SMC Electric Limited Renews Tenancy Agreements

SMC Electric Limited (HK:2381) has released an update.

SMC Electric Limited has renewed its tenancy agreements for factory spaces in Foshan City, China, effective from January 2025 to December 2026. The company, which is largely controlled by Shell Holdings, will recognize the rental payments as right-of-use assets, valued at approximately HK$6,968,000. This renewal is categorized as a connected transaction under the Hong Kong Stock Exchange rules, but it is exempt from certain approval requirements due to its scale.

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