Ton definition
Examples of Ton in a sentence
The demand for the Company’s products by Ton Yi has increased substantially due to the continued development and commitment of relevant products by Ton Yi, while the Company has sufficient production capacity and raw materials for production.
The Company entered into the Ton Yi Product Purchase Framework Agreement on 11 December 2017 with Xxx Xx, whereby Ton Yi agreed to purchase and the Company agreed to supply the Company’s products (including but not limited to different kinds of concentrated juice) and provide the warehousing and other services relating to purchase to subsidiaries of Ton Yi, to regulate such product purchase between the Group and Ton Yi for the period commencing on 1 January 2018 and expiring on 31 December 2018.
Therefore, the transactions under the President Product Purchase Framework Agreement between the Group and President and the transactions under the Ton Yi Product Purchase Framework Agreement between the Group and Ton Yi constitute continuing connected transactions of the Company.
The Directors are of the opinion that the entering into of Ton Yi Product Purchase Framework Agreement is beneficial in raising the proportion of domestic sales of the Company as well as product diversification, which will in turn increase the revenue and profits of the Company.
Accordingly, the Directors believe that the above methods and procedures can ensure that the relevant continuing connected transactions will be conducted in accordance with the terms (including the pricing policy) provided under the Ton Yi Product Purchase Framework Agreement and such transactions will be conducted on normal commercial terms and in the interest of the Company and Shareholders as a whole.