historical annual caps was because the Group had adjusted its sales strategy on customer distribution to e-commerce distributors since 2020 and had focused on sales of the Products through the e-commerce sales channel, to which the Group had prioritised its sales effort and the Products were allocated to such sales channel as it was at its early stage of operation. It was also noted that the Tong Xxx Xxxx Technologies Group had also adjusted its sales strategies in respect of the Products. The proposed annual caps (exclusive of value-added tax in the PRC) under the Renewed TRT Tech PRC Distribution Framework Agreement for the distribution of the Products for each of the three years ending 31 December 2025 are set out below: For the year ending 31 December 0000 0000 0000 (HK$’ million) (HK$’ million) (HK$’ million) Proposed annual caps (exclusive of value-added tax in the PRC) 74.0(Note) 85.0 98.0 The proposed annual caps for the three years ending 31 December 2025 set out above are determined based on the following factors which are applicable to the Renewed TRT Tech PRC Distribution Framework Agreement:
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. For the two years ended 31 December 2018 and 2019 and the six months ended 30 June 2020, the aggregate amount of materials procured from CTC and its associates by the Group were RMB10 million, RMB60 million and RMB43 million, respectively. The proposed annual caps for transactions under the Materials Procurement Framework Agreement for the two years ending 31 December 2020 and 2021 shall be RMB120 million and RMB200 million, respectively.
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The tables below set out the historical figures of site resource service provided by the Company to CMC Group, and the proposed annual caps under the Site Resource Service Framework Agreement: Revenue of the Company generated from provision of site resource service to CMC Group 59 66 Revenue of the Company generated from provision of site resource service to CMC Group 100 180 The proposed annual caps under the Site Resource Service Framework Agreement set out above are determined based on the following:
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. The Existing TRT Group PRC Distribution Framework Agreement only covered sales of the Owned Products by the Group to Tong Xxx Xxxx Group, while the sales of Chinese Medicine Products to Tong Xxx Xxxx Ltd Group (being members of the Tong Xxx Xxxx Group) only commenced in 2022 under the Sales Framework Agreement. Set out below is the aggregate historical amounts received/receivable by the Group in respect of its sales of the Owned Products for the Tong Xxx Xxxx Group’s distribution to, among others, retailers or end- users in the PRC for the two years ended 31 December 2021 and nine months ended 30 September 2022 as well as the previous annual caps (exclusive of value-added tax in the PRC) as revised based on the announcement of the Company dated 6 November 2020 under the Existing TRT Group PRC Distribution Framework Agreement: Amounts received/ receivable under the Existing TRT Group PRC Distribution Framework Agreement (exclusive of value-added tax in the PRC) (Audited) (Audited) (Unaudited) 338.0 363.0 92.1 430.0 53.5 470.0 The low utilisation of the historical annual caps for the year ended 31 December 2021 and the nine months ended 30 September 2022 was due to the adjustment of the Group’s sales strategy after considering that there were long overdue receivables from certain subsidiaries, jointly-controlled entities and associates of the Tong Xxx Xxxx Group. Pursuant to the implementation agreements entered into between Tong Xxx Xxxx Group and the Group under the Existing TRT Group PRC Distribution Framework Agreement, the Group had granted to the Tong Xxx Xxxx Group a payment term of three months. As at 31 December 2020, the Group had recorded an amount of HK$187,570,000 from Tong Xxx Xxxx Group which was past due. Although the Directors were of the view that the overdue receivables did not pose significant credit risks to the Group given the Group had implemented stringent internal control measures, the sales to certain members of Tong Xxx Xxxx Group was halted and the Group had taken various measures, including but not limited to, issuing formal demand letters and holding discussion with the management of the Tong Xxx Xxxx Group. The overdue receivables were subsequently fully settled as at 31 December 2021. Details of the overdue receivables and the relevant settlement are set out in the announcement of the Company dated 31 December 2021. The Company entered into the Sales Framework Agreement with Tong Xxx Xxxx Ltd. (a controlling shareholder of the...
HISTORICAL FIGURES AND PROPOSED ANNUAL CAPS. For the two years ended 31 December 2018 and 2019 and the six months ended 30 June 2020, the aggregate service fees from CMCC and its associates by the Group were RMB59 million, RMB85 million and RMB74 million, respectively. The proposed annual caps for transactions under the 2021-2023 Site Resource Service Framework Agreement with CMCC for the three years ending 31 December 2021, 2022 and 2023 shall be RMB240 million, RMB350 million and RMB500 million, respectively.