PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable to our Group by members of the Retained China Vanke Group and their respective associates annually in respect of the Value-added Services for each of the three years ending December 31, 2024: For the year ending December 31, In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical transaction amounts during the Track Record Period and the expected trend in terms of transaction amounts for the three years ending December 31, 2024; • the estimated revenue to be recognized in relation to the Value-added Services provided by us based on the existing contracts for the three years ending December 31, 2024; and • the expected size and number of the properties developed or used by members of the Retained China Vanke Group and their respective associates in respect of the Value-added Services for the three years ending December 31, 2024. The proposed annual caps under the Value-added Services Agreement for the three years ending December 31, 2024 remain stable because the transaction amounts are expected to be stabilized in the forthcoming three years. Leveraging our long-term cooperation relationship with the Retained China Vanke Group, the Retained China Vanke Group had well performed the relevant contractual obligations at fair and reasonable prices in previous transactions. Given the Retained China Vanke Group’s leading position and considerable market share in the real estate development industry in the PRC, our cooperation with the Retained China Vanke Group by entering into the Framework Value-added Services Agreement could result in (i) satisfaction of synergy effect of the real estate development business of the Retained China Vanke Group and their respective associates and (ii) reduction of communication and transaction costs for our Group, and enables us to ensure a stable source of income and also improve our competitiveness in providing consistent and high-quality value- added services to other customers of our Group. Our Directors believe that entering into the Framework Value-added Services Agreement and the terms thereof are fair and reasonable, and are in the interests of our Shareholders as a whole.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. Having considered the factors set out below, the Directors propose that the annual cap for the Master Agreement for each of FY2021, FY2022 and FY2023 shall be RMB55,500,000. The Directors have considered a number of factors including:
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected (i) maximum service fees payable to our Group by members of the Retained China Vanke Group and their respective associates annually in respect of the Property Agency Services; and (ii) the maximum daily balance of the Deposits for each of the three years ending December 31, 2024: In arriving at the above proposed annual caps of service fees, our Directors have considered, among others, the following factors: • the historical transaction amounts and growth trend during the Track Record Period; • the expected rate of service fees to be charged by our Group for to the Property Agency Services in respect of the residential and commercial property units with reference to prevailing market rates for the three years ending December 31, 2024; • the estimated Pre-determined Minimum Sale Price and the estimated prevailing market prices of the aggregate carpark space expected to be sold under the Property Agency Services during each of the three years ending December 31, 2024 with reference to the size, location, market conditions and positioning of such carpark space; and • the estimated annual increase rate of the business volume of agency services with respect to unsold new homes under the Property Agency Services for the three years ending December 31, 2024 with reference to (i) historical increasing trend in the corresponding transaction amounts during the Track Record Period, (ii) our Group’s plan of continuous development of agency services with respect to unsold new homes in the near future, and (iii) the prolonged sale cycle of the overall PRC residential real estate market due to, among others, the recent regulatory and governmental policy changes. Taking into account (i) our continuous development and promotion of our agency services with respect to unsold new homes under the Property Agency Services, and (ii) the estimated growth in the business volume of our agency services in relation to unsold new homes under the Property Agency Services in the future, the proposed annual caps of the service fees under the Property Agency Services are expected to be higher than the historical amounts during the Track Record Period and have annual increases for the three years ending December 31, 2024. In arriving at the above proposed maximum daily balance of the Deposits, since our Group currently intends to focus more resources on our agency services with respect to unsold new homes under the Property Agency Services and wi...
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable by our Group to members of the Retained China Vanke Group and their respective associates annually in respect of the Property Lease for each of the three years ending December 31, 2024: For the year ending December 31, In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical rental amounts in respect of the Property Lease during the Track Record Period; • the terms and conditions, in particular, the rentals, under the existing lease agreements; • the expected increase in our demand for the Property Lease for the three years ending December 31, 2024; and • the expected increment in rental of the property to be leased by our Group under the Property Lease for the three years ending December 31, 2024. The increase in the proposed annual caps under the Property Lease as compared to the historical amounts during the Track Record Period and the annual increase in the proposed annual caps for the three years ending December 31, 2024 are primarily due to our Group’s expansion and re-location plan of our offices which would require additional office spaces, and the expected increase in rentals for the existing properties under the Property Lease for the three years ending December 31, 2024.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable by our Group to members of the Retained China Vanke Group and their respective associates annually in respect of the Property Lease for each of the three years ending December 31, 2024: For the year ending December 31, In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical rental amounts in respect of the Property Lease during the Track Record Period; • the terms and conditions, such as the size of leasing area and the rentals, under the existing lease agreements; and • the expected increase in the size of our Group’s office space for the two years ending December 31, 2023 and 2024 due to our Group’s business expansion. The increase in the proposed annual caps under the Property Lease as compared to the historical amounts during the Track Record Period and the annual increase in the proposed annual caps for the three years ending December 31, 2024 are primarily due to our Group’s expansion of our offices resulting from our increasing demand for office space having considered the expected expansion of our business scale for the three years ending December 31, 2024.