CEC-HK and CPC, both wholly-owned subsidiaries of the CITIC Telecom International Holdings (HKG:1883), signed a new three-year service agreement with CEC, a non-wholly owned subsidiary, and CITIC Group associate, according to a filing on Monday.
The 2024 service agreement, effective from Jan. 1, 2025, to Dec. 31, 2027, engages CEC to provide technical and support services in the PRC to CEC-HK and CPC customers, facilitating value-added telecom services.
If services are required outside the PRC, CEC will exclusively refer customers to CEC-HK or CPC, collaborating on service solutions compliant with applicable laws.
Service fees are based on cost plus a prevailing market rate, leveraging CEC's IP-VPN operating license to access the large domestic VPN services market in China.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.