According to the Zhitong Finance App, AEON (00984) announced that on January 26, 2024, AEON Guangdong, a non-wholly-owned subsidiary of the company, received a transaction notice. As the tenant and lessor (as lessor), they reached a lease agreement to lease the premises through an open market transaction. The lease period is 11 years and 3 months from the start date of the lease. AEON Guangdong leases the property to the lessor to operate its retail business. The parties will sign a lease agreement based on this.
According to reports, the site is located in self-built shop B201 on the 2nd basement floor of Canton Tower Plaza, No. 8, Guangzhou Tower Road, Haizhu District, Guangzhou, Guangdong Province, China.
The Group's main business is to operate retail business in Hong Kong and China through chain stores named “AEON STYLE”, “AEON” and “AEON SUPERMARKET”. Due to the nature of its retail business, the Group is required to enter into leasing agreements from time to time to rent retail stores. Each retail store, especially large stores similar to this one, helps and maintains the Group's operating scale, which in turn helps the Group reduce overall operating costs, strengthen the Group's ability to discuss with its business partners, and expand its store network and market share.