Zhitong Financial APP News, Zhaojun International (01355) announced that on December 24, 2021, Shenzhen Jiaojun, an indirect wholly-owned subsidiary of the company, entered into a letter of intent with Shenzhen Zhaohua, which can lease properties under development in Shenzhen, China, to Shenzhen for accommodation and operation. The initial period is 15 years.

These properties are adjacent to some parts of the properties under development at the Shenzhen International Convention and Exhibition Centre and are expected to have a rentable area of about 10,000 square metres.

According to the announcement, the group intends to expand the coverage of its accommodation business and has been exploring suitable locations. As these properties will be built near Shenzhen International Convention and Exhibition Centre and Shenzhen Baoan International Airport, the company considers that the possible lease of new these properties is a good opportunity to expand the accommodation business.