Asiainfo Technologies (HKG:1675) entered into a services and products agreement with its substantial shareholder, AsiaInfo Security Technology (SHA:688225), to regulate some of the usual business transactions between the parties as per the listing rules.
The agreement stipulates procurement of certain technological and network security services from AsiaInfo Security Technology for a term of one year starting from Jan. 1, a Tuesday Hong Kong bourse filing said.
The company has been engaging Asiainfo Security's certain professional support staff for its projects and has been utilizing its network security services and products in its usual course of business.
But as the annual caps set for such transactions is expected to cross the de minimis threshold under the listening rules, the parties have formulated the transactions to regulate them.
The annual cap set for the transaction is 15.9 million yuan for the current year.
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