China Overseas Grand Oceans Group Limited (COGOG, stock code: 81) has disclosed a new three-year Renewal Framework Agreement with China Overseas Property Holdings Limited (COPL) for transactions involving the disposal of rights-of-use of car parking spaces. The new arrangement will be effective from 1 January 2026 to 31 December 2028, continuing the practice set under the Existing Framework Agreement that expires on 31 December 2025.

Under the Renewal Framework Agreement, COGOG may dispose of rights-of-use of car parking spaces at developments built or owned by COGOG and managed by COPL. Each year’s transaction sum will be capped at RMB100 million. The agreement terms are intended to be on normal commercial and arm’s-length bases and are subject to the necessary pricing, internal control, and compliance procedures. According to the announcement, these disposals facilitate faster capital turnover and reduced selling expenses for COGOG, aligning with the group’s overall development strategies. As the transaction levels are below the prescribed thresholds under Chapter 14A of the Listing Rules, they are exempt from shareholders’ circular and approval requirements, though they remain subject to reporting and annual review responsibilities.