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable to our Group by members of the Retained China Vanke Group and their respective associates annually in respect of the Property Agency Services for each of the three years ending December 31, 2024: For the year ending December 31, 320,000 418,000 541,000 In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical transaction amounts and growth trend during the Track Record Period and the estimated growth rate for the three years ending December 31, 2024; • the estimated revenue to be recognized in relation to the Property Agency Services provided by us based on the existing contracts for the three years ending December 31, 2024; • the expected commission rate to be charged by our Group in relation to the Property Agency Services of the property units to be sold for the three years ending December 31, 2024; • the expected pre-determined minimum sale price and the expected prevailing market prices of the carpark space to be sold under the Property Agency Services for the three years ending December 31, 2024; and • the estimated size of the unsold property units and the estimated number of the carpark space to be sold under the Property Agency Services for the three years ending December 31, 2024. The expected increase in the proposed annual caps under the Property Agency Services as compared to the historical amounts during the Track Record Period is primarily due to our Group’s expected increase in service volume of the Property Agency Services as we will continue to devote more resources and efforts into the Property Agency Services.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable to our Group by members of the Retained China Vanke Group and their respective associates annually in respect of the Property Services for each of the three years ending December 31, 2024: For the year ending December 31, 936,000 1,078,000 1,244,000 In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical transaction amounts and growth trend during the Track Record Period and the estimated growth rate in terms of transaction amounts for the three years ending December 31, 2024; • the estimated revenue to be recognized in relation to the Property Services provided by us based on the existing contracts for the three years ending December 31, 2024; • the expected increase in the size and number of the undelivered residential properties developed by members of the Retained China Vanke Group and their respective associates in respect of the residential property services for the three years ending December 31, 2024; and • the expected increase in the size and number of the commercial properties owned or used by members of the Retained China Vanke Group and their respective associates in respect of the property and facility management services for the three years ending December 31, 2024. The increase in the proposed annual caps under the Framework Property Services Agreement as compared to the historical amounts during the Track Record Period was primarily due to the expected increase in the business volume of the Property Services for the three years ending December 31, 2024.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the expected maximum fees payable to our Group by members of the Retained China Vanke Group and their respective associates annually in respect of the Property Services for each of the three years ending December 31, 2024: For the year ending December 31, 936,000 1,078,000 1,244,000 In arriving at the above proposed annual caps, our Directors have considered, among others, the following factors: • the historical transaction amounts and growth trend during the Track Record Period; • the estimated revenue to be recognized in relation to the Property Services to be provided by us based on the existing contracts for the year ending December 31, 2022; and • the estimated annual increase rate of the size and number of (i) the undelivered residential properties developed by members of the Retained China Vanke Group and their respective associates in respect of the residential property services and (ii) the commercial properties owned and/or used by members of the Retained China Vanke Group and their respective associates in respect of the property and facility management services for the three years ending December 31, 2024, with reference to (i) historical increasing trend in the corresponding transaction amounts during the Track Record Period and (ii) the prolonged sale cycle of the overall PRC real estate market due to, among others, the recent regulatory and governmental policy changes. The increase in the proposed annual caps under the Framework Property Services Agreement as compared to the historical amounts during the Track Record Period was primarily due to the expected increase in (i) the number of residential properties to be developed by members of the Retained China Vanke Group and their respective associates; and (ii) the number of commercial properties owned and/or used by members of the Retained China Vanke Group and their respective associates under the Property Services for the three years ending December 31, 2024.
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The following table sets forth the proposed annual caps under the Framework Agreements, respectively: Proposed Annual Caps For the year ending 31 December 2021 For the year ending 31 December 2022 For the year ending 31 December 2023 (RMB) (RMB) (RMB) Landscape Services Framework Agreement 200,000,000 300,000,000 400,000,000 Decoration Services Framework Agreement 200,000,000 300,000,000 400,000,000 In considering the proposed annual caps of the Landscape Services Framework Agreement, the Directors have taken into account the following factors:
PROPOSED ANNUAL CAPS AND BASIS FOR DETERMINATION. The payments made by the Company or via the person designated by the Company (including a subsidiary of the Company) with its own funds to BVI Holding Company for each financial year ending 31 December during the term of the Agreement shall not exceed HK$90 million. In estimating the proposed annual caps under the Referable Amount Framework Agreement, the Company has mainly taken into account the following factors: (i) the maximum limit of Restricted Shares under the Restricted Share Award Scheme, which represents 3.5% of the total issued Shares as at the date of approval and adoption of the Restricted Share Award Scheme by the Board; (ii) the share price performance of the Company since its listing; (iii) the estimated value of Restricted Shares under the Restricted Share Award Scheme; (iv) the estimated number and value of the Shares to be purchased under the Restricted Share Award Scheme during each financial year across the term of the Referable Amount Framework Agreement; and (v) the volatility of the share price and necessary transaction costs. In the event that, in the future, as required by the Restricted Share Award Scheme and actual needs, the Company will make the payments to BVI Holding Company in excess of the above proposed annual caps for purchasing Shares to be granted or expenditures so required, the Company will fulfill its compliance obligations in accordance with all applicable requirements under the Listing Rules in due course. The Company confirms that, from 8 July 2024 (being the date of the grant of Restricted Shares) to the date of this announcement, the Company has not made any relevant payments to or entered into any transactions with the Trustee or BVI Holding Company.
