Zitong Financial App News, Quick Global Holdings (00540) announced that Dongguan Quick (as lessee) and Dongguan Tianai (as lessor) have entered into Dongguan Lease Agreement on December 29th, 2021, and Gaoye Huizhou (as lessee) and Dongguan Tianai (as lessor) have entered into Dongguan Lease Agreement II for a period from January 1, 2022 to December 31, 2022, these agreements constitute continuing connected transactions.
The directors consider it necessary to renew the agreement to enable the Group to continue to use the relevant properties. As certain subsidiaries of the Group have been using the properties in the past, the Directors consider that it is in the interests of the Group in terms of cost, time and stability to enter into the above renewed continuing connected transaction Agreement instead of identifying and transferring to other properties. The Directors further consider that the conclusion of the Dongguan Lease Agreement and Dongguan Lease Agreement II can provide some subsidiaries of the Group with stable and necessary factory and hostel properties.