China Res Land Limited announced that its wholly-owned subsidiary, Shenzhen Runzhi, signed an engineering and construction management service framework agreement with China Resources Beverage on September 20, 2024. According to the agreement, Shenzhen Runzhi will provide a series of services to China Resources Beverage, including management, design, and engineering construction services, valid until December 31, 2026. As the controlling shareholder of China Res Land Limited, China Resources Group holds approximately 59.55% of the shares and is also the controlling shareholder of China Resources Beverage, holding 60% of the shares. Therefore, China Resources Beverage is considered a related party of China Res Land Limited. The transaction under this framework agreement is considered an ongoing related party transaction due to the highest applicable percentage exceeding 0.1% but being...Show More

China Res Land Limited announced that its wholly-owned subsidiary, Shenzhen Runzhi, signed an engineering and construction management service framework agreement with China Resources Beverage on September 20, 2024. According to the agreement, Shenzhen Runzhi will provide a series of services to China Resources Beverage, including management, design, and engineering construction services, valid until December 31, 2026. As the controlling shareholder of China Res Land Limited, China Resources Group holds approximately 59.55% of the shares and is also the controlling shareholder of China Resources Beverage, holding 60% of the shares. Therefore, China Resources Beverage is considered a related party of China Res Land Limited. The transaction under this framework agreement is considered an ongoing related party transaction due to the highest applicable percentage exceeding 0.1% but being less than 5%. It is required to comply with the reporting, announcement, and annual review requirements under Chapter 14A of the Listing Rules, but is exempt from independent shareholder approval. The board of directors believes that the terms of the agreement are fair and reasonable and are in the overall interest of the company and shareholders.