Xtep Int'l completed the sale of KP Global Group on November 30, 2024, and KP Global is no longer a subsidiary of Xtep. Additionally, KP Global has issued convertible bonds. Following the completion of the sale, KP Global's financial data will no longer be consolidated into Xtep's accounts. Xtep announced a special dividend of HKD 0.447 per share, which is expected to be paid on December 6, 2024. To regulate the arrangements following the sale, Xtep and KP Global have signed a transitional services agreement, which includes office space leasing, shared administrative services, and financial support. Since KP Global has become a related party, these transactions constitute continuing connected transactions. According to listing rules, certain transactions are exempt from disclosure obligations. Furthermore...Show More

Xtep Int'l completed the sale of KP Global Group on November 30, 2024, and KP Global is no longer a subsidiary of Xtep. Additionally, KP Global has issued convertible bonds. Following the completion of the sale, KP Global's financial data will no longer be consolidated into Xtep's accounts. Xtep announced a special dividend of HKD 0.447 per share, which is expected to be paid on December 6, 2024. To regulate the arrangements following the sale, Xtep and KP Global have signed a transitional services agreement, which includes office space leasing, shared administrative services, and financial support. Since KP Global has become a related party, these transactions constitute continuing connected transactions. According to listing rules, certain transactions are exempt from disclosure obligations. Furthermore, Xtep and KP Global have reached a warehouse and logistics service agreement to provide warehousing and logistics services. These transactions must comply with reporting and announcement requirements but are exempt from circular and independent shareholder approval. Xtep will monitor the continuing connected transactions to ensure compliance with the specified pricing policy, which will be subject to an annual audit by an external auditor and the board of directors' audit committee.