Gelonghui, January 2, 丨 Chaoying International Holdings (02111.HK) announced that on January 1, 2024, the company's indirect wholly-owned subsidiary Dongguan Chaoying (as tenant) signed a lease agreement with the lessor (Qunli Steel Enterprise Co., Ltd., wholly owned by Lu Yuguang). Based on this, the lessor agreed to rent the property to Dongguan Chaoying for a period of 33 months from April 1, 2024 to December 31, 2026. According to the lease agreement, Dongguan Chaoying is responsible for all property management fees and utility expenses (i.e. utilities) of the property. The lessor will collect from Dongguan Super Profit and pay such property management fees and utility expenses to the service provider on a monthly basis on its behalf. The property has a total leased area of about 11,020,000 square meters and is located at No. 138 Guangma Avenue, Mayong Town, Dongguan City.
On January 1, 2024, Dongguan Chaoying (as the seller, an indirect wholly-owned subsidiary of the company) entered into a sale agreement with Dongguan Yaoxin (as the buyer). According to this, Dongguan Chaoying agreed to sell, and Dongguan Yaoxin agreed to purchase assets at a total cost of RMB 11.8083 million (equivalent to approximately HK$1.334 million, including VAT relating to the sale). The assets to be sold under the sale agreement include photovoltaic power supply systems installed on the roofs of Phase 5, 6, and 7 of the Dongguan Chaoying Production Site and several factory buildings in Xinsha Port Industrial Park.
On January 1, 2024, Dongguan Chaoying (as the service recipient) also signed a photovoltaic power supply agreement with Dongguan Yaoxin (as the seller). According to this, Dongguan Chaoying agreed to purchase photovoltaic power from Dongguan Yaoxin and/or its contacts for a period of three years from January 1, 2024 to December 31, 2026. For the three fiscal years ending December 31, 2024, 2025, and 2026, the annual maximum amount of photovoltaic power charges that Dongguan Chaoying will pay under the PV power supply agreement is RMB 7.8 million, RMB 9.5 million, and RMB 11.4 million, respectively.