C&D International Investment Group Limited (1908) and C&D Property Management Group Co., Ltd (2156) announced the renewal of a previous agreement first signed in October 2022 for property management, community value-added and synergy services, along with value-added services to non-property owners. The new agreement, entered into on 30 October 2025 and effective from 1 January 2026 to 31 December 2028, extends the existing Business Framework Agreement which is set to expire on 31 December 2025.
Under the renewed arrangement, C&D Property Management Group Co., Ltd and its associates are expected to continue providing greening, gardening, security, cleaning, and various other management and value-added services to entities within the Remaining C&D Real Estate Group and the Remaining C&D International Group. The projected annual caps for service fees range from RMB1.82 billion to RMB2.39 billion across the three years ending 31 December 2028. These caps take into account historical transaction totals, anticipated market conditions, and expected growth of the property development business.
In accordance with Chapter 14A of the Listing Rules, the transactions qualify as continuing connected transactions. For C&D International, they are subject to reporting, announcement, and annual review requirements, while for C&D Property they additionally require independent shareholders’ approval due to higher percentage ratios. An extraordinary general meeting will be convened by C&D Property to allow its independent shareholders to vote on the transactions. C&D Real Estate remains the controlling shareholder for both 1908 and 2156, and relevant parties connected to it will abstain from voting. The circular for shareholders is scheduled for dispatch on or before 5 December 2025.
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