On March 24, BIWIN revealed that it had entered into a standard operational procurement agreement with a memory producer. Under this agreement, BIWIN is set to buy a specific type of memory wafer over the forthcoming 24-month period, with the entire contract valued at US$1.5 billion (around RMB 10.3 billion). The substantial contract sum accounts for over 50% of the company's audited operating revenue and total assets in the latest fiscal year, and it exceeds RMB 100 million, thus reaching the disclosure requirement. As stipulated in the agreement, the contract is binding on both parties involved, as well as their respective subsidiaries.
