China Merchants Property board approves related-party transactions, governance updates

China Merchants Property Operation & Service convened its eleventh board of directors’ second meeting on December 24, 2025, approving several key resolutions. The board greenlit the revision and establishment of several corporate governance policies, including rules for the audit, strategy and sustainable development, and nomination and remuneration committees, as well as new information disclosure and executive departure management systems. All governance-related resolutions were passed with unanimous consent from the attending directors.

A significant agenda item was the approval of the estimated 2026 daily related-party transactions with China Merchants Group and its subsidiaries. The total contract value is projected to be CNY 558,420 million, with an estimated annual occurrence of CNY 495,807 million. This includes CNY 533,200 million in expected revenue from services, asset leasing, and product sales, and CNY 25,220 million in estimated expenditures for asset leasing, services, and product purchases. The related-party transaction proposal passed with five votes in favor, zero against, and zero abstentions, with associated directors recusing themselves.

The related-party transactions are priced according to market rates and are deemed to be in the company's normal course of business, contributing to operational synergies and scale. This resolution, along with manager-level performance assessments and appointment agreements, will be submitted to the shareholders' meeting for final approval, where related parties will also abstain from voting.