CHINA OVS PPT (02669) announced that on December 24, 2025, Beijing Zhonghai, Zhonghai Hongyang, and Zhonghai Haihui (all indirect wholly-owned subsidiaries of the Company) entered into a capital injection agreement with China Construction Asset Management (a direct wholly-owned subsidiary of China Construction Group) and China Construction Property Management Co., Ltd. (the "Target Company").
Under the agreement, Beijing Zhonghai, Zhonghai Hongyang, and Zhonghai Haihui will invest approximately RMB13.9 million, RMB13.9 million, and RMB11.2 million (totaling RMB39 million) into the Target Company, respectively. Of this amount, around RMB37.8 million will be allocated to increase the registered capital of the Target Company, while approximately RMB1.2 million will be used to boost its capital reserves. China Construction Asset Management has waived its preemptive rights related to the capital injection.
Upon completion, Beijing Zhonghai, Zhonghai Hongyang, and Zhonghai Haihui will hold approximately 25%, 25%, and 20% of the enlarged equity in the Target Company (aggregating 70%), respectively. The Target Company will become a subsidiary of CHINA OVS PPT, and its financial results will be consolidated into the Group's financial statements under Hong Kong accounting standards.
This capital injection presents a strategic opportunity for the Group to expand its business footprint and operational scale in Zhangjiakou, reinforcing its position as a leading property management company in mainland China. Key considerations include: 1. Aligning with the Group's strategic focus as an integrated urban space operator, particularly in urban auxiliary facility management—the Target Company's core business. 2. Enhancing the Group's primary operations and future commercial prospects in China's urban auxiliary facility management market, leveraging the Target Company's strategic presence in Zhangjiakou. 3. Benefiting from the Target Company's portfolio of 17 property and urban auxiliary facility management projects, along with its experienced professional team, which is expected to generate stable income. 4. Streamlining management integration, as the Target Company has entrusted its operations to the Group since August 2023 and will continue using the "China Construction Property" brand under the agreement.
For instance, through strategic collaboration under the management agreement, the Target Company secured multiple large-scale urban auxiliary facility management projects in Zhangjiakou in 2024.
