C&D Property renews key business agreements with shareholders

C&D Property Management Group Co., Ltd (C&D Property) has renewed its Business Framework Agreement for a three-year term, effective from January 1, 2026, to December 31, 2028. The agreement, with C&D Real Estate and C&D International, solidifies C&D Property's role in providing property management, community value-added, and value-added services to non-property owners for both the Remaining C&D Real Estate Group and the Remaining C&D International Group.

The renewal is classified as a continuing connected transaction. For C&D Property, proposed annual caps for service fees payable by the Remaining C&D Real Estate Group are RMB180m for 2026, RMB200m for 2027, and RMB220m for 2028. Service fees from the Remaining C&D International Group are projected at RMB1,640m for 2026, RMB1,890m for 2027, and RMB2,170m for 2028. Total proposed annual caps are RMB1,820m, RMB2,090m, and RMB2,390m for the years ending December 31, 2026, 2027, and 2028, respectively.

As applicable percentage ratios exceed 5% annually, the agreement is subject to reporting, annual review, announcement, and independent shareholders' approval. An extraordinary general meeting will be held by C&D Property to seek this approval, with C&D International and Well Land abstaining from voting due to their controlling interests.