Poly Property Services to renew deposit agreement, appoint new auditors

Poly Property Services Co. announced a new 2026-2028 Deposit Service Framework Agreement with Poly Finance, effective January 1, 2026, to renew existing deposit services. Poly Finance, a subsidiary of China Poly Group and a connected person, will provide deposit services with interest rates higher than average rates from independent major PRC state-owned commercial banks. The maximum daily balance of deposits is capped at RMB2,030.0m for each year ending December 31, 2026, 2027, and 2028, reflecting historical transaction amounts and the group's cash balance position.

This agreement constitutes a continuing connected transaction requiring independent shareholders' approval at the Third Extraordinary General Meeting (EGM) of 2025. The board recommends voting in favor, noting that the terms are fair and reasonable.

Additionally, Baker Tilly China and Baker Tilly HK resigned as domestic and overseas auditors, respectively, effective November 13, 2025. BDO China SHU LUN PAN Certified Public Accountants LLP and BDO Limited have been appointed to fill these vacancies for the year 2025, subject to EGM approval, until the next annual general meeting.