Summary by Moomoo AI
Netlong Network Holdings Limited (Netlong) announced on April 24, 2024 that Fujian Netlong has entered into a three-year lease agreement with Fuzhou 851 to lease approximately 9,247.91 square meters of office space in the Civic Center. The annual rent for the lease agreement is RMB11.7 million, equivalent to approximately HK$12.9 million, and will be paid quarterly in advance five working days before the end of each quarter. Fuzhou 851 is wholly owned by DJM Holding Ltd., the shareholder of Netlong Holding Ltd., and DJM Holding Ltd. is wholly owned by the Executive Director Liu Dejian. Therefore, Fuzhou 851 is a related party of Netlong. UNDER THE LISTING RULES, THIS LEASE AGREEMENT CONSTITUTES A CONNECTED TRANSACTION, BUT AS THE APPLICABLE PERCENTAGE IS MORE THAN 0.1% BUT LESS THAN...Show More