China State Construction Development Holdings Limited announced that reference is made to the announcement dated 24 March 2021 jointly issued by the China Overseas Grand Oceans Group Limited, China State Construction International Holdings Limited and China State Construction Development Holdings Limited in relation to, among other things, the Existing Framework Agreement entered into between the Company and CSCD. The Existing Framework Agreement will expire on 30 June 2024. The Directors expect that the Group will continue to engage the CSCD Group to provide the Services through the tender process conducted by the Group.

In this connection, on 26 April 2024, the Company and CSCD entered into the Renewal Framework Agreement for a term of three years commencing from 1 July 2024 and ending on 30 June 2027 subject to the Caps. Pursuant to the Renewal Framework Agreement, the parties agreed that: the Group may invite the CSCD Group to participate in the standard and systematic tendering procedures by which the Group will select and appoint a service provider for the provision of Services to the Group; any member of the CSCD Group may provide Services to the Group, subject to the Caps; and the contract amount in respect of the Services payable by the Group to the CSCD Group will be settled pursuant to the payment terms set out in the specific contracts. The estimated total contract sums of the Services required by the property development projects of the Group in PRC for which the Group may invite the CSCD Group to participate in the competitive tenders during the term of the Renewal Framework Agreement.