Seazen Group Limited (Stock Code: 1030) announced that on 30 October 2025, its subsidiary Seazen Holdings (listed on the SSE, stock code: 601155) entered into a Lease Service Framework Agreement with Mitaki Culture. Under this agreement, Seazen Holdings will provide leasing and property management services for Mitaki Culture’s projects from 30 October 2025 to 31 December 2027.

According to the announcement, Mitaki Culture is classified as a connected person of Seazen Group Limited due to indirect common ownership interests. Therefore, the transactions under this framework agreement qualify as continuing connected transactions under the Listing Rules and are subject to reporting, announcement, and annual review requirements. The highest applicable percentage ratios for the Annual Caps exceed 0.1% but are below 5%, exempting the arrangement from independent Shareholders’ approval.

The agreement sets annual caps of RMB3 million for 2025 and RMB40 million each for 2026 and 2027. These figures take into account projected demand for leasing and property management services, anticipated turnover at the properties, and market rates. The Board noted that these transactions could streamline the Group’s diverse income streams and confirmed that the terms are on normal commercial terms and in the ordinary and usual course of business.

Throughout the term of the agreement, Seazen Holdings and Mitaki Culture may enter into subsidiary agreements specifying individual lease or property management arrangements. The principles of arm’s length negotiations and market-based pricing will apply, ensuring that each transaction aligns with the framework agreement’s provisions and relevant regulatory requirements.