Radiance Holdings (Group) Company Limited has executed a New Property Management Related Services Framework Agreement with connected party Radiance Smart Holding Limited, effective from 1 January 2026 to 31 December 2028.
Key Terms and Scope • Radiance Smart Holdings and its subsidiaries will continue to provide three main service categories to the Group: 1) Management of unsold residential units and parking spaces; 2) Pre-delivery management and value-added services (including design consultancy, unit inspection, cleaning, repair, security and facilities management); 3) Sales management services for display units and sales offices.
Annual Caps and Historical Utilisation • New annual caps are set at RMB100.00 million for each of the financial years 2026, 2027 and 2028. • Under the expiring 2023-2025 framework, caps were RMB300 million, RMB350 million and RMB400 million respectively, while actual usage amounted to RMB90 million, RMB71 million and RMB7 million. • During 1 January-10 June 2026, post-expiry interim transactions totalled RMB3.64 million, below the 0.1 % Listing Rules threshold for mandatory disclosure.
Pricing and Controls Service fees will be set after arm’s-length negotiations, benchmarked against at least two comparable third-party transactions and prevailing market data, and, where applicable, local government guidance rates. Multi-tier internal approvals, quarterly compliance checks and real-time cap monitoring (with alerts at 85 % utilisation) will underpin ongoing adherence to Listing Rules. Independent non-executive directors and external auditors will conduct annual reviews of pricing and cap usage.
Regulatory Status Given the transaction size—highest applicable percentage ratio below 5 %—the agreement is classified as a continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules. It is subject to reporting, annual review and announcement requirements but is exempt from circular and independent shareholders’ approval. Executive Director and controlling shareholder Mr Lam Ting Keung, together with Director Mr Lam Yu, abstained from the board vote approving the agreement.
Rationale Radiance Smart Holdings, a wholly owned subsidiary of Radiance Group Holdings Limited (64.97 % owned by Mr Lam and 35.03 % by Ms Lam), has longstanding experience in property management across mainland China. Continuation of services is expected to deliver cost efficiency and quality benefits to Radiance Holdings’ nationwide residential development portfolio of 195 projects with an estimated 2.10 million sq.m. of GFA slated for delivery through 2028.