On July 23, 2024, StarShine Commercial's indirect wholly-owned subsidiary, Shenzhen Xinghe Commercial Plaza Group Co., Ltd., signed a commercial property operation and management agreement with a subsidiary of a state-owned enterprise in Zhuhai (owner). The property covered by the agreement is a shopping center near the Gongbei Port in Xiangzhou District, Zhuhai City, Guangdong Province. StarShine Commercial will provide market positioning, design and architectural consultancy services, tenant solicitation services, and operation management services for the shopping center.
According to the agreement, the service period is from the date of the agreement until the opening of the shopping center, with a duration of 10 years and an option to renew for 5 years. The cost includes fixed fees for positioning, design and architectural consultancy services, the cost of successfully soliciting tenants before the opening, and the cost of operation management services calculated as a predetermined percentage of shopping center income and profit.
