Wantian Holdings restructures GBA catering leases and management services

On December 2, 2025, Shenzhen Wantian Catering, a wholly-owned subsidiary of China Wantian Holdings, entered into a Supplemental Catering Tenancy Agreement with Wangu Basket. This agreement involves the surrender of premises totaling 5,297.57 sq.m. at Wangu Shopping Basket Plaza. The group will derecognize 7,900,000 yuan in right-of-use assets, resulting in the forfeiture of a 610,000 yuan security deposit and a 665,000 yuan penalty. Remaining premises of 6,677.76 sq.m. will continue to be leased until September 30, 2027, with a monthly rental of 417,000 yuan.

Concurrently, a Supplemental Management Service Agreement was signed between Shenzhen Wantian Catering and Wangu Business Management. This adjusts management services to the remaining catering premises, with a monthly management fee of 58,000 yuan and a yearly fire service maintenance fee of 21,000 yuan, both inclusive of tax. The annual caps for management service fees are 472,000 yuan for December 2025, 5,663,000 yuan for 2026, and 4,248,000 yuan for January to September 2027.

The transactions are connected due to common beneficial ownership by Dr. Hooy and Mr. Zhong in both Wangu Basket and Wangu Business Management. Both agreements are subject to reporting and announcement requirements but are exempt from circular and shareholder approval, as the highest applicable percentage ratios are below 5%.