---
title: "GGITG's subsidiary plans to lease commercial real estate from related parties to invest in the construction of Zhangye GGITG Plaza"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/246256253.md"
description: "GGITG's wholly-owned subsidiary, Lanzhou Guofang, plans to sign a lease agreement with Zhangye Guofang Real Estate to establish the Zhangye Guofang Plaza commercial complex, with a leased area of 37,266.10 square meters and a lease term of 20 years. Lanzhou Guofang will pay 20% of its gross profit from main business operations as rent and is expected to invest 65 million yuan for decoration and electromechanical installation. This move aims to expand the Hexi market in Gansu Province, enhance market share, promote company development, and benefit all shareholders"
datetime: "2025-06-26T12:03:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/246256253.md)
  - [en](https://longbridge.com/en/news/246256253.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/246256253.md)
---

# GGITG's subsidiary plans to lease commercial real estate from related parties to invest in the construction of Zhangye GGITG Plaza

According to the Zhitong Finance APP, GGITG (601086.SH) announced that its wholly-owned subsidiary Lanzhou GGITG Department Store Shopping Plaza Co., Ltd. (referred to as "Lanzhou GGITG") intends to sign a "Lease Operation Contract" with Zhangye GGITG Real Estate Development Co., Ltd. (referred to as "Zhangye GGITG Real Estate") to establish the Zhangye GGITG Plaza commercial complex project. The leased property has a construction area of 37,266.10 square meters, with a lease term of 20 years. After the project opens, Lanzhou GGITG will pay rent to Zhangye GGITG Real Estate based on 20% of the total gross profit from its main business received. Lanzhou GGITG plans to invest approximately 65 million RMB for the internal and external decoration and electromechanical installation of the project according to the customized planning of the commercial project.

This leasing of commercial real estate expands the Hexi market in Gansu Province, which can better meet the company's strategic planning and the need to stabilize and expand market share. It creates synergy with the stores already opened in the Zhangye area, providing a better operating environment for future business operations in the Hexi region, which is of positive significance for the company's development and beneficial to all shareholders of the company

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