Sino-Ocean subsidiary secures senior care deal with China Life branch

Sino-Ocean Group Holding Limited's subsidiary, Senior Living L'Amore, has entered into a service procurement agreement with China Life Insurance Beijing Branch, a connected person due to China Life Insurance being a substantial shareholder. Under the agreement, Senior Living L'Amore will provide senior care service benefits, including priority residency rights, discount benefits, and value-added services, to designated customers of China Life Insurance Beijing Branch. The total contract sum for this agreement is expected to be no more than RMB5.5 million.

The fees for the "Letter of Rights" vary, with RMB3,750 per letter for the Beijing Version (requiring RMB1.5 million or above in insurance premium) and RMB5,000 per letter for the National Version (requiring RMB2 million or above in insurance premium). This collaboration is expected to empower China Life Insurance's primary insurance sales and enhance Senior Living L'Amore's brand presence and client sources.

The transaction, effective from October 24, 2025, to December 31, 2025, is subject to reporting and announcement requirements under Chapter 14A of the Listing Rules. It is exempt from circular and independent shareholders' approval requirements. The directors, excluding those nominated by China Life Insurance who abstained from voting, consider the terms to be on normal commercial terms, fair, and reasonable.