Shibei Hi-Tech: Wholly-owned subsidiary signs entrusted service agreement
Shibei Hi-Tech announced that its wholly-owned subsidiary Shanghai Junengwan Enterprise Service Co., Ltd. has signed a commissioned service agreement with its controlling shareholder Shanghai Shibei Hi-Tech Co., Ltd. Shibei Group has entrusted Junengwan to be responsible for the operation of the SAP Innovation Empowerment Center and will pay operational special funds of RMB 2.5818 million. This transaction constitutes a related party transaction, has been approved by the board of directors, and does not need to be submitted for shareholder meeting approval
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