Seazen Group announces property service deals with connected entity

Seazen Group Limited announced a Lease Service Framework Agreement with Mitaki Culture, effective from October 30, 2025, to December 31, 2027. Under the agreement, Seazen Holdings Group will provide leasing and property management services. Mitaki Culture is indirectly 50% owned by Mr. Wang, the controlling shareholder of Seazen Group, making these continuing connected transactions subject to Chapter 14A of the Listing Rules.

The annual caps for service fees are RMB3.0m for 2025, RMB40.0m for 2026, and RMB40.0m for 2027. These caps are allocated across leasing services (RMB2.0m in 2025, RMB25.0m in 2026 and 2027) and property management services (RMB1.0m in 2025, RMB15.0m in 2026 and 2027). The historical transaction amount for the nine months ended September 30, 2025, was approximately RMB130,650.

The transactions, while exceeding 0.1% but less than 5% of the applicable percentage ratios, are subject to reporting, announcement, and annual review requirements but are exempt from independent Shareholders' approval. Directors view the terms as fair and reasonable, expanding the Group’s income stream, and conducted on normal commercial terms in the ordinary course of business.