IMPRESSION DHP (02695) has announced updates regarding its project cooperation agreements. In October 2020, its subsidiary Impression Dahongpao Culture signed a project cooperation agreement with Fujian Chuntian for the Impression Tianjie (Impression Jianzhou) project. Based on the original agreement and its investment, Fujian Chuntian acquired corresponding rights to the assets and cooperative operation rights related to Impression Jianzhou.

After evaluating the operational outcomes from Fujian Chuntian, Impression Dahongpao Culture has terminated the original cooperation agreement and completed the repurchase of the Impression Jianzhou-related assets from Fujian Chuntian. The company has subsequently identified a new partner, Yipeng Rail, through a bidding process to take over the Impression Jianzhou project. Yipeng Rail will be responsible for the renovation and enhancement of the project and will establish a project company with its affiliate Shanghai Bize to manage the operations.

On June 16, 2026, Impression Dahongpao Culture entered into an operations cooperation agreement with Wuyishan Chenjing and Wuyishan Chunhe Jingming. Under this agreement, for its duration, Impression Dahongpao Culture will exclusively entrust the entire Impression Jianzhou project to Wuyishan Chenjing for operational management.

Regarding the group's Chahong Hotel, which is managed by the subsidiary Wuyishan Chahong Resort Co., Ltd., a delegated management agreement and several supplementary agreements were previously signed with the independent third party Fuzhou Taiziran Health Management Group Co., Ltd. (Taiziran), collectively referred to as the "Chahong Management Arrangement."

During the cooperation period, Taiziran fulfilled its obligations under the arrangement with no breaches from either party. However, due to the hotel's operational performance falling short of expectations and divergences in key areas such as development strategy, operational philosophy, business tactics, market positioning, and cost control, both parties signed a termination agreement on February 25, 2026. They mutually agreed to terminate the Chahong Management Arrangement effective February 28, 2026, and to complete all handover arrangements during a transition period.

The Chahong Hotel is now independently operated by the company with assistance from Wuyishan Xiju Hotel Management Co., Ltd., an independent third-party hotel management company.