CIFI ES Service Group Limited (the "Group") announces that, as part of its daily business, it will provide agency services to the contact person of its ultimate controlling shareholder and may make payment of a deposit. The amount of deposit payment is subject to the terms of individual agreements, taking into account market practice and economic conditions. As of December 31, 2023, the highest applicable percentage of the deposit paid by the Group is between 0.1% and 5%. Therefore, it shall comply with the reporting and announcement requirements of Chapter 14A of the Listing Rules, but is exempt from independent shareholder approval. The board of directors has set the annual deposit ceiling for the years 2024 to 2026 and believes that the arrangement of deposit payments and...Show More

CIFI ES Service Group Limited (the "Group") announces that, as part of its daily business, it will provide agency services to the contact person of its ultimate controlling shareholder and may make payment of a deposit. The amount of deposit payment is subject to the terms of individual agreements, taking into account market practice and economic conditions. As of December 31, 2023, the highest applicable percentage of the deposit paid by the Group is between 0.1% and 5%. Therefore, it shall comply with the reporting and announcement requirements of Chapter 14A of the Listing Rules, but is exempt from independent shareholder approval. The board of directors has set the annual deposit ceiling for the years 2024 to 2026 and believes that the arrangement of deposit payments and annual limits is in the overall interest of the Group and shareholders. The Group has adopted internal control measures to ensure that the transaction terms are fair and reasonable, and not detrimental to the Group and shareholders. In addition, independent non-executive directors and auditors will continue to review related transactions. The Group regrets its failure to comply with the Listing Rules in a timely manner in the past and has taken remedial measures, including providing internal training and strengthening internal controls.