The PRC Group signed on 28 March 2024 a number of new framework agreements, including product and service intersupply, fixed asset and housing leasing, and financial services, effective from 1 January 2025 to 31 December 2027. Under the New Product and Service Reciprocity Framework Agreement, the SMB Group expects a maximum amount of RMB7,000 million per year to be paid to the PRC, while the maximum amount paid to the SMB Group by the PRC will be RMB4,000 million per year. Under the new Fixed Asset and Housing Leasing Framework Agreement, the annual cap for leasing assets and houses in China is RMB 500 million per year, and the annual rental limit for the SMB Group is RMB200 million per year. Under the new Financial Services Framework Agreement, the maximum...Show More

The PRC Group signed on 28 March 2024 a number of new framework agreements, including product and service intersupply, fixed asset and housing leasing, and financial services, effective from 1 January 2025 to 31 December 2027. Under the New Product and Service Reciprocity Framework Agreement, the SMB Group expects a maximum amount of RMB7,000 million per year to be paid to the PRC, while the maximum amount paid to the SMB Group by the PRC will be RMB4,000 million per year. Under the new Fixed Asset and Housing Leasing Framework Agreement, the annual cap for leasing assets and houses in China is RMB 500 million per year, and the annual rental limit for the SMB Group is RMB200 million per year. Under the new Financial Services Framework Agreement, the maximum daily deposit balance limit for deposit services provided by financial companies to the mid-market group is RMB20,000 million to $22,000 million, the maximum daily credit balance for credit services is RMB10,000 million, and the maximum daily credit balance for other financial services is RMB10,000 million, and the annual maximum credit balance for other financial services is RMB10,000 million. $22 million. The Central Car Group is the controlling shareholder of China Central Cars and holds 51.45% of the shares, making the transaction a continuing connected transaction. The new framework agreement aims to regulate trading for the next three years and set individual caps to meet the requirements of the Hong Kong Listing Rules.