On October 26th, Gaoxin Retail announced that the company’s indirect non-wholly-owned subsidiary, RT-Mart China and Hangzhou Alibaba, entered into the Hangzhou Alibaba Supply Agreement for a period of 16 months.
According to the terms of the supply agreement, RT-Mart China agrees to purchase and Hangzhou Alibaba agrees to supply related products on a non-exclusive basis and sells at the operated RT-Mart store.
The proposed annual cap for the Hangzhou Alibaba Supply Agreement and the transactions contemplated thereunder are as follows: from September 1, 2018 to December 31, 2018, RMB 100 million; from January 1, 2019 to 201,912 It was RMB 2 billion on the 31st of the month.
According to Gaoxin Retail, the proposed cooperation with the Hangzhou Alibaba Supply Agreement will enable the Group to further diversify and optimize the product categories offered by the Group’s RT-Mart brand retail stores.