On November 21, 2024, Yuexiu Real Estate and Guangzhou Yuexiu and Yuexiu Services signed the Property Management and Value Added Services Framework Agreement 2025 and Procurement Framework Agreement. These agreements will enter into force on 1 January 2025 and will last until 31 December 2027. The Property Management and Value Added Services Framework Agreement integrates the relevant 2022 agreements to allow Yuexiu Services Group to provide property management, value-added services and market positioning consultancy services to Guangzhou Yuexiu and its contacts. The Procurement Framework Agreement expands the range of products and services that Yuexiu Services Group can source from Guangzhou Yuexiu and our company.According to the announcement, annual caps for these agreements have been set and will be adjusted based on historical transaction amounts, existing contracts...Show More

On November 21, 2024, Yuexiu Real Estate and Guangzhou Yuexiu and Yuexiu Services signed the Property Management and Value Added Services Framework Agreement 2025 and Procurement Framework Agreement. These agreements will enter into force on 1 January 2025 and will last until 31 December 2027. The Property Management and Value Added Services Framework Agreement integrates the relevant 2022 agreements to allow Yuexiu Services Group to provide property management, value-added services and market positioning consultancy services to Guangzhou Yuexiu and its contacts. The Procurement Framework Agreement expands the range of products and services that Yuexiu Services Group can source from Guangzhou Yuexiu and our company.According to the announcement, annual caps for these agreements have been set and will be adjusted based on historical transaction amounts, existing contracts and expected growth. The total annual cap of the Property Management and Value Added Services Framework Agreement in 2025 is approximately RMB199.2 million, while the annual cap for the Procurement Framework Agreement is approximately RMB104.2 million. These agreements are designed to improve Yue Xiu Services Group's service efficiency and expand its market share.Yuexiu Properties said the agreements will help consolidate its position as a comprehensive property management service provider and promote diversification of revenue sources. The Board considers that the terms of the Agreement are fair and reasonable and in the overall interests of the Company and its shareholders. The announcement also states that these transactions are subject to the reporting, annual review and announcement requirements of Chapter 14A of the Hong Kong Listing Rules, but are exempt from approval by independent shareholders.