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Yincheng Life Service Co., Ltd. ( (HK:1922) ) has provided an update.
Ruisen Life Service Co., Limited has entered into two tenancy agreements through its indirectly wholly owned subsidiary Yincheng Sports to lease Fitness Centre I and Fitness Centre II from related-party landlords Xicheng Real Estate Development and Huazhong Real Estate Development. Tenancy Agreement I covers Fitness Centre I, a 4,244.05 sq m property leased from 1 January 2024 to 27 October 2025 at a total rent of RMB3.95 million, while Tenancy Agreement II covers Fitness Centre II, a 6,344.9 sq m site leased from 1 January 2025 to 27 October 2025 at a total rent of RMB1.90 million; both premises are to be used as fitness centres. As the landlords are associates of controlling shareholder Mr. Huang, the deals constitute continuing connected transactions under Hong Kong’s Listing Rules and, when aggregated, trigger reporting, announcement and annual review requirements, but remain exempt from independent shareholders’ approval, clarifying regulatory treatment for these related-party leases and their impact on the group’s fitness operations.
More about Yincheng Life Service Co., Ltd.
Ruisen Life Service Co., Limited (stock code: 1922), incorporated in the Cayman Islands, operates through subsidiaries such as Yincheng Sports to provide fitness centre and related lifestyle services, leveraging leased facilities to serve its customer base in mainland China.
Technical Sentiment Signal: Sell
Current Market Cap: HK$363.3M
For an in-depth examination of 1922 stock, go to TipRanks’ Overview page.