SF INTRA-CITY (09699.HK): RMB28.5M Cap for Unmanned Vehicle Leasing Deal

NewTimeSpace News: On 24 September 2026, Hangzhou SF Intra-city Industrial Co., Ltd. (stock code: 09699.HK) announced that Shenzhen IntelliLink, a wholly owned subsidiary of the Company, entered into the 2026 Unmanned Vehicle Leasing Framework Agreement with SF Taisen, pursuant to which Shenzhen IntelliLink (as the lessor) agreed to lease unmanned vehicles to SF Taisen and/or its associates (as the lessee). The Agreement is a framework agreement under which SF Taisen and/or its associates may lease unmanned vehicles from Shenzhen IntelliLink from time to time by placing specific leasing orders during its term, which runs from 24 September 2026 to 31 December 2026.

According to the announcement, rentals payable by SF Taisen will be settled on a monthly basis, calculated with reference to the applicable monthly unit rental of the relevant vehicle models, which varies by model and is mainly within the range of RMB1,500 to RMB5,000 per unit per month. The rentals payable by SF Taisen shall not be lower than the market price for comparable models offered to independent third parties. The annual cap for the transactions contemplated under the Agreement for the year ending 31 December 2026 is RMB28.5 million, determined by reference to the estimated number and mix of unmanned vehicles expected to be leased by SF Taisen and/or its associates over the entire leasing term and the expected monthly unit rentals of the relevant models.

As to the Listing Rules implications, SF Taisen is one of the controlling shareholders of the Company and is therefore a connected person; Shenzhen IntelliLink is a wholly owned subsidiary of the Company and therefore a member of the SF Intra-city Group. Accordingly, the transactions constitute continuing connected transactions under Chapter 14A of the Listing Rules. Given that the highest applicable percentage ratio is more than 0.1% but less than 5%, the transactions are subject to the reporting, annual review and announcement requirements under Rule 14A.76(2), but are exempt from the circular and independent shareholders' approval requirements.

The Company said Shenzhen IntelliLink is positioned as an unmanned vehicle operations platform company providing integrated solutions for unmanned vehicles and capacity services. The Agreement was entered into in the context of resource sharing and collaborative development between the SF Intra-city Group and the SF Group, and will introduce the SF Group as a baseline customer of Shenzhen IntelliLink, helping it secure a more favourable position in negotiations with upstream unmanned vehicle manufacturers to achieve economies of scale, and deepening cooperation in last-mile delivery. Mr. Geng Yankun, Ms. Li Juhua, Mr. Li Qiuyu and Mr. Sun Haijin abstained from voting on the relevant Board resolutions.

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.