Lianhua Supermarket Renews Service Agreements with Substantial Shareholder

MT Newswires Live

Oct 10, 2024

Lianhua Supermarket (HKG:0980) renewed several agreements with its substantial shareholder, Bailian Group, and its subsidiary, Bailian Finance, according to a Wednesday filing with the Hong Kong Exchange.

The renewed contracts include membership points agency and settlement service, smart card arrangement, and logistics and delivery services framework.

Under the membership points agency and settlement agreement, Bailian Finance will continue to provide the company with deposit, withdrawal, and agency settlement services until 2027.

Under the smart cards arrangement, the company and Bailian Group agreed to accept customer payments using the other party's smart cards from 2025 to 2027.

Under the logistics and delivery services framework agreement, the company will continue providing Bailian Group with logistics, delivery, and management services until December 2027.

The supermarket chain's shares closed over 5% higher on Thursday.

Price (HKD): $0.40, Change: $+0.020, Percent Change: +5.26%

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