Common Contracts
1 similar Property Leasing Agreement contracts
OVERVIEW One-off transactions with the Luye GroupProperty Leasing Agreement • May 13th, 2022
Prior to the [REDACTED], our Group has