CNE TECH CORP (00611.HK): Indirect wholly-owned subsidiary to lease Shenzhen Nanshan office property for three years, right-of-use asset of approximately RMB 5.25 million to be recognized
NewTimeSpace News: On 1 September 2026 (after trading hours), China Nuclear Energy Technology Corporation Limited (stock code: 00611) announced that its indirect wholly-owned subsidiary Jianhe Financial Leasing (Shenzhen) Co., Ltd., as lessee, entered into a lease agreement with China Nanshan Development (Group) Incorporation, as lessor, for the leasing of the property for office use, for a term of three years from 1 September 2026 to 31 August 2029.
The property is located at Room 2502, 25/F, Nanshan Development Group Chiwan Headquarters Building, No. 8 Chiwan Sixth Road, Chiwan Community, Zhaoshang Subdistrict, Nanshan District, Shenzhen, with a total gross floor area of approximately 1,083.26 square meters. The monthly rent is RMB 166,063.76 (tax inclusive), to be funded by the Group's internal resources, and was determined after arm's length negotiation among the parties with reference to the gross floor area of the property, prevailing market conditions and the prevailing market rental rates of comparable offices in the vicinity. The first month's rent is payable within five days after the execution of the agreement, with subsequent monthly rent payable on or before the tenth calendar day of each month, and rent for an incomplete month calculated pro rata on actual days. No rent-free period is provided, and a deposit equivalent to two months' rent, amounting to RMB 332,127.52, is payable within five days after execution. Under Hong Kong Financial Reporting Standard 16, the Group will recognize a right-of-use asset under the lease with an aggregate value of approximately RMB 5,254,992.29.
China Nanshan is the holding company of Nanshan Holdings (Shenzhen New Nanshan Holdings (Group) Co., Ltd., listed on the Shenzhen Stock Exchange, stock code: 002314), a substantial shareholder of the Company. China Nanshan is therefore an associate of Nanshan Holdings and a connected person of the Company, and the lease constitutes a connected transaction under Chapter 14A of the Listing Rules. As the highest applicable percentage ratio (calculated on the basis of the value of the right-of-use asset to be recognized by the Company) exceeds 0.1% but is below 5%, the lease is subject to the reporting and announcement requirements but exempt from the circular and independent shareholders' approval requirements. The Directors (including the independent non-executive directors) consider that the transaction was entered into in the ordinary and usual course of business on normal commercial terms or better, and that the terms are fair and reasonable and in the interests of the Company and its shareholders as a whole.
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