Zhejiang Leapmotor Technology Extends Lease Contract with Hangzhou Xintu, Other Agreements

MT Newswires Live2024-12-26

Zhejiang Leapmotor Technology (HKG:9863) agreed to renew its lease of certain office spaces, storage space, and parking spaces in Hangzhou, China, with Hangzhou Xintu Technology for another three years, a Tuesday Hong Kong bourse filing said.

The property includes office spaces with a gross floor area of 26,000 square meters and is located at No. 451, Wulianwang Street, Xixing Street, Binjiang District, Hangzhou.

The new lease agreements' three-year term will start on Jan. 1, 2025.

The annual rental fee for the property is set at 20.5 million yuan while the management fee for the property is set at 11.2 million yuan for each of the three years of the new lease term. The rental fees for the parking spaces are expected to be at most 800,000 yuan for each of the three years.

Zhejiang Leapmotor Technology also renewed its services procurement framework agreement with Zhejiang Dahua Zhilian for a further three years to continue outsourcing its veneer processing and assembly.

The company has also agreed to continue purchasing certain types of camera and radar assemblies from Zhejiang Huaruijie Technology throughout 2025 and sell battery packs and other components to Zhejiang Hyxi Technology for another two years, beginning Dec. 24, 2024.

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