On June 12th, 2024, NVC Intl (02222.HK) announced that a conditional agreement was reached between the buyer ETI Solid State Lighting Inc (a wholly-owned subsidiary of the Company) and the seller Thurmon Tanner Logistics II Owner LLC, under which the buyer conditionally agreed to acquire and the seller conditionally agreed to sell the property for a price of USD 15.25 million.

The property is a newly developed rear-loaded warehouse facility located in an industrial park in Georgia, USA, with a total area of 111,103 square feet, of which 2,965 square feet are for office use. Given that the Company's current lease for its US warehouse facility in Illinois will expire in the next 12 months, and that the Company's majority of US customers are located in Georgia, the Company plans to relocate its warehouse from Illinois to Georgia to improve supply chain management and optimize costs. The Company expects that the acquisition and relocation of the warehouse facility will significantly reduce the average transportation time and distance for delivering goods to customers, thereby enabling the Group to deliver products to customers quickly and cost-effectively.