Towngas Smart Energy (HKG:1083) agreed to renew its existing purchase agreement with its controlling shareholder, The Hong Kong and China Gas, for another three years, a Friday Hong Kong bourse filing said.
The existing agreement has a three-year term and will expire by the end of 2024. The new agreement starts on Jan. 1, 2025 and expires on Dec. 31, 2027.
Under the new master pipeline materials purchase agreement, the group will continue to purchase various pipeline construction materials, gas meters and measuring tools from the controlling shareholder or its group.
The annual caps set for the purchase agreement are 100 million yuan for 2025, 110 million yuan for 2026, and 120 million yuan for 2027.
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