Tang Palace (China) Announces RMB14.2 Million Right-of-Use Asset Acquisition Through New Tenancy Agreement
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Tang Palace (China) Holdings Ltd. announced that its subsidiary, Chengdu Well Excellent Tang Palace Catering Management Co., Ltd., has entered into a new tenancy agreement with Sichuan Shouzuo for the lease of certain premises. This transaction, recognized as an acquisition of right-of-use assets under HKFRS 16, is classified as a discloseable transaction under Hong Kong Stock Exchange rules, necessitating a public announcement but not requiring shareholder approval.
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