Beijing Media reclassifies metro concession rights deal as major transaction

Beijing Media Corporation Limited announced a reclassification of its 2026 exclusive concession rights agreements for Beijing Metro Lines 4, Daxing, and 17. Previously a discloseable transaction, the company’s board reassessed applicable percentage ratios and determined the transaction now qualifies as a major transaction under Chapter 14 of the Listing Rules.

This reclassification means the agreements, originally announced on December 11, 2025, now require reporting, an announcement, and shareholders' approval. The change stems from one of the applicable percentage ratios exceeding 25% but remaining below 100%.

The agreements involve Beijing MTR and its subsidiary Beijing MTR 17. A circular with details of the agreements and a notice for an Extraordinary General Meeting (EGM) has been published on the HKEXnews website. All other aspects of the initial announcement remain unchanged.