Nongfu Spring renews key transactions with controlling shareholder

Nongfu Spring Co., Ltd. announced the renewal of its continuing connected transactions, extending the Purchasing Framework Agreement and the Basic R&D and Test Service Framework Agreement for a three-year term from January 1, 2026, to December 31, 2028. These agreements facilitate the purchase of bottle caps, various products, and raw materials from Yangshengtang Group, and secure basic R&D and test services.

The New Purchasing Framework Agreement projects annual caps of RMB434.50 million for 2026, RMB528.50 million for 2027, and RMB629.50 million for 2028. Historically, transactions under the existing Purchasing Framework Agreement amounted to RMB262.1 million in 2023, RMB273.6 million in 2024, and RMB322.8 million for the ten months ended October 31, 2025. The New Basic R&D and Test Service Framework Agreement sets consistent annual caps of RMB100.00 million for each year from 2026 to 2028.

These transactions are deemed continuing connected transactions under Chapter 14A of the Listing Rules, as Mr. Zhong Shanshan, Nongfu Spring's controlling shareholder, also wholly owns Yangshengtang Group. The renewals are subject to announcement, reporting, and annual review requirements but are exempt from circular and independent shareholders' approval, given that the applicable percentage ratios are more than 0.1% but less than 5% annually.