This has been reported for possibly being unreliable fact/source. Israeli source claiming it already happened: https://www.timesofisrael.com/iran-and-saudi-arabia-hold-joint-naval-exercise-in-sea-of-oman/

China did broker a peace/reconcilliation between KSA and Iran earlier this year. At the same time, US has promised KSA nuclear weapons if it stays onside with Israel’s genocide more recently, even as it pretends to advance ceasefires that KSA positions to support.

KSA’s alignment is not 100% to US empire any more, even if this announcement embarasses the empire.