Shanghai Industrial Holdings Limited (363) released a circular dated 25 February 2026 detailing a major transaction and continuing connected transactions concerning a financial services agreement with SIIC Shanghai Group Finance Co., Ltd. (SIIC Finance), alongside a proposal for re-electing two retiring directors.

Under the agreement, the Group plans to place deposits with SIIC Finance. The proposed maximum daily outstanding balance of deposits (including accrued interest) is set at RMB 10.00 billion from the agreement’s effective date until 31 December 2028. The deposit services will be conducted on general commercial terms, with interest rates not lower than those offered by major commercial banks in the PRC.

As these deposit services exceed certain thresholds, they are classified as a major transaction and continuing connected transactions, requiring independent shareholders’ approval. Shanghai Industrial Investment (Holdings) Company Limited and close associates, holding approximately 63.16% of the total shares, will abstain from voting.

The circular also includes the proposed re-election of Prof. Zhang Qian and Mr. Tang, William Harry Jiasheng as independent non-executive directors. For voting on these matters, the extraordinary general meeting is scheduled for 23 April 2026 at 3:00 p.m. at the Company’s conference room. Shareholders are advised to review the circular’s instructions to ensure proper proxy and attendance procedures.