CWT INT'L plans to enter into a cooperation framework agreement with HNA Technology to collaborate in the field of commodity trading
CWT INT'L plans to sign a cooperation framework agreement with HNA Technology, and both parties will cooperate in the field of commodity trading. HNA Technology will use its own funds to purchase metal products, including copper from Africa, South America, Australia, and Canada, for sale to regions such as China. The transaction price will be based on the fluctuating copper price of the London Metal Exchange, with certain premiums or discounts added or subtracted. This cooperation is expected to enhance CWT's business opportunities in commodity trading and promote revenue and profit growth
According to the Zhitong Finance APP, CWT INT'L (00521) announced that the company plans to enter into a cooperation framework agreement with HNA Technology Co., Ltd. (HNA Technology).
Both parties (including their subsidiaries) plan to cooperate in the field of commodity trading, with HNA Technology using its own funds to purchase metal products, including but not limited to copper produced in Africa, South America, Australia, and Canada, for sale in regions such as China. The transaction prices between the parties will follow the principle of fair pricing, with HNA Technology's procurement prices based on the floating copper prices quoted by the London Metal Exchange (LME), plus or minus a certain premium or discount, with the specific level of premium or discount determined by market conditions and other costs at the time of each order. The group will provide HNA Technology with logistics, transportation, insurance, and other services for the goods.
The proposed cooperation could enhance the group's business opportunities in commodity trading, thereby contributing to the increase in the group's revenue and profits
