ZhongAn Online raises property management fee caps amid expanded services

ZhongAn Online P&C Insurance Co., Ltd. has revised its annual caps for property management service fees payable under the Property Framework Agreement with RGMD Group. The existing annual caps of RMB17.0 million for the years ending December 31, 2026, and December 31, 2027, have been increased to RMB30.0 million for each of these years. This revision, effective December 24, 2025, reflects an expected exceedance of the previous caps.

The upward revision is attributed to several factors, including market fluctuations, increased service costs, and an expanded scope of services provided by RGMD Group. The unit price range for monthly service fees for office properties has risen from RMB35-RMB80 per square meter to RMB45-RMB80 per square meter. Additionally, RGMD Group's services now include a wider range of professional value-added services beyond basic property management, such as garage management and specialized maintenance.

The total property management service fees paid to RGMD Group for the eleven months ended November 30, 2025, were approximately RMB15.4 million, representing about 91% of the annual cap for 2025. RGMD Group, an associate of Mr. Yaping Ou (a non-executive director of the company), is considered a connected person, making these transactions continuing connected transactions subject to reporting, announcement, and annual review requirements under Chapter 14A of the Listing Rules.