Beijing Urban Construction Design & Development Group Co., Limited (Stock Code: 1599) issued a circular announcing plans to renew its Integrated Services Framework Agreement with Beijing Urban Construction Group Co., Ltd. (BUCG) for three years from 1 January 2026 to 31 December 2028. The arrangement will cover the mutual provision of services, including engineering, construction, design, and consultancy, subject to annual caps for expected revenue and expenditures. According to the announcement, projected revenue from BUCG could reach RMB680 million, RMB720 million, and RMB760 million from 2026 to 2028, while projected expenditures on services from BUCG may be approximately RMB590 million, RMB620 million, and RMB660 million in the same period.
The circular states that the continuing connected transactions are conducted in the ordinary course of business at government or market-guided prices, subject to internal control procedures and ongoing review by independent directors and auditors. Such transactions, once approved, aim to standardize service terms, pricing principles, and cooperation processes, enhancing competitiveness and accessing broader market opportunities.
Separately, the board proposes appointing Mr. Tian as an independent non-executive director. He has extensive legal experience, specializing in company law, investments, and mergers and acquisitions. Subject to shareholders’ approval, his appointment will be effective until the end of the current board session.
An Extraordinary General Meeting is scheduled on 23 December 2025 in Beijing. Shareholders will vote on the renewal of the Integrated Services Framework Agreement alongside the appointment of the proposed independent non-executive director. The register of members for H Shares will close from 18 December 2025 to 23 December 2025 (both days inclusive), during which share transfers will be suspended. Shareholders whose names appear on the register by 23 December 2025 are eligible to attend and vote. The announcement emphasizes that all relevant documents and procedures comply with regulatory disclosure and connected transaction requirements under the Listing Rules.