China Resources Beer (Holdings) Company Limited (the “Company”) has signed the Business Travel Services Framework Agreement 2026 with China Resources Digital, aiming to secure business travel services for a three-year term from 1 January 2026 to 31 December 2028. This arrangement replaces the existing agreement, which expires on 31 December 2025.
Under the new agreement terms, China Resources Digital Group will provide booking, cancellation, and related customer services for flights, accommodations, train tickets, and ride-hailing on a cost-plus basis. The agreement sets a fixed service fee capped at RMB15 per transaction, with references to prevailing market rates. Historical transaction values under the current agreement reached approximately RMB183 million in 2023, RMB236.19 million in 2024, and RMB160.36 million for the ten months ended 31 October 2025.
The proposed annual caps for the business travel service fees are RMB248.69 million for 2026 and RMB273.55 million for both 2027 and 2028. Given the transaction scale, the arrangement constitutes continuing connected transactions under the Listing Rules, subject to the reporting, announcement, and annual review requirements but exempt from independent shareholders’ approval. China Resources Digital is an indirect wholly-owned subsidiary of China Resources Inc., which is a connected person of the Company.
The directors believe that centralizing booking processes helps reduce administrative costs and enhance the Group’s digital transformation. Internal control measures, including market comparisons and regular audit committee reviews, are in place to ensure terms remain fair, reasonable, and in the interest of shareholders.
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