Core Viewpoint - Guangdong Shiyong Zhaoye Co., Ltd. has approved the expected daily related transactions for 2025, with a total amount not exceeding RMB 175 million, involving two main related parties: Guangdong Baoying Construction Technology Co., Ltd. and Zhuhai Zhaofeng Concrete Co., Ltd. [2][5][25] Group 1: Daily Related Transactions Overview - The company and its subsidiaries expect to engage in daily related transactions totaling up to RMB 175 million in 2025, with RMB 100 million allocated for transactions with Guangdong Baoying Construction Technology Co., Ltd. and RMB 75 million for transactions with Zhuhai Zhaofeng Concrete Co., Ltd. [2][6][25] - The board meeting held on August 14, 2025, resulted in a unanimous approval of the related transactions, with all independent directors agreeing to submit the proposal for board review [3][4][21]. Group 2: Transaction Details - The expected transactions with Guangdong Baoying Construction Technology Co., Ltd. include labor services for construction and decoration projects, with a total expected amount of up to RMB 100 million [7][17]. - The expected transactions with Zhuhai Zhaofeng Concrete Co., Ltd. involve sales of construction materials totaling up to RMB 50 million and procurement of raw materials totaling up to RMB 25 million [18][20]. Group 3: Related Parties Information - Guangdong Baoying Construction Technology Co., Ltd. has total assets of RMB 450.42 million and a net profit of RMB 3.38 million for the year 2024 [10]. - Zhuhai Zhaofeng Concrete Co., Ltd. has total assets of RMB 327.74 million but reported a net loss of RMB 35.01 million for the year 2024 [12]. Group 4: Compliance and Approval - The transactions are within the board's approval authority and do not require shareholder meeting approval [8]. - The independent directors have confirmed that the proposed transactions are normal business activities and do not affect the company's independence [21].

Summary of Key Points Core Viewpoint - The company has announced its expected daily related transactions for the year 2025, which will not exceed RMB 175 million, involving services and sales with related parties, ensuring compliance with market pricing principles and maintaining fairness in transactions [1][10]. Group 1: Daily Related Transactions Overview - The total expected daily related transactions for 2025 are estimated at RMB 175 million, including: - Services provided by Guangdong Baoying Construction Technology Co., Ltd. (Baoying) not exceeding RMB 100 million [1]. - Sales to Zhuhai Zhaofeng Concrete Co., Ltd. (Zhaofeng Concrete) not exceeding RMB 50 million [1]. - Purchases from Zhaofeng Concrete not exceeding RMB 25 million, with actual transactions in 2024 amounting to RMB 18.23 million [1][4]. Group 2: Transaction Approval and Compliance - The board of directors approved the related transactions with a unanimous vote, with independent directors reviewing and consenting to the proposal prior to the board meeting [1][10]. - The transactions fall within the board's approval authority and do not require shareholder meeting approval [2]. Group 3: Transaction Details and Pricing Principles - The expected transactions include: - Acceptance of construction and engineering services from Baoying, with a total expected amount of RMB 100 million, based on market pricing principles [9]. - Sales of construction materials to Zhaofeng Concrete, with expected sales not exceeding RMB 50 million, also based on market pricing [9]. - Purchases of raw materials from Zhaofeng Concrete, with expected purchases not exceeding RMB 25 million, following market pricing [9]. Group 4: Financial and Operational Background of Related Parties - Baoying was established in March 2014, with total assets of RMB 450.42 million and net assets not specified, and is not a defaulting entity [6]. - Zhaofeng Concrete was established in December 2005, with total assets of RMB 327.74 million, net assets of -RMB 5.12 million, and a 2024 revenue of RMB 82.46 million, also not a defaulting entity [7][8]. Group 5: Impact and Independence of Transactions - The expected related transactions are considered normal business activities, necessary for the company's operations, and do not affect the company's independence [10]. - The company maintains control over the transactions, ensuring that they do not create dependency on related parties [10].