Proposed Annual Caps and Basis for Proposed Annual Caps. The proposed annual caps for the three years ending 31 December 2025 under the Master Sales Agreement (2022) are set out below: Annual caps (in RMB’000) For the year ending 31 December For the year ending 31 December For the year ending 31 December 0000 0000 0000 Master Sales Agreement (2022) 500,000 570,000 670,000 The proposed annual caps are determined based on the historical transaction amounts under the Master Sales Agreement (2019), the estimated investment in the natural gas equipment to cater for the projected growth in natural gas consumption in China, the expected growth in different business segments of the Group, the expected growth of CIMC Group’s business, the projected number of products to be sold to the CIMC Group (both for providing finance leases to the Sales Customers and for CIMC Group’s own manufacturing and business operations) and the forecast in market price of the products (including the forecast increase in the selling price due to inflation).
Proposed Annual Caps and Basis for Proposed Annual Caps. Based on an internal estimate, the Directors propose to set the proposed annual caps for each of the three years ending 31 December 2013, 2014 and 2015 for the transactions under the Master Purchase Agreement as follows: (RMB billion) Proposed annual caps for 2013 2014 2015 Transactions under the Master Purchase Agreement 2.07(Note) 4.69 5.39 Note: The annual cap for the year ending 31 December 2013 stands as the six-month annual cap in view of the Master Purchase Agreement becoming effective from 1 July 2013. These proposed annual caps have been determined based on the actual amounts paid by China Shipping Group for fuel purchase in overseas market in the last three financial years ending 31 December 2012, and the expected growth in fuel purchase amounts resulted from the increase in shipping capacity (as a result of China Shipping Group’s delivery of vessels commissioned for construction as well as historical expansion trends) for the next three financial years ending 31 December 2015. The fuel purchase amounts in overseas market of China Shipping Group for the last three financial years ending 31 December 2012 were RMB1.961 billion (approximately HK$2.42066 billion), RMB2.997 billion (approximately HK$3.69950 billion) and RMB3.19 billion (approximately HK$3.93774 billion), respectively. The shipping capacities of related subsidiaries of China Shipping for each of the three years ending 31 December 2013, 2014 and 2015 is estimated to be approximately 21,480,000 dwt, 24,710,000 dwt and 24,930,000 dwt respectively.
Proposed Annual Caps and Basis for Proposed Annual Caps. Pursuant to the Investment and Wealth Management Cooperation Framework Agreement, the maximum daily investment balance (including expected accrued investment returns) of the Group with Shanghai Securities under the Investment and Wealth Management Cooperation Framework Agreement for each of the three years ending 31 December 2023 are RMB1,000 million, which is determined in accordance with the following factors:
Proposed Annual Caps and Basis for Proposed Annual Caps. The proposed annual caps for the three years ending 31 December 2025 under the Master Processing Services Agreement (2022) are set out below: Annual caps (in RMB’000) For the For the For the year ending year ending year ending 0000 0000 0000 Master Processing Services Agreement (2022) 38,000 41,000 45,000 The proposed annual caps are determined based on the historical transaction amounts under the Master Processing Services Agreement (2019), the expected sales volume growth of the Group’s products that will require processing services during their production process and the expected growth in market prices due to inflation.
