Beijing Urban Construction Design & Development Group Co., Limited (stock code: 1599) issued an announcement regarding the renewal of two framework agreements with Beijing Urban Construction Group Co., Ltd. (BUCG). These include the Integrated Services Framework Agreement and the Property and Land Leasing Framework Agreement, both extended for three years from January 1, 2026, to December 31, 2028.

Under the renewed Integrated Services Framework Agreement, the transaction scope covers mutual provision of services. For the coming three financial years, the proposed annual caps for services provided by Beijing Urban Construction Design & Development Group Co., Limited to BUCG, its subsidiaries, and/or associates are RMB 680 million, RMB 720 million, and RMB 760 million, respectively. The corresponding annual caps for services received by Beijing Urban Construction Design & Development Group Co., Limited from BUCG, its subsidiaries, and/or associates are RMB 590 million, RMB 620 million, and RMB 660 million, respectively.

Separately, under the renewed Property and Land Leasing Framework Agreement, the company will continue leasing property and land from BUCG. The annual caps for the three financial years ending December 31, 2028, are set at RMB 23 million each year, covering rental expenses and other associated costs.

These transactions constitute continuing connected transactions under Chapter 14A of the Hong Kong Listing Rules. Given the highest applicable percentage ratios, certain items require independent shareholders’ approval. An extraordinary general meeting will be convened to seek approval for relevant agreements and annual caps. Independent directors and an independent financial adviser will provide opinions, and a circular detailing the transactions is scheduled to be dispatched in due course.