On 21 December 2018, Jinmao (China) Hotel Investments and Management Limited renewed the China Jinmao Framework Lease Agreement with China Jinmao for a term of three years with effect from 1 January 2019 pursuant to which the company will provide certain leasing and related management services to China Jinmao in relation to office space in Jin Mao Tower, shop units and other property facilities owned by the Company; and (ii) China Jin Mao (Group) renewed the Sinochem Framework Lease Agreement with Sinochem Group for a term of three years with effect from 1 January 2019 pursuant to which China Jin Mao (Group) will provide certain leasing and related management services to Sinochem Group in relation to office space in Jin Mao Tower. Both China Jinmao and Sinochem Group (as the ultimate controlling shareholder of China Jinmao) are the controlling holders of the Share Stapled Units and are therefore connected persons of the Company under the Listing Rules. The transactions under the renewed Framework Lease Agreements will be aggregated in accordance with Rule 14A.82 of the Listing Rules. Since the highest of the applicable percentage ratios (other than the profits ratio) under the Listing Rules in respect of the annual caps for the transactions under the renewed Framework Lease Agreements will, on an annual basis, be more than 0.1% but less than 5%, these transactions when aggregated will constitute continuing connected transactions are only subject to the announcement and reporting requirements, but are exempt from the circular (including independent financial advice) and shareholders' approval requirements under Chapter 14A of the Listing Rules.