China Hongqiao Group Co., Ltd. (Stock Code: 1378) announced on 28 December 2023 that its indirect subsidiaries, Hongxiang Thermal Power and Huimao New Materials, had signed a land use transfer agreement with Weiqiao Enterprise Group to acquire three industrial sites in Zouping City, Shandong Province, China. The total cost of the transaction is approximately RMB239,671,000 (approximately HK$263,780,000). As Weiqiao Enterprises Group is a contact of Mr. Zhang Bo, the executive director, this acquisition constitutes a connected transaction. Under Chapter 14A of the Listing Rules, the maximum applicable percentage rate of more than 0.1% but less than 5% is therefore subject to the declaration and announcement requirements but is exempt from compliance with the Circular, Independent Financial Opinion and Shareholder Approval requirements. The Board of Directors considers that this acquisition will reduce the operational risk of Wang Xie Thermal Power and Huimao New Materials and be in the overall interests of the Company and its shareholders.

China Hongqiao Group Co., Ltd. (Stock Code: 1378) announced on 28 December 2023 that its indirect subsidiaries, Hongxiang Thermal Power and Huimao New Materials, had signed a land use transfer agreement with Weiqiao Enterprise Group to acquire three industrial sites in Zouping City, Shandong Province, China. The total cost of the transaction is approximately RMB239,671,000 (approximately HK$263,780,000). As Weiqiao Enterprises Group is a contact of Mr. Zhang Bo, the executive director, this acquisition constitutes a connected transaction. Under Chapter 14A of the Listing Rules, the maximum applicable percentage rate of more than 0.1% but less than 5% is therefore subject to the declaration and announcement requirements but is exempt from compliance with the Circular, Independent Financial Opinion and Shareholder Approval requirements. The Board of Directors considers that this acquisition will reduce the operational risk of Wang Xie Thermal Power and Huimao New Materials and be in the overall interests of the Company and its shareholders.