On July 10, Golonghui announced that on July 10, 2024, the tenant (an indirectly wholly-owned subsidiary of the company, as the tenant), the company (as the guarantor), and the landlord (as the landlord) entered into a lease agreement for the property, for a period of three years from July 10, 2024 to July 9, 2027 (including both days), for the building at No. 4, Banzhangtang Street, Macau.
The group's main business includes apparel retail. Due to the nature of its retail business, the group needs to enter into lease agreements for retail stores from time to time. Each retail store (especially large ones like this property) contributes to and maintains the group's business scale, thereby helping the group reduce overall operating costs, enhance its negotiation skills with business partners, and expand its store network and market share.