C&D Property Management renews crucial lease agreement with controlling shareholder

C&D Property Management Group Co., Ltd. announced the renewal of its lease framework agreement with Xiamen C&D, its controlling shareholder, to lease properties and car parking spaces for operational use. The renewed lease framework agreement, entered into on December 16, 2025, after trading hours, will commence on January 1, 2026, and extend for three years until December 31, 2028.

For each of the three years ending December 31, 2028, the annual rent payable by the group under the renewed agreement will be capped at RMB10 million. The rent will be determined by the gross floor area multiplied by the rent per unit area, benchmarked against similar properties and local market rates, subject to adjustments. This renewal is classified as a continuing connected transaction under Chapter 14A of the Listing Rules.

Historical transaction amounts for rent paid by the group to Xiamen C&D Group were RMB5.20 million for the year ended December 31, 2024, RMB4.60 million for the year ended December 31, 2023, and RMB2.33 million for the six months ended June 30, 2025. The transactions are expected to exceed 0.1% but remain below 5% of the applicable percentage ratios, exempting them from independent shareholders' approval.