C&D International Investment Group Limited (Stock Code: 1908) and C&D Property Management Group Co., Ltd (Stock Code: 2156) announced the renewal of their Business Framework Agreement with C&D Real Estate for a further three-year term, starting from 1 January 2026 to 31 December 2028. The original agreement will expire on 31 December 2025.
Under the renewed agreement, the C&D Property Group and its associates will continue providing property management services, community value-added and synergy services, and value-added services to non-property owners to (i) the Remaining C&D Real Estate Group and its connected companies, and (ii) the Remaining C&D International Group. Reported historical transaction amounts under the existing arrangement totaled RMB 1,133 million in 2023, RMB 1,147 million in 2024, and RMB 516 million for the first half of 2025. Proposed annual caps for 2026, 2027, and 2028 are set at RMB 1,820 million, RMB 2,090 million, and RMB 2,390 million respectively.
The announcement indicates that, for C&D International, the proposed transactions constitute continuing connected transactions under Chapter 14A of the Listing Rules, with the relevant percentage ratios exceeding 0.1% but below 5%. They therefore require reporting, announcement, and annual review but do not require independent shareholder approval. For C&D Property, the percentage ratios exceed 5%, and an extraordinary general meeting is being convened to seek independent shareholders’ approval. The controlling shareholders, including C&D International and Well Land, will abstain from voting. A circular, including further details, will be dispatched to the shareholders of C&D Property on or before 5 December 2025, subject to the preparation of additional information.
