On November 18, 2024, china res beer signed a new strategic cooperation agreement with banks and other financing business to replace the 2021 strategic cooperation agreement that will expire on December 31, 2024. The new agreement will take effect on January 1, 2025, and will last for three years, ending on December 31, 2027. According to the agreement, china res beer will be able to use the deposits and other financing business and products provided by banks and other financing business. As china resources holds approximately 49.77% of the shares of banks and 51% of the shares of other financing business directly and indirectly, both banks and other financing business are considered related parties of china res beer. The trade under the new strategic cooperation agreement is expected to have an...Show More

On November 18, 2024, china res beer signed a new strategic cooperation agreement with banks and other financing business to replace the 2021 strategic cooperation agreement that will expire on December 31, 2024. The new agreement will take effect on January 1, 2025, and will last for three years, ending on December 31, 2027. According to the agreement, china res beer will be able to use the deposits and other financing business and products provided by banks and other financing business. As china resources holds approximately 49.77% of the shares of banks and 51% of the shares of other financing business directly and indirectly, both banks and other financing business are considered related parties of china res beer. The trade under the new strategic cooperation agreement is expected to have an annual cap of over 0.1% but less than 5%, thus only requiring compliance with the reporting, announcement, and annual audit provisions of Chapter 14A of the listing rules, and being exempt from independent shareholder approval. china res beer has taken a series of internal monitoring and risk management measures to ensure the fairness of the trade and its compliance with shareholder interests.