Gelonghui June 15 丨Xinhua Joint Investment (08159.HK) announced that on June 15, 2023, Dongguan Huihuang Asia Union Technology Co., Ltd., a wholly-owned subsidiary of the company, entered into a lease with Dongguan Zhengyang Electronic Machinery Co., Ltd. (as the lessor) to lease such properties for industrial use for a period of four years from June 16, 2023 to June 15, 2027.

The properties include 20 dormitory units and ancillary facilities located on the 1st and 2nd floors of the factory building (1) and the 8th floor of Building 5 (2), Building 5, located at No. 8, Shahu 2nd Road, Shahu Village, Tangxia Town, Dongguan City, Guangdong Province, China (total construction area is 12,818.4 square meters, while the total area is 12,208 square meters).

According to the announcement, Brilliant Asia Federation plans to expand its business in fields such as electronics manufacturing and new energy equipment. To this end, Brilliant Asia Union will install surface mount technology and assembly functions and facilities to support increased manufacturing output and minimize manufacturing costs. The new facilities in these properties will be suitable for this business expansion. These properties also comply with the regulations for obtaining assessment and agency approval for buildings.

The production equipment, environmental conditions, etc. of the factory property currently used by Huihuang Asia Union as a factory building (located at No. 177, Hongye North Road, Tangxia Town, Dongguan City, Mainland China) have failed to meet the needs of the new business.