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The latest update is out from Shandong International Trust Corp. Class H ( (HK:1697) ).
Shandong International Trust has entered into new connected lease contracts with Lucion Asset, an indirect wholly owned subsidiary of its controlling shareholder Lucion Group, to rent office space and car parking at Tower A, Jinding Centre in Jinan. The leases, covering about 9,865.86 square meters of office area for corporate use, will result in the recognition of approximately RMB64.81 million in right-of-use assets, treated as an acquisition under accounting and listing rules.
Because Lucion Asset is a connected person, the aggregated housing and car park leases qualify as connected transactions under Hong Kong Listing Rules, triggering reporting and announcement obligations but exempting the company from issuing a circular and seeking independent shareholders’ approval. The move formalises and extends existing leasing arrangements with the controlling shareholder’s affiliate, clarifying the cost and asset implications for Shandong International Trust while keeping the transaction within a lower compliance threshold.
More about Shandong International Trust Corp. Class H
Shandong International Trust Co., Ltd. is a PRC-based financial services provider engaged in trust and related investment businesses, with its H shares listed on the Hong Kong Stock Exchange. The company operates under the control of Lucion Group, which holds a majority stake, and leverages group resources and assets to support its office and operational needs.
Average Trading Volume: 312,892
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.58B
Find detailed analytics on 1697 stock on TipRanks’ Stock Analysis page.