Renrui Talent (06919) entered into a contractual arrangement with OPCO, and OPCO will be wholly-owned and listed

Zhitong Finance App News, Renrui Talent (06919) issued an announcement on July 15, 2026, Renrui Malaysia Services Sdn. Bhd. (RMS, an indirect wholly-owned subsidiary of the company), Agensi Pekerjaan Renrui Malaysia Sdn. Bhd. (OPCO) and Mr. Lim Teng Cherng (registered shareholder) entered into a contractual arrangement (contractual arrangement) with respect to OPCO.

The Group intends to operate a private employment brokerage business in Malaysia through OPCO. Renrui Human Resources Technology (Hong Kong) Limited (RHRT) was incorporated under Hong Kong law as a wholly-owned subsidiary of the Company. RMS was incorporated under Malaysian law and is a wholly-owned subsidiary of RHRT. According to the company's Malaysian legal adviser, in accordance with applicable Malaysian laws, rules and regulations, relevant license holders operating private employment brokerage business in Malaysia are required to hold at least 51% of the rights of Malaysian citizens. As a result, registered shareholders hold 51% of OPCO's statutory interests, while RHRT holds the remaining 49% of OPCO's statutory interests. Through contractual arrangements, RMS can exercise effective control over OPCO's finances, operations and management, and enjoy most of its economic benefits. Therefore, OPCO's financial results will be incorporated into the Group's financial statements, and OPCO will be recorded as a wholly-owned subsidiary of the Group.

RMS and OPCO entered into an exclusive management and consulting service agreement on July 15, 2026. According to this, OPCO agreed to appoint RMS (excluding any other person) as its exclusive service provider during the term of the agreement, and RMS agreed to provide comprehensive management and consulting services for OPCO's business.

In accordance with applicable local Malaysian laws and regulations, private employment brokerage services are governed by local regulations and restrictions. In view of such restrictions, and taking into account the Group's shareholding structure, it is not feasible for the Group to operate this business by directly holding OPCO shares. Accordingly, the Group has adopted contractual arrangements to obtain substantial control over OPCO and obtain the vast majority of economic benefits arising from it while complying with applicable regulatory requirements in Malaysia.

Contractual arrangements are essential to the Group's legal structure and business operations in the private employment brokerage business. These arrangements not only guarantee the continuity and scalability of the business, but also support the Group's development strategy. Through contractual arrangements, the Group is able to lead the activities that have the most profound impact on OPCO's economic performance; enjoy the economic benefits attributed to OPCO; incorporate OPCO's financial results into the Group's financial statements in accordance with applicable accounting standards when appropriate, and maintain the continuity and growth of the business.