China Overseas Property renews car parking agreements, eyes continued revenue

China Overseas Property Holdings Limited has renewed its continuing connected transactions with COLI Group and COGO Group for acquiring rights-of-use of car parking spaces. The New COLI Framework Agreement and the New COGO Framework Agreement, both entered into on November 28, 2025, will each run for three years, from January 1, 2026, to December 31, 2028. These transactions enable the group to deploy excess cash to acquire profitable car parking spaces for its trading business.

The COLI annual caps for these transactions are set at RMB200 million for each of the years ending December 31, 2026, 2027, and 2028. The COGO annual caps are set at RMB100 million for each corresponding year. Historical transaction amounts under the existing COLI framework agreement ranged from RMB51.0 million to RMB375.5 million annually, while for COGO, amounts ranged from RMB50.2 million to RMB90.1 million, excluding a one-month period in 2019 where no transactions occurred.

These transactions constitute continuing connected transactions under Chapter 14A of the Listing Rules. The board considers the terms of the new framework agreements, the transactions, and the annual caps to be fair and reasonable and in the interests of the company and its shareholders as a whole.