Yuexiu Property (00123) Announces Continuing Connected Transaction under New 2025 Procurement Framework Agreement

Bulletin Express12-02

Yuexiu Property Company Limited (00123) has entered into the 2025 Procurement Framework Agreement with Guangzhou Yue Xiu Holdings Limited (GZYX), its ultimate controlling shareholder. Under this arrangement, the group may procure products and services such as dairy and processed foods, fresh food items, supermarket merchandise, and culture and tourism services from GZYX-related entities between 2 December 2025 and 31 December 2027.

According to the announcement, Yuexiu Property recorded historical procurement amounts of RMB 1,084,000, RMB 4,207,000, and RMB 8,021,000 for the relevant products and services in 2022, 2023, and 2024, respectively. The new annual caps for 2025, 2026, and 2027 have been set at RMB 15,000,000, RMB 21,000,000, and RMB 27,000,000, respectively. These limits were determined based on Yuexiu Property’s business development plans, anticipated cost increments due to inflation, and historical market prices.

GZYX, being a connected person under the Listing Rules, triggers continuing connected transaction requirements for these procurements. As the highest applicable percentage ratio is above 0.1% but below 5% when combined with the caps from a separate Yuexiu Services Procurement Framework Agreement, the transaction is subject to reporting, annual review, and announcement requirements, but exempt from circular and independent shareholder approval. The company has implemented internal control measures such as monthly monitoring of transaction amounts and semiannual reporting to the audit committee to ensure ongoing compliance with the Listing Rules.

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