BEST PACIFIC (02111): Dongguan Chaoying and Qunli signed a leasing agreement.

BEST PACIFIC (02111) announced that on February 28, 2025, Dongguan Chaoying (as the lessee) entered into leasing agreements for Building A and B as well as Building C and D with Qunli (as the lessor). Qunli has agreed to lease Building A and B as well as Building C and D to Dongguan Chaoying from February 28, 2025, to February 27, 2028, for a period of 3 years. Building A and B are two factory buildings with a total leased area of approximately 9040 square meters, located in Xinshagang Industrial Park, Mayong Town, Guangdong Province, China. Building C and D are two factory buildings with a total leased area of approximately 8712.2 square meters, also located in Xinshagang Industrial Park, Mayong Town, Guangdong Province, China. Due to the business growth and expansion of the group, more space is needed for production and warehouse purposes. Considering the proximity of the properties to Dongguan Chaoying's production factories, the board of directors believes that leasing the properties will facilitate the efficient transportation of goods and materials, as well as easy access to the production factories. To support the operation of the group, the board of directors considered the group's continuous demand for space for production and warehouse purposes, and found the properties suitable for the group's production factories and warehouses. Therefore, Dongguan Chaoying entered into leasing agreements for Building A and B as well as Building C and D with Qunli for a lease term of 3 years to support the operational needs of the group. Furthermore, the leasing agreements ensure the rental amount that Dongguan Chaoying should pay in the midterm, thereby avoiding rental increases due to the expected appreciation of the leased properties.