CHINA SANJIANG FINE CHEMICALS COMPANY LIMITED China Sanjiang Fine Chemicals Company Limited entered into the Pipeline Network Usage Agreement with Mei Fu Port (a wholly-owned subsidiary of Jiahua Energy Chemical Co.), pursuant to which, Sanjiang Chemical has agreed to provide pipeline network usage service to Mei Fu Port for a term from the date of this announcement to 31 December 2023 with a consideration not exceeding RMB 15 Million. Date: 27 July 2023. Pursuant to the Pipeline Network Usage Agreement, the purchase price for the provision of pipeline network usage service shall be charged in accordance with the notice namely (Jiaxing Port Area Public Pipeline Usage Standard Fee Rates) issued by the local authority.
As the purchase prices are determined in accordance with the notice namely Jiaxing Port Area Public Pipeline Usage Standard Fee Rates issued by the local authority, which is applied to all the pipeline users in the region, the Board considers such pricing principles and the transactions under the Pipeline Network Usage Agreement, will be conducted on normal commercial terms and not prejudicial to the interests of the Company and its shareholders as a whole.
