Gelonghui, April 12, 丨 Premium 360 (02360.HK) announced that on April 12, 2024, Caiou International (a wholly-owned subsidiary of the Company) and Lin Xiaoxin signed a three-year lease on Stanley New Street from April 22, 2024 to April 21, 2027 (including the first and last two days).
According to Hong Kong Financial Reporting Standard No. 16 “Lease”, the Group is required to confirm additional assets to reflect its right to use Stanley New Street properties. Therefore, for the purposes of listing rules, entering into a Stanley New Street lease and carrying out proposed transactions under it will be regarded as an asset acquisition of the Group. The variable turnover rent under the Stanley New Street lease will be recognized as a group expense based on the tenure of the Stanley New Street lease.