世纪联合控股(01959) - 2025 - 年度业绩

Overview of Announcement Purpose and Scope This announcement supplements Century United Holdings Limited's 2024 annual report, providing additional information on continuing connected transactions, specifically the property lease framework agreement - This announcement is a supplementary announcement to the 2024 annual report of Century United Holdings Limited (Stock Code: 1959)[2] - The main supplementary content concerns continuing connected transactions, particularly the property lease framework agreement[2][3] Continuing Connected Transactions Property Lease Framework Agreement Century United Holdings Limited entered into a property lease framework agreement with Zhongshan Genesis Automobile Co., Ltd. and its subsidiaries to meet the Group's operational needs, setting annual caps for rent and right-of-use assets Key Terms of Agreement The agreement was signed on December 31, 2021, valid until December 31, 2024, with the Company as lessee and Zhongshan Genesis Automobile Co., Ltd. as lessor - The agreement date is December 31, 2021[3] - The contracting parties are the Company (lessee) and Zhongshan Genesis Automobile Co., Ltd. (lessor)[3] - The agreement period is from January 1, 2022, to December 31, 2024[4] Purpose and Scope of Lease Leased properties include land and buildings for shops, offices, warehouses, and parking spaces to meet the Group's operational requirements - The purpose of the lease is to meet the Group's operational needs, including land and buildings for shops, offices, warehouses, and parking spaces[5] - Members of the Group will enter into separate agreements with the Excluded Group for the leased properties, with terms consistent with the framework agreement[5] Rent Determination Mechanism Rent is determined on normal commercial terms no less favorable than market rates, through fair negotiation, considering development, construction, upgrade, decoration costs, depreciation, and market conditions of the property location and similar leases - Rent is determined on normal commercial terms no less favorable than market rates, through fair negotiation[7] - Factors for rent determination include land development and integration costs, construction costs, utility upgrade costs, decoration costs, and property depreciation costs[7] - Rent determination also considers current market conditions of the property location and current rental levels of similar leases nearby[7] Annual Caps and Accounting Treatment The agreement sets an annual rent cap of RMB 4,686,000 for 2022-2024; under IFRS 16, long-term leases recognize right-of-use assets and lease liabilities, with an annual cap for right-of-use assets Annual Caps for Property Lease Framework Agreement | Metric | 2022 (RMB '000) | 2023 (RMB '000) | 2024 (RMB '000) | | :--- | :--- | :--- | :--- | | Estimated Annual Rent Payable | 4,686 | 4,686 | 4,686 | | Annual Cap for Right-of-Use Assets | 13,011 | — | — | - According to IFRS 16 Leases, long-term leases (over 12 months) require recognition of right-of-use assets and lease liabilities[8] Actual Execution in FY2024 For the year ended December 31, 2024, the Group's actual total rent paid and right-of-use assets recognized were both RMB 0, neither exceeding the annual caps Actual Execution of Property Lease Framework Agreement in FY2024 | Metric | 2024 (RMB) | Exceeded Annual Cap | | :--- | :--- | :--- | | Actual Total Rent Paid | 0 | No | | Right-of-Use Assets Recognized | 0 | No | Other Information Board Statement Information disclosed in this supplementary announcement does not affect other content in the 2024 annual report and lists the board members as of the announcement date - The information in this supplementary announcement does not affect other information contained in the 2024 annual report, and the remaining content remains unchanged[10] - The announcement lists the Chairman, Executive Director and CEO Luo Houjie, as well as other Executive Directors and Independent Non-Executive Directors[11]