According to Zhitong Finance App, Zhisheng Group Holdings (08370) announced that on February 1, 2024 (after the trading period), Shangcheng Smart Home (Dongguan) Co., Ltd. (a limited company established in China and an indirect non-wholly-owned subsidiary of the company) (as a tenant) and Guangdong Xinbix Industrial Co., Ltd. (as an independent third party) (as lessor) entered into a plant lease agreement for a period of ten years (including the first two days) from February 1, 2024 to January 31, 2034. The property will be handed over before February 3, 2024, and will be rent-free from February 1, 2024 to March 15, 2024.

According to reports, the property is Jingshan Industrial Park (industrial land). The plot numbers are DN-10, DN-12, dormitories, security rooms, electric rooms, and associated vacant land.

The announcement stated that since the property is suitable for operation and can provide sufficient space for the Group to expand its business and/or relocate to other businesses operated by the Group in other leased properties, it is beneficial for the Group to use the property for its own use in its general business operations. Plant lease agreements are concluded in the general daily business process of the Group.