Shanghai Dazhong secures new LPG delivery contracts

Shanghai Dazhong Public Utilities (Group) Co., Ltd. announced two continuing connected transactions on December 19, 2025. The first is the Cylinder LPG Uniform Delivery and Safety Service Contract, where Shanghai Gas Chongming entrusts Dazhong Logistics Delivery, a subsidiary, to provide transportation, installation, and safety inspection for its cylinder LPG in Chongming District, Shanghai. The expected annual total transaction amount under this contract for the year ending December 31, 2026, shall not exceed RMB30 million.

The second contract is the LPG Cylinder Users Entrusted Delivery Service Contract, under which Shanghai Oriental Energy, a wholly-owned subsidiary of Shanghai Gas, entrusts Dazhong Logistics Delivery to provide similar services for its LPG cylinder users in Shanghai. The total annual transaction amount for this contract is capped at RMB500,000 for December 26, 2025 to December 31, 2025, and RMB40 million for both the year ending December 31, 2026, and the period from January 1, 2027 to December 25, 2027.

These transactions are classified as continuing connected transactions under Chapter 14A of the Listing Rules. As the highest applicable percentage ratio for the annual caps is between 0.1% and 5%, the contracts are subject to reporting, annual review, and announcement requirements, but are exempt from circular and independent shareholder approval. The directors believe the terms are fair, reasonable, and in the interests of the company and its shareholders.