Changan Minsheng APLL Logistics Co., Ltd. (01292) has disclosed proposed annual caps for continuing connected transactions in 2026, including a major transaction attributed to deposit services. These measures involve framework agreements with several entities such as Changan Automobile, ChenZhi Automobile Technology Group Co., Ltd. (formerly known as CZAG), Minsheng Industrial, and China South Industries Group Finance Co., Ltd. (Zhuangbei Finance).

Under the non-exempt category, the company anticipates additional revenue through logistics services provided to major clients, particularly in automobile production and supply chain management, while also planning to purchase logistics services for specific operations like waterway transport. The deposit arrangement with Zhuangbei Finance is classified as a major transaction due to its applicable percentage ratio surpassing 25%, necessitating disclosure and approval from independent shareholders.

Separately, continuing connected transactions exempt from independent shareholders’ approval obligations cover certain security, cleaning, and property leasing services from various associates, as well as logistics services involving APL Logistics Ltd. (APLL). These exempt transactions fall below the relevant thresholds under the Listing Rules.

Changan Minsheng APLL Logistics (01292) intends to convene an extraordinary general meeting to seek independent shareholders’ approval for transactions exceeding the 5% thresholds and for the deposit arrangement labeled as a major transaction. Details of the proposed annual caps for the continuing connected transactions and the maximum deposit balance will be outlined in a forthcoming circular, targeted for release on or before 31 December 2025.