HK Stock Market Move | MEDLIVE(02192) rose more than 6% and renewed its M3 annual service fee limit to 20 million yuan.

MEDLIVE (02192) rose by more than 6%, as of the time of writing, it increased by 6.26% to HK$9.67, with a trading volume of HK$7.032 million. In terms of news, MEDLIVE announced that on November 11, 2024, the company signed a renewal agreement with M3 for the year 2024, extending the validity period of the existing precision marketing and enterprise solution service framework agreement to December 31, 2027. Under the agreement, the company will continue to provide digital market research services and digital content creation and delivery services to M3 and its affiliates. Historical transaction amounts show that the annual service fees for 2021, 2022, and 2023 were RMB 9.84 million, RMB 8.95 million, and RMB 8.97 million respectively, while the six-month service fees up to June 30, 2024 amounted to RMB 5.14 million. In terms of the new annual limit, the annual limit for the period from 2025 to 2027 is suggested to be RMB 20 million, an increase from the previous annual limit of RMB 13.6 million. This change reflects the company's expectations for future market demands and its potential for expansion in the digital services sector. The announcement also notes that M3 is the controlling shareholder of the company, so this transaction is considered an ongoing related party transaction, which only needs to comply with the disclosure requirements of the listing rules and does not require approval from independent shareholders.