>do they though? if it's via a JV/If it's the JV 'winning the contracts' on paper.
Yes, exactly.
Besides, I think they did "disclose" it. The Memorandum of Understanding with iSoftStone from 11th July 2019 (and the follow-up from 16th December 2019) seems to cover everything, and contains plenty of extra weasel words like "Whilst pricing is confidential, the price...will be higher than prices paid by customers." How much higher? Millions?
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