S.F. Holding board approves RMB 0.69 billion related-party logistics property lease renewals

Reuters03-12 21:11
S.F. Holding board approves RMB 0.69 billion related-party logistics property lease renewals

S.F. Holding’s seventh-session board held its third meeting by written vote and approved the renewal of property lease agreements between a wholly owned subsidiary and SF REIT’s wholly owned subsidiary. The renewed leases cover logistics properties in Hong Kong, Foshan, Wuhu and Changsha, with total rent of about CNY 0.69 billion. The resolution passed 5-0 with one director abstaining due to a related-party conflict. The company said the transaction constitutes a related-party transaction and was pre-reviewed by an independent directors’ committee.

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