Tianjin 58 Technology Co., an indirect wholly owned unit of GOGOX, on 1 April 2026 executed a Second Supplemental Property Lease Agreement with Beijing Swan Home, an indirect non-wholly-owned subsidiary of 58 Daojia. The amendment reduces the leased space in Beijing Cultural and Creative Building from 1,598.17 sqm to 701.59 sqm for the remaining term to 31 March 2028.
The revised contract sets total rent at RMB2.66 million (inclusive of VAT) over the two-year period. Preferential rates of RMB0.14 million per month will apply during two separate two-month windows—February-March 2027 and February-March 2028. From 1 April 2026, Beijing Swan Home assumes all administrative expenses for the third-floor premises, while GOGOX bears only printer and telecom costs; meeting rooms, pantry and other public areas will be jointly used.
Under IFRS 16, the lease change is treated as a modification, lifting the right-of-use asset by about RMB0.27 million. The connected-party nature of the deal—Beijing Swan Home is an associate of substantial shareholder 58.com—places the transaction within Chapter 14A of the Hong Kong Listing Rules. With the highest applicable percentage ratio exceeding 0.1 % but below 5 %, the agreement requires announcement but is exempt from circular and shareholder approval. Executive director Mr. He Song, holding an interest in 58 Daojia, abstained from the board vote.
Management stated that downsizing the office footprint aligns leased space with current operational needs, curbs under-utilisation and lowers monthly rental outlays without disrupting business functions, thereby improving cost efficiency and supporting profitability.
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