Zensun Enterprises Limited (Stock Code: 185) announced the renewal of two master agreements with Xingye Wulian Service Group Co. Ltd. (Stock Code: 9916) for property management and value-added services as well as property engineering services. According to the announcement dated 20 November 2025, both the “2025 Master Property Management Framework Agreement” and the “2025 Master Property Engineering Framework Agreement” will run from 1 January 2026 to 31 December 2028. These transactions fall under continuing connected transactions requirements as Xingye Wulian is indirectly owned 56.59% by the Blossom Trust, controlled by a connected party to Zensun Enterprises.

Under the updated agreements, the annual caps for property management and value-added services are RMB8.3 million, RMB8.6 million, and RMB8.8 million for the years ending 31 December 2026, 2027, and 2028 respectively. For property engineering services, the corresponding annual caps stand at RMB11.8 million, RMB11.7 million, and RMB11.6 million. Historical transaction amounts for property management and value-added services reached approximately RMB17.3 million and RMB19.7 million for the two financial years ended 31 December 2024, with RMB6.9 million recorded in the first nine months of 2025. Property engineering services came to RMB26.3 million and RMB13.3 million for the same two-year period, with RMB8.7 million registered during the first nine months of 2025.

The announcement states the arrangements are on normal commercial terms, subject to reporting and announcement obligations under Chapter 14A of the Listing Rules but exempt from independent shareholders’ approval. The company cites efficiency and the solid track record of Xingye Wulian Group as key factors driving these renewals.