Poly Property Services (06049) has announced a 2026-2028 Deposit Service Framework Agreement with Poly Finance, a connected person wholly owned by China Poly Group. Under this agreement, Poly Finance is set to provide deposit services to Poly Property Services from 1 January 2026 to 31 December 2028, with the maximum daily balance of deposits (including interest accrued) capped at RMB2,030 million for each of the three years.

According to the announcement, China Poly Group’s significant shareholding of 72.289% in the company makes Poly Finance a connected person, meaning the deposit services fall under continuing connected transactions. As the highest applicable percentage ratio surpasses 5% but remains below 25%, these transactions are subject to reporting, announcement, annual review, and independent shareholders’ approval. The agreement will also be classified as a discloseable transaction under the Listing Rules.

An Extraordinary General Meeting (EGM) is scheduled for 30 December 2025 to review and approve the framework agreement and the annual cap. China Poly Group and its associates will abstain from voting. In advance of the EGM, the register for H Shareholders will be closed from 23 December 2025 to 30 December 2025, during which period no transfers of shares will be registered. The company anticipates dispatching a circular containing further details by or before 15 December 2025.

The agreement outlines that deposit interest rates offered by Poly Finance will exceed the average rates of comparable deposits at major PRC state-owned commercial banks. Poly Finance, being well-acquainted with the business operations of Poly Property Services, is expected to provide efficient and compatible deposit services in line with the group’s centralised treasury management approach and overall risk management guidelines.