China Res Land Limited ("China Res Land") issued a supplementary announcement on October 10, 2024, detailing the ongoing related party transactions with China Resources Beverage Group, namely the Engineering Design and Management Services Framework Agreement. The agreement stipulates that the service fees to be paid by China Resources Beverage Group to China Res Land will be fairly determined based on market rates, with terms guaranteed not to be inferior to similar services provided to any independent third-party customer. China Res Land further emphasized that in order to ensure the fairness and reasonableness of the transaction terms, multiple measures have been taken, including regularly collecting market information, reviewing cost quotes with independent third-party customers, and periodically reviewing the service fees charged...Show More

China Res Land Limited ("China Res Land") issued a supplementary announcement on October 10, 2024, detailing the ongoing related party transactions with China Resources Beverage Group, namely the Engineering Design and Management Services Framework Agreement. The agreement stipulates that the service fees to be paid by China Resources Beverage Group to China Res Land will be fairly determined based on market rates, with terms guaranteed not to be inferior to similar services provided to any independent third-party customer. China Res Land further emphasized that in order to ensure the fairness and reasonableness of the transaction terms, multiple measures have been taken, including regularly collecting market information, reviewing cost quotes with independent third-party customers, and periodically reviewing the service fees charged to China Resources Beverage Group. Additionally, the announcement mentioned that the project construction funds payable by China Resources Beverage Group will be deposited into a specific account, held by Shenzhen Runzhi Group as an agent, without beneficial ownership rights. The service fees collected from China Resources Beverage Group in 2022 and 2023 were within the minimum waiver range and therefore fully exempted.