Gelonghui August 14?Beijing Investment Transportation Technology (01522.HK) announced that on August 14, 2023, the company's indirect non-wholly-owned subsidiary, Lemax (as tenant), entered into a lease contract with Traffic-controlled Silicon Valley Technology (as landlord) in relation to the leasing of properties from Traffic-controlled Silicon Valley Technology. The property is locatedIt is part of the 7th floor of Building 3, No. 3 Zhicheng North Street, Fengtai District, Beijing, China, with a total floor area of about 1055.71 square meters.
The Directors are of the view that (I) with the continuous development of its business, its office space is no longer able to meet the growing office demand; (ii) the property is geographically located in the rail transit industry cluster area, which meets the needs of the development of Lomax; and (iii) the leasing contract enables the Group to expand its business in high-quality commercial lots in Beijing without significant cost, which is a rare opportunity.