IMPRESSION DHP (02695) signed a cooperation agreement and terminated the entrusted management agreement with Wuyishan Chenjing and Wuyishan Chunhejingming.

IMPRESSION DHP (02695) announced that in October 2020, IMPRESSION DHP Culture signed a "Impression Tianjie (Impression Jianzhou) Project Cooperation Agreement" with Fujian Chun Tian. Based on the original cooperation agreement and its investment, Fujian Chun Tian obtained the rights to the assets related to Impression Jianzhou and the right to operate cooperatively. Considering the operational results of Fujian Chun Tian, IMPRESSION DHP Culture has terminated the original cooperation agreement with Fujian Chun Tian and repurchased the relevant assets of Impression Jianzhou from Fujian Chun Tian. The company has selected a new partner for the Impression Jianzhou project through the bidding process, Yipeng Orbit. Yipeng Orbit will be responsible for the redevelopment and transformation of the Impression Jianzhou project and jointly establish a project company with its affiliated company Shanghai Bize to operate the Impression Jianzhou project. On June 16, 2026, IMPRESSION DHP Culture signed an operating cooperation agreement with Wuyishan Chenjing and Wuyishan Chunhe Jingming. Therefore, during the term of the agreement, IMPRESSION DHP Culture will exclusively entrust the operation and management of the Impression Jianzhou project to Wuyishan Chenjing. The tea spa hotel of the group is managed by the company's subsidiary, Wuyishan Tea Spa Resort Co., Ltd. It has signed a commission management agreement and multiple supplemental agreements with the independent third-party Fuzhou Tairan Health Management Group Co., Ltd. (Tairan) (collectively referred to as the "Tea Spa Management Arrangement"). During the cooperation period, Tairan fulfilled its obligations under the Tea Spa Management Arrangement, and there were no breaches by either party. However, due to lower-than-expected operational results of the tea spa hotel and disagreements in key aspects such as development strategy, operational concept, business strategy, market positioning, and cost control, both parties signed a termination agreement on February 25, 2026, agreeing to terminate the Tea Spa Management Arrangement from February 28, 2026, and complete the handover arrangements during the transition period. Currently, the tea spa hotel is operated independently with the assistance of Wuyishan Xiju Hotel Management Co., Ltd. (an independent third-party hotel management company).