Summary by Moomoo AI
Jinjing Xinfeng Holdings Limited (“Jinjing Xinfeng”) announced that its wholly-owned subsidiary, Jing Yang International (Hong Kong) Limited, signed a Lease Agreement with the Government of the Hong Kong Special Administrative Region on 13 May 2024 to lease T2 and T3 Sites of Tuen Mun Environmental Park, New Territories for the development of retired power cell processing Business. The lease is for 20 years with an area of approximately 9,420 square meters and the first five years rent is HK$5,878,080 per year. In accordance with Hong Kong Financial Reporting Criterion No. 16, Jinjing Xin will confirm in its consolidated financial statements the use assets associated with the lease for an estimated amount of approximately HK$79.1 million. This transaction constitutes a disclosable transaction in accordance with Chapter 14 of the Listing Rules.