Midea Real Estate adjusts tech service caps, proposes governance changes

Midea Real Estate Holding Limited announced an extraordinary general meeting (EGM) on October 27, 2025, to address a continuing connected transaction and proposed governance changes. The company seeks shareholder approval for a supplemental agreement to the 2024 Real Estate Technology Service Framework Agreement with Midea Construction, revising annual caps for real estate technology services for 2025 and 2026. The revised cap for FY2025 will increase from RMB240.0 million to RMB330.0 million, while the FY2026 cap will decrease from RMB215.0 million to RMB206.0 million. This adjustment reflects an acceleration of projects from 2026 into 2025.

The EGM will also consider the adoption of new memorandum and articles of association, incorporating proposed amendments to enhance board structure flexibility and streamline auditor appointment procedures for casual vacancies. These changes will allow the board to appoint more than one chairman and to fill casual auditor vacancies until the next annual general meeting.

The company’s controlling shareholders, holding 81.13% of issued shares, will abstain from voting on resolutions related to the supplemental agreement and revised annual caps due to their material interest.