Changjiu Holdings Limited (Stock Code: 6959) has entered into the 2025 Automobile Dealership Operation Management Service Framework Agreement with Changjiu Industrial to renew its continuing connected transactions for three years from January 1, 2026 to December 31, 2028. The Group will continue providing automobile dealership operation management services to dealerships owned by Changjiu Group in exchange for service fees determined by a specified percentage of the dealerships’ annual revenue. Proposed annual caps for this arrangement are RMB57,000,000 for 2026, RMB55,160,000 for 2027, and RMB53,320,000 for 2028.

According to the announcement, Changjiu Industrial is deemed a connected person as it is controlled by Director and Controlling Shareholder Mr. Bo. The renewal thus requires reporting, announcement, and Independent Shareholders’ approval in accordance with Chapter 14A of the Listing Rules. To this end, the Company will hold an EGM to seek Independent Shareholders’ approval; Ms. Li and Mr. Bo have abstained from relevant Board voting and will also abstain at the EGM. The Independent Board Committee has been formed to review the transaction, and Rainbow Capital (HK) Limited has been appointed as Independent Financial Adviser. The Company’s announcement highlights that the agreement optimizes resource usage given Changjiu Group’s extensive dealership network and aims to enhance the stability of the Group’s revenue streams. Internal controls have been outlined to ensure the transaction terms remain fair, reasonable, and in line with market benchmarks.