According to the Zhitong Finance App, Medis Skin (08307) announced that on May 21, 2024, the tenant Medicskin Laboratories Limited (Medicskin Laboratories Limited) (an indirect wholly-owned subsidiary of the company) and the lessor Harbour City Real Estate Co., Ltd. (as an independent third party) entered into a lease agreement to renew the leasing property to be used as one of the Group's medical skin care centers in Hong Kong from September 1, 2024 to August 31, 2027 (including the first and last two days). The property is Room 1201 (12th floor), Ocean Centre, Harbour City, Tsim Sha Tsui, Kowloon.

The Group has been leasing the property as its medical skin care center since September 1, 2012. When evaluating options to renew the existing lease or rent a new centre, the directors considered that the property was located in a popular shopping area in Tsim Sha Tsui. The location was convenient, and the Group and potential customers could easily reach it by public transport. The renewal of the lease agreement maintains the Group's prime location in Hong Kong.

The terms of the tenancy agreement (including rent) are determined after fair negotiation between the lessor and the lessee and taking into account current market rents for properties of similar types, ages and locations. The lease agreement is necessary for the Group to continue operating its business for medical skin care center use, and is part of the Group's daily and general business process. After considering the above reasons and benefits, the board of directors therefore believes that the terms of the lease agreement are based on normal commercial terms, are fair and reasonable, and conform to the overall interests of the company and its shareholders.