Sinomax Group Expands Lease Agreement Terms

Sinomax Group Ltd. (HK:1418) has released an update.

Sinomax Group Ltd. has expanded its lease agreement with Dongguan Donglian, leasing additional premises for three months starting October 2024, at a monthly rent of approximately HK$387,692. The supplemental agreement is considered connected due to common ownership and is aggregated with the original lease for regulatory purposes. The arrangement is recognized as an expense rather than a right-of-use asset due to the short lease term, and it does not require shareholder approval but must be reported under the Listing Rules.

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