On November 21, 2024, Yuexiu Property signed the 2025 property management and value-added service framework agreement and procurement framework agreement with Yuexiu and Yuexiu Service in Guangzhou. These agreements will take effect on January 1, 2025, and last until December 31, 2027. The property management and value-added service framework agreement integrates the relevant agreements from 2022, allowing Yuexiu Service Group to provide property management, value-added services, and market positioning consulting services to Guangzhou Yuexiu and its affiliates. The procurement framework agreement expands the range of products and services that the Yuexiu Service Group can purchase from Guangzhou Yuexiu and the company. According to the announcement, the annual maximum for these agreements has been set and will be adjusted based on historical transaction amounts, existing contracts...Show More

On November 21, 2024, Yuexiu Property signed the 2025 property management and value-added service framework agreement and procurement framework agreement with Yuexiu and Yuexiu Service in Guangzhou. These agreements will take effect on January 1, 2025, and last until December 31, 2027. The property management and value-added service framework agreement integrates the relevant agreements from 2022, allowing Yuexiu Service Group to provide property management, value-added services, and market positioning consulting services to Guangzhou Yuexiu and its affiliates. The procurement framework agreement expands the range of products and services that the Yuexiu Service Group can purchase from Guangzhou Yuexiu and the company. According to the announcement, the annual maximum for these agreements has been set and will be adjusted based on historical transaction amounts, existing contracts, and expected growth. The total annual maximum for the 2025 property management and value-added service framework agreement is approximately RMB 199.2 million, while the total annual maximum for the procurement framework agreement is approximately RMB 104.2 million. These agreements aim to improve the service efficiency of the Yuexiu Service Group and expand its market share. Yuexiu Property stated that these agreements will help consolidate its position as a comprehensive property management service provider and promote revenue diversification. The board of directors believes that the agreement terms are fair and reasonable, in line with the overall interests of the company and shareholders. The announcement also notes that these transactions are subject to disclosure, annual review, and announcement requirements under Chapter 14A of the Hong Kong Listing Rules, but are exempt from independent shareholder approval.