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Weiqiao Textile (02698): Entrusted Shandong Weiqiao Venture Group To Provide Grey Cloth Processing Services
Weiqiao Textile (02698) announced that on July 2, 2020, the company and the parent company entered into a processing service agreement for a period from July 2, 2020 to December 31, 2022 (including the first two days and the last two days). Accordingly, the parent company will provide gray cloth processing services to the company.
The annual upper limit of the entrusted processing service agreement for the period from July 2, 2020 to December 31, 2020, 2021 and 2022 is 12 million yuan, 24 million yuan and 24 million yuan respectively. The parent company is Shandong Weiqiao Venture Group Co., Ltd., which is the controlling shareholder of the company.
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