Core Viewpoint - The company announced the termination of a lease agreement for a property in Guizhou, China, due to the inability to commence renovation work, which has prevented the sub-tenant from operating its department store [1] Group 1: Lease Agreement Details - The lease termination agreement involves Guizhou Shenchuan Baisheng Commercial Development Co., Ltd., Guizhou Longgang Commercial Operation Management Co., Ltd., and Guizhou Yuncui Property Management Co., Ltd. [1] - The lease agreement was originally set to terminate on March 29, 2024, but will take effect from November 30, 2025 [1] - The leased property is located at Longgang International Center, No. 117 Zhonghua Middle Road, Guiyang, Guizhou Province, covering the basement and the first to fourth floors [1] Group 2: Reasons for Termination - The board of directors determined that the inability to proceed with the renovation work is the primary reason for terminating the lease agreement [1] - As a result of the renovation delays, the sub-tenant has been unable to operate its department store in the leased property [1]
百盛集团附属终止物业租赁协议