AEON (00984) issued an announcement. On February 23, 2024, AEON Guangdong, a non-wholly-owned subsidiary of the company (made...
According to Zhitong Finance App, AEON (00984) announced that on February 23, 2024, AEON Guangdong (as tenant), a non-wholly-owned subsidiary of the company, and agent (Guangzhou Baixin Commercial Co., Ltd., as agent of the lessor Guangzhou Lisheng Trading Co., Ltd.) signed a lease agreement to lease the premises for a period of 12 years from the date of lease. AEON Guangdong leases the property to the lessor to operate its retail business. The total basic rent payable under the lease agreement during the term is approximately RMB 35.5 million (excluding management fees, other expenses and expenses).
According to reports, the site is a store on the first, first and second floors of No. 1293-1421 Airport Road, Baiyun District, Guangzhou, Guangdong Province, China. Both agents and lessors are wholly-owned subsidiaries of Guangdong Baixin Investment Group Co., Ltd.
According to the announcement, the Group's main business is to operate retail business in Hong Kong and China through chain stores named after the store names “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.