Willas-Array Electronics (Holdings) Limited announced Willas-Array Electronics (Hong Kong) Limited, Array Electronics (China) Limited, Willas-Array Electronics (Shenzhen) Limited, Willas-Array Electronics (Shanghai) Limited and Willas-Array Electronics (Taiwan) Inc. had on August 26, 2026, entered into a mutual customer referral framework agreement with Shanghai YCT Electronics Group Co., Ltd, Texin (Hongkong) Electronics Co., Limited and Shanghai Yachuangli Technology Co. Ltd. Subject to the terms and conditions of the Referral Agreement, each of Party A or Party B (as the case may be) shall mutually refer potential customers to the other Party, facilitate business introductions and promote commercial opportunities and negotiations with such customers. The Parties shall be responsible for issuing invoices corresponding to their own businesses.
In connection with the settlement of revenue sharing, the Party entitled to receive payments shall issue compliant invoices, and the other Party shall provide supporting documentation as required by the other Party for financial, audit and compliance purposes. The Parties shall share the realisable gross sale margin, determined in accordance with the formula and rates set out in the Referral Agreement, on a 40:60 ratio, where the Party entitled to the revenue share (for the avoidance of doubt, this Party refers to the introducing entity) shall receive 40% of the realisable gross sale margin, and the Party responsible for customer engagement and invoicing shall receive 60% of the realisable gross sale margin. Any adjustment to the revenue sharing ratio for specific cases will be subject to mutual agreement between the Parties.
Settlement of the revenue sharing shall be conducted on a quarterly basis, after full receipt of the corresponding customer payment. The Referral Agreement is effective for an initial term from August 26, 2026 to December 31, 2026 (both dates inclusive) and may be renewed by mutual agreement at least 30 days prior to its expiry. The value of the Referral Agreement, comprising revenue sharing amounts to be received from and paid to all of Party B, is estimated to be an aggregate of approximately HKD 1 million (or approximately SGD 1.6409583 million), based on the evaluation of the proposed collaborating customers and product lines for the effective term of the Referral Agreement.
