Yuexiu Property (00123) entered into a 2026 Bank Deposits And Ancillary Services Agreement on 14 November 2025 with Chong Hing Bank (CHB). The term, subject to shareholder approval, runs from 1 January 2026 to 31 December 2028 and expands the existing framework of bank deposits to include ancillary services such as facilitating dividend distributions.
According to the announcement, the historical annual caps for the Bank Deposits under the existing arrangement were RMB13 billion, RMB14.5 billion, and RMB16 billion for 2023, 2024, and 2025, respectively. Meanwhile, the highest daily outstanding balances for 2023, 2024, and for the ten months ended 31 October 2025 reached approximately RMB12.867 billion, RMB7.396 billion, and RMB10.777 billion, respectively. Under the new agreement, annual caps of RMB16 billion for each of 2026, 2027, and 2028 are proposed, reflecting the Group’s expanding operations and need to accommodate potentially large deposits from major funding exercises.
CHB is a subsidiary of Yue Xiu Enterprises (Holdings) Limited, the controlling shareholder of Yuexiu Property, making CHB a connected person under Listing Rules. As the largest applicable percentage ratio of the new annual caps exceeds 5%, the agreement is subject to reporting, announcement, annual review, and independent shareholders’ approval. Yuexiu Property plans to distribute a circular on or before 5 December 2025 containing further details of the transaction, recommendations from the Independent Board Committee, and a letter from an independent financial adviser, ahead of a general meeting to consider approval of the agreement.
Comments