GAC Group continues logistics deals with Toyota, Honda

Guangzhou Automobile Group (HKEX: 2238) has announced the continuation of connected transactions with subsidiaries and associates of Toyota and Honda for transportation and logistic services related to vehicle products and components. The agreements, effective from January 1, 2025, to December 31, 2027, involve companies like GAC Toyota Logistics and GAC Honda Logistics providing services to entities within the GAC Group. The company estimates annual transaction caps of RMB 125.32 million for 2025, RMB 136.78 million for 2026, and RMB 136.98 million for 2027. These caps are determined based on past transaction amounts, service prices, and estimated future demand. The independent non-executive Directors have confirmed that the Agreements are on normal commercial terms and are fair and reasonable and the Transactions are in the interests of the Company and its shareholders as a whole.