03:03 AM EDT, 09/07/2021 (MT Newswires) -- Sun Hing Printing (HKG:1975) signed a tenancy agreement to rent a 65,271-square-meter industrial property in China's Guangdong province for 10 years starting Sept. 18.
The printing service provider will pay an annual rent of 14.9 million yuan ($2.3 million) in the first three years, 17.1 million yuan from year four to year six and 19.7 million yuan from the seventh year onwards.
Sun Hing will use the property as its new production base as the lease for its Shenzhen factory is set to expire in March 2022.
The stock rose nearly 3% in recent trade.
Price (HKD): $0.79, Change: $0.02, Percent Change: +2.60%