Tong Ren Tang Technologies (1666) Announces Renewed Land Use Right Leasing Agreement with Tong Ren Tang Holdings

Bulletin Express11-28

Tong Ren Tang Technologies Co. Ltd. (Stock Code: 1666) announced a new land use right leasing agreement with its ultimate controlling shareholder, China Beijing Tong Ren Tang Group Co., Ltd. (Tong Ren Tang Holdings). The renewed arrangement covers the land located at No. 20, Nansanhuan Zhonglu, Fengtai District, Beijing, with a total site area of 43,812.949 square meters.

Under the agreement, effective from 6 October 2025 to 5 October 2028, the annual rent is set at RMB9,281,600, subject to possible adjustment based on national policies. A security deposit of RMB698,000 is required. In case of breach by either party, a daily penalty of 0.3% of the annual rent applies, capped at RMB300,000. According to valuation by an independent professional valuer, the unit rent was referenced at RMB0.58 per square meter per day.

In compliance with IFRS 16 requirements, Tong Ren Tang Technologies Co. Ltd. will recognize the lease as a right-of-use asset. The value of this asset is approximately RMB24,284,173.37 as of 28 November 2025. Given that one or more applicable percentage ratios exceed 0.1% but are all less than 5%, this connected transaction is subject to reporting, announcement, and annual review requirements under the Hong Kong Listing Rules, but does not require independent shareholders’ approval. Three directors with management ties to Tong Ren Tang Holdings abstained from voting on the related resolutions.

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