Gelonghui (01355.HK) announced on December 24th that on December 24th, 2021,Indirect wholly-owned subsidiary of the companyShenzhen Zhaohua has entered into a letter of intent with Shenzhen Zhaohua, under which Shenzhen Zhaohua can lease properties under development in Shenzhen, China ("These properties"), which is used for accommodation and operation.
These properties refer to certain parts of the properties under development adjacent to the Shenzhen International Convention and Exhibition Centre with an estimated rentable area of about 10,000 square metres.
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.