Sichuan Langsha Holding's (SHA:600137) unit, Zhejiang Langsha Underwear, agreed to lease a factory to Yiwu Xuhe Enterprise Management for six years, according to a Shanghai bourse filing on Tuesday.
The factory, which is located in Yiwu, China, has a total area of 12,663 square meters. It will be used as an office, as well as for production, warehousing, and e-commerce operations.
The Chinese underwear and knitted fabric manufacturer will grant a five-month rent-free period to Xuhe Enterprise. Rent will be around 2.7 million yuan annually until the lease ends on Dec. 31, 2031, the filing said.
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