According to the Ginza Co., Ltd., a subsidiary of the company, Weihai Hongtu Trading Co., Ltd. and Weihai Happy Home Furnishing Co., Ltd. renewed the “Lease Contract” to rent their own property located at No. 1 Shichang Avenue in Weihai City with a construction area of 68,354 square meters to each other for commercial operation. The rental period is fixed and floating rental fee calculation method, including tax of 3.5 million yuan/year. The floating portion is divided by 4:6 of the total profit of the lessee's corresponding business entity. This transaction constitutes a related transaction, does not constitute a major asset restructuring, and does not need to be submitted to the shareholders' meeting for consideration.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.