YAN PALACE (01497.HK): Enters product sales and purchase framework agreement with Shenzhen Yan Palace, 2028 annual cap at RMB 55 million
- Actual transaction amounts under the framework agreement were RMB 1.2 million for the year ended 31 December 2025 and RMB 1.6 million for the six months ended 30 June 2026.
- Bird's nest products are priced by reference to a discount rate on the standard retail price, consistent with the terms offered to all comparable independent distributors, while bird's nest peptide products are priced based on cost plus a mark-up rate determined within an industry average margin range.
NewTimeSpace News: On 14 September 2026, XIAMEN YAN PALACE BIRD'S NEST INDUSTRY CO., LTD. (stock code: 01497) announced that it has entered into a product sales and purchase framework agreement with Shenzhen Yan Palace Bird's Nest Peptide Bioengineering Development Co., Ltd. (Shenzhen Yan Palace) for the sale of bird's nest-related products, for the period from 14 September 2026 to 31 December 2028. The annual caps for the years ending 31 December 2026, 2027 and 2028 are RMB 6.0 million, RMB 25.0 million and RMB 55.0 million, respectively.
On the same date, the Company, Aidehui (Shenzhen) Investment Co., Ltd. (Aidehui Investment) and Mr. Huang Junhao entered into a capital increase agreement to make additional contributions of RMB 2.5 million, RMB 0.4 million and RMB 2.1 million, respectively, to the registered capital of Shenzhen Yan Palace. Upon completion, Shenzhen Yan Palace will be held as to 70%, 10% and 20% by the Company, Aidehui Investment and Mr. Huang Junhao, respectively, against 80%, 11% and 9% before the capital increase. Mr. Huang Junhao is a family member of Mr. Huang Jian, a controlling shareholder of the Company, and is therefore a connected person of the Company. Upon completion of the capital increase, Shenzhen Yan Palace will become a connected subsidiary of the Company, and the transactions contemplated under the framework agreement will constitute continuing connected transactions under Chapter 14A of the Listing Rules, subject to the reporting, annual review and announcement requirements but exempt from independent shareholders' approval.
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