According to Zhitong Finance App, Fengdeli Holdings (00571) issued an announcement. On November 12, 2026, the tenant Shenghui Development Co., Ltd. (an indirect wholly-owned subsidiary of the Company) and the owner Youyicheng (2011) Co., Ltd. (an independent third party) entered into a lease agreement for these properties. The lease period will be 36 months starting May 1, 2027. These properties will be used for the Group's theatre operations and related business.
These properties are part of the L1A, L2 and L2A levels in Another City.
These properties are located in Another City, directly connected to the Kowloon Tong MTR Station, and are one of the most popular shopping and leisure spots in Hong Kong. The Group has been operating Festival Grand Cinema in Another City since June 2016. Since the landlord plans to implement asset optimization measures for the area currently occupied by Festival Grand Cinema in another city, the existing property will be vacated after the expiration of the existing lease agreement between the owner and another subsidiary of the Company expires in January 2027. Given the strategic location of Daoyicheng, the Group's management believes that entering into a lease agreement with the owners for these new properties will benefit the Group's theatre operations. It is expected that Festival Grand Cinema will be reopened with a new look after the owners' asset optimization plan for Daoyicheng has been completed, thereby maintaining and enhancing its market position as a major multi-hall theatre operator in Hong Kong.