Proposed Annual Caps. The proposed annual caps for the transactions in relation to the provision of Contract Energy Management, Contract Environment Management and Exclusive Operation by CR Energy Services or its subsidiaries pursuant to the Framework Agreement for the years ending 31 December 2014, 2015 and 2016 are expected to be RMB100 million, RMB300 million and RMB500 million, respectively (equivalent to approximately HK$126.21 million, HK$378.63 million and HK$631.05 million, respectively). The proposed annual caps for the transactions in relation to the provision of Contract Energy Management, Contract Environment Management and Exclusive Operation pursuant to the Framework Agreement have been determined after arm’s length negotiation with reference to (i) the historical transaction amount; (ii) with respect to Contract Energy Management and Contract Environment Management, the expected amount of capital expenditure to be undertaken by CR Energy Services or its subsidiaries on the relevant projects, the term of the individual contracts and the rate of return determined by CR Energy Services at the tender conducted by the Group; and (iii) with respect to Exclusive Operation, the total amount of net power generation and the maximum amount of subsidies for electricity price of RMB1.5 cent/kWh, RMB1 cent/kWh and RMB0.2 cent/kWh pursuant to the relevant national policies in relation to franchised desulfurization, denitration and ash-removal projects in the PRC, respectively.
Proposed Annual Caps. In connection with the transactions contemplated under the Management Agreement, the table below sets out the Proposed Annual Caps of amounts payable by the Group to China Cargo Airlines for each of the three years ending 31 December 2017, 2018 and 2019, respectively. Management fee payable to China Cargo Airlines by the Group 300 500 700 The Proposed Annual Caps of amounts of management fees payable by the Group to China Cargo Airlines are mainly based on the following: (i) the level of operation and development trend in the industry for comparable markets; (ii) the actual ATK (available tonne-kilometres) for bellyhold space calculated based on the plan of introduction of passenger flights of the Company, its branches and subsidiaries; (iii) the revenue level forecast in the next year arrived at using regression analysis based on the historical level of revenue for the respective routes, and the projection of annual management benchmarks together with the amount of relevant annual caps arrived at based on the annual bellyhold space cargo transportation volume and revenue level forecast. In particular, the revenue generated from bellyhold space business of the Company amounted to RMB2,384 million, RMB2,605 million and RMB2,011 million for the two years ended 2015 and the first three quarters of 2016, respectively. With reference to the above historical operating data of the bellyhold space business, the plan of passenger flights for the three years ending 2019 and the increase of carrying capacity of the bellyhold space, as well as the trend of air cargo transportation market, the Company estimated that the annual growth rate of carrying volume of the bellyhold space will reach 8–10% and the annual growth rate of revenue of the bellyhold space business will reach 7–11% for the three years ending 2019. (Note: As affected by factors including the plan of introducing/quitting passenger flights, the fluctuation of demand for international cargo transportation market, market competition and the geopolitics, the carrying capacity and revenue of the bellyhold space business of the Company for 2017–2019 may vary significantly from the growth rate anticipated by the Company. The actual amount of the management fee for the bellyhold space services may therefore vary significantly from the Proposed Annual Caps.)
Proposed Annual Caps. It is proposed that the annual caps for the transactions contemplated under the Master Agreement shall be HK$100 million, HK$100 million and HK$100 million for each of the three years ending 31 March 2024 respectively. The proposed annual caps have been determined by the Board with reference to: (i) the historical sales amount of fabrics from the Group to the Toray Group for the six months ended 31 March 2019 and the two years ending 31 March 2021; and (ii) the projected steady and moderate growth rate on the sale of fabrics from the Group to the Toray Group for the three years ending 31 March 2024, based on the expected growth generated from the increase in the Group’s overall production capacity as a result of the establishment of a production site in Vietnam as disclosed in the Company’s announcement dated 30 December 2019 to meet the overall demand of the Group’s customers for fabrics. In addition, certain buffers have been incorporated to allow for the increase in sales volume and increase in price of products as anticipated by the management of the Company. While the proposed annual caps for the three years ending 31 March 2024 of HK$100 million have been determined with reference to the historical transaction amounts relating to the sale of fabrics from the Group to the Toray Group for the six months ended 31 March 2019 and the two years ending 31 March 2021, the Board has given much weight to the historical transaction amounts of approximately HK$17 million and HK$47 million for 2019 and 2020 respectively since the Group’s overall sales of fabrics for that two periods were closer to the Group’s expectation and were not or less affected by the global pandemic of COVID-19.
Proposed Annual Caps. Set out below are the maximum daily deposit amounts and the interests on deposits under the 2021 Financial Services Agreement during the following periods:
Proposed Annual Caps. The Board intends to set the annual caps for the annual rent payable under the New Microtech Changzhou Lease Agreement as follows, which are determined based on the annual rent payable by Microtech Changzhou under the New Microtech Changzhou Lease Agreement during the relevant years:- Annual caps (in RMB) For the year ending 31 December 2013 For the year ending 31 December 2014 New Microtech Changzhou Lease Agreement RMB414,000 (equivalent to approximately HK$513,360) RMB414,000 (equivalent to approximately HK$513,360) The Additional Jiangsu Yuanyu (Microtech Changzhou) Premises is leased from Xxxxxxx Xxxxxx to Microtech Changzhou on the rental basis of RMB23 (equivalent to approximately HK$28.52) per sq.m. of the construction area of the Additional Jiangsu Yuanyu (Microtech Changzhou) Premises. The rental rate under the New Microtech Changzhou Lease Agreement has been determined with reference to prevailing market rental rates obtained by market research on rental valuation of similar properties in the vicinity carried out by Microtech Changzhou. The Additional Jiangsu Yuanyu (Microtech Changzhou) Premises is leased to Microtech Changzhou for projects which involve the manufacture of small volume products (presently categorized as annual sales amount of under RMB5 million). The Additional Jiangsu Yuanyu (Microtech Changzhou) Premises is in close proximity to the other facilities of Microtech Changzhou, which are beneficial to the overall business and operation of Microtech Changzhou. In addition, the rental rate offered by Xxxxxxx Xxxxxx is lower than the prevailing market rental rate, which will help to decrease the operation cost of Microtech Changzhou. The Directors (including the independent non-executive Directors) are of the view that the New Microtech Changzhou Lease Agreement was entered into in the ordinary and usual course of business of Microtech Changzhou, on normal commercial terms and that the terms thereof (including the proposed annual caps) are fair and reasonable and in the interests of the Company and Shareholders as a whole after taking into account the above factors.
Proposed Annual Caps. The Directors anticipate that the aggregate annual fee payable by the JV Company to Xxxx Xxx under the Sole Distributorship Agreement shall not exceed HK$25 million, HK$35 million) and HK$40 million for the years ending 31 December 2016, 31 December 2017 and 31 December 2018, respectively. These annual caps have been estimated by the Directors (i) by reference to the Group’s estimated demand for supply of Products for each of the years ending 31 December 2016, 31 December 2017 and 31 December 2018, respectively; (ii) by reference to expected expansion on variety of Products; and (iii) on the assumption that the sourcing costs for the Products will increase at an annual inflation rate of 4%. The Group is principally engaged in the business of one-stop value chain services, property investment, trading of agricultural and grocery food products. Reference is made to the announcements of the Company on 28 October 2015 and 30 November 2015. The Company has completed the acquisition of 70% of the entire issued share capital of YIHE Enterprise Holding Limited and has commenced its grocery food business. The Directors are of the view that entering into the JV Agreement, Trademark Licence Agreement and Sole Distributorship Agreement could increase revenue to the grocery food business of the Group. The Directors are also of the view that the provision of the Products could create synergy effect and opportunities with the existing business of the Group and to further expand and develop its scope of business. The Directors (including the independent non-executive Directors) are of the view that the transactions contemplated under the JV Agreement, Trademark Licence Agreement and the Sole Distributorship Agreement have been entered on normal commercial terms, and that the terms of JV Agreement, Trademark Licence Agreement, the Sole Distributorship and the annual caps are fair and reasonable and in the interests of the Company and the Shareholders as a whole. None of the Directors have any material interest in the transactions contemplated under the JV Agreement, the Trademark Licence Agreement and the Sole Distributorship Agreement. Set out below are the shareholdings of the JV Company immediately after the formation of the JV Company, the Trademark Licence Agreement and the Sole Distributorship Agreement: The Company 100% Xx. Xxxx Xx. Xxx Xxxxxxx Wealth 51% spouse Sole Distributorship Agreement Trademark Licence Agreement Xxxx Xxx As at the date of this announcement, ...
Proposed Annual Caps. The Directors propose that the total annual purchase amount by Shengmu High-tech from Fuyuan International Group under the Fuyuan International Materials Supply Framework Agreement shall not exceed RMB30 million, RMB30 million and RMB30 million for the three years ending 31 December 2020, 2021 and 2022, respectively. In determining such annual caps, the Directors have considered the following factors:
Proposed Annual Caps. The Directors propose that the total annual sale amount by Shengmu High-tech to Yiyingmei Dairy under the Raw Fresh Milk Supply Framework Agreement shall not exceed RMB17 million, RMB84 million and RMB146 million for the three years ending 31 December 2022, 2023 and 2024, respectively. In determining such annual caps, the Directors have considered the following factors:
Proposed Annual Caps. The Proposed Annual Caps for the Group for the respective periods below are as follows: 16 Nov 2020 to 1 Jan 2021 to 1 Jan 2022 to 1 Jan 2023 to Proposed Annual Caps 31 Dec 2020 31 Dec 2021 31 Dec 2022 15 Nov 2023 (HK$ million) (HK$ million) (HK$ million) (HK$ million) Referral fees to the Midland Group 15.0 110.0 110.0 95.0 Referral fees from the Midland Group 10.0 50.0 50.0 40.0 The Proposed Annual Caps for the Group in relation to the transactions contemplated under the Cross Referral Services Framework Agreement (2021) were determined by the Group with reference to factors including:
Proposed Annual Caps. The proposed annual caps for the transactions contemplated under 2021 Framework Agreement II for the three months ending 31 December 2021 and the two years ending 31 December 2023 are as follows: The proposed annual caps for the transactions contemplated under 2021 Framework Agreement II are determined with reference to:
