DISTINCT HEALTH (02677.HK): Wholly-Owned Subsidiary Enters Five-Year Office Lease with Related Party, Right-of-Use Asset of Approximately RMB 7.18 Million
NewTimeSpace News: On 13 August 2026, Distinct Healthcare Holdings Limited (stock code: 02677) announced that its wholly-owned subsidiary, Shenzhen Zhuozheng Ruixiang Management Consulting Co., Ltd. (as tenant), entered into a lease agreement with Shenzhen Qianhai Hengchang Technology Development Co., Ltd. (as landlord) for an office of approximately 2,496.14 sq.m. on the 4th floor of Qianhai Hengchang Technology Tower in Qianhai, Shenzhen, for a term of five years from 1 September 2026 to 31 August 2031.
Rent is RMB 174,729.80 per month with an eight-month rent-free period from 1 September 2026 to 31 August 2029, and RMB 183,466.29 per month with a four-month rent-free period from 1 September 2029 to 31 August 2031, together with a refundable deposit equivalent to two months' rent. The unaudited value of the right-of-use asset to be recognized under IFRS 16 is approximately RMB 7.18 million.
Qianhai Hengchang is an indirect subsidiary of Fund Resources Investment Holding Group Company Limited, which indirectly holds Waterwood DHC Project Ltd, a substantial shareholder of the Company, making Qianhai Hengchang a connected person. As the highest applicable percentage ratio exceeds 0.1% but is below 5%, the transaction is subject to reporting and announcement requirements but is exempt from the circular, independent financial advice and independent shareholders' approval requirements. The Group intends to relocate its China headquarters to accommodate business development and staff expansion.
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