CSSC Offshore & Marine Engineering (Group) Company Limited (the “Company,” H Shares Stock Code: 00317) announced an agreement with CSSC Finance for the provision of financial services through 2026. The 2025 Financial Services Framework Agreement, which currently governs related transactions, will conclude on December 31, 2025, prompting the parties to establish a new 2026 Financial Services Framework Agreement. This new agreement covers deposit services, lending, other and bank credit services, as well as foreign exchange services such as forward settlement and sale of foreign exchange.

The Company notes that the transactions—particularly deposit services and certain foreign exchange services—constitute non-exempt continuing connected transactions and major transactions under the Hong Kong Listing Rules due to their scale. They therefore require approval by independent shareholders at an extraordinary general meeting (EGM). Loans and other credit services from CSSC Finance remain exempt from additional reporting and approval requirements because they will be offered on normal commercial terms without any security over the Company’s assets.

The proposed annual caps for 2026 reflect expectations of increased capital needs and deposit volumes relative to 2025. The Company cites factors such as production expansion and anticipated inflows from orders, especially in foreign currencies, as key drivers. An independent board committee—comprising all independent non-executive directors—will review the transactions and recommended annual caps, and an independent financial adviser will provide a report. A circular detailing the agreement and the caps will be distributed before December 12, 2025. Subject to EGM approval, the 2026 Financial Services Framework Agreement will take effect on January 1, 2026 and run through December 31, 2026.