Gelonghui, May 10 | Global Digital Creative (08271.HK) announced that on May 10, 2024, Global Digital Media Technology Research (Shenzhen), an indirect wholly-owned subsidiary of the company, signed an operating agreement with Chengdu. Based on this, Global Digital Media Technology Research (Shenzhen) was granted the right to operate Tiefo Park during the operation period.
According to Hong Kong Financial Reporting Standard No. 16, the operating rights of the Tiefo Park project will be recognized as right-of-use assets. As assessed by independent valuer Rome International Appraisal Co., Ltd., the value of the right-to-use assets represented by the operating rights of the Tiefo Park project is RMB 5.997 million. This value is calculated based on the present value of the total lease payments to be paid under the Hong Kong Financial Reporting Standard No. 16 and by reference to the operating agreement.