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The latest update is out from Qingling Motors Co ( (HK:1122) ).
Qingling Motors has entered into a three-year lease with its controlling shareholder Qingling Group for office and R&D space at the Qingling Intelligent Connected New Energy Commercial Vehicle R&D Centre, covering about 7,958 square meters from 1 January 2026 to 31 December 2028. The annual rent is set at RMB1.85 million, payable quarterly, and was determined on normal commercial terms with reference to prevailing market rates and comparable properties.
As Qingling Group holds about 50.10% of Qingling Motors, the lease constitutes a connected transaction under Hong Kong listing rules and will be recognized as a right-of-use asset under HKFRS 16. The deal triggers reporting and announcement requirements but is exempt from circular and independent shareholders’ approval, streamlining compliance while securing key premises that support the company’s ongoing R&D and operations in new energy commercial vehicles.
More about Qingling Motors Co
Qingling Motors Co is a Sino-foreign joint venture joint stock limited company incorporated in the People’s Republic of China and listed in Hong Kong. The group operates in the commercial vehicle sector, with a focus on intelligent connected and new energy commercial vehicles, supported by dedicated R&D facilities to advance its product and technology capabilities.
Average Trading Volume: 3,140,052
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.41B
Learn more about 1122 stock on TipRanks’ Stock Analysis page.