Group 1 - The company, China Energy Storage Technology Development (01143), announced the acquisition of Circuit Development Limited for HKD 20.8 million, which is subject to adjustments [1] - The target company is registered in Hong Kong and primarily holds a property located at 2-12, Sha Tin Ao Bei Wan Street, 2nd Floor, D Room, with a total floor area of approximately 7,352 square feet [1] - The property is currently leased to the company's wholly-owned subsidiary, Telefield Limited, with a lease term from January 1, 2025, to December 31, 2025, at a monthly rent of HKD 56,000, excluding rates, government rent, and management fees [1] Group 2 - The acquisition is aimed at securing the usage rights of the property, thereby saving on office rental and relocation costs, while enhancing operational efficiency in the long term [1] - The board believes that the recent adjustments in property prices present a good opportunity for the company to acquire quality assets at an attractive price, which will strengthen its asset base and potentially lead to capital appreciation during future market recoveries [1]

Core Viewpoint - The company plans to acquire 100% of the issued share capital of Circuit Development Limited for HKD 20.8 million, which is expected to enhance operational efficiency and secure property usage rights amid rising rental costs [1] Group 1: Acquisition Details - The buyer, Telefield Holdings Limited, is a wholly-owned subsidiary of the company [1] - The target company, Circuit Development Limited, is registered in Hong Kong and primarily holds a property located at 2-12 Back Bay Street, Sha Tin, New Territories, Hong Kong, with a total floor area of approximately 7,352 square feet [1] - The property is currently leased to Telefield Limited, with a lease term from January 1, 2025, to December 31, 2025, at a monthly rent of HKD 56,000, excluding rates, government rent, and management fees [1] Group 2: Strategic Rationale - The acquisition is seen as a strategic move to secure the property usage rights, thereby saving on office rental and relocation costs [1] - The board believes that the recent adjustments in property prices present a good opportunity to acquire quality assets at an attractive price, which could strengthen the company's asset base and potentially lead to capital appreciation during future market recoveries [1]