JIAHUA STORES H (00602) issued a statement, as previously announced and disclosed in the circular, the tenant (a wholly-owned subsidiary of the company...
According to the announcement and circular disclosed earlier, JIAHUA STORES H (00602) announced that the tenant (a wholly-owned subsidiary of the company) has entered into a long-term lease agreement with the independent owner for leased properties to operate group retail stores, with a lease term until July 14, 2039.
Since opening, the retail store has consistently underperformed, resulting in ongoing monthly operational losses. For the above reasons, the tenant and the independent owner have successfully found a new tenant to rent the retail space, thus a termination agreement signed on January 3, 2025, will terminate the long-term lease agreement.
The property is several retail spaces located at No. 4033, B1 Floor, Jiangnan Times Plaza, B1–28/B1–29/B1–30, Beixuegang Avenue, Bantian Street, Longgang District, Shenzhen, Guangdong, China, with a total area of 4,157 square meters.