CORNERSTONE TEC (08391) has sold electric vehicle chargers to its joint venture company for approximately 9.8 million Hong Kong dollars.

CORNERSTONE TEC (08391) announced that on December 27, 2024, the company intends to sell electric vehicle chargers to Spark EV Company Limited for a total price of approximately HK$9.8 million. As the buyer is an affiliate of the company and there is a strong demand for electric vehicle chargers, the directors are optimistic about the future prospects of the buyer and the electric vehicle charging market in Thailand. The directors believe that entering into the sales agreement will ensure the provision of high-quality electric vehicle chargers for the buyer, expand the company's business footprint in Thailand, enhance the company's capabilities in regions outside of Hong Kong, and maintain a good cooperative relationship with the buyer in the future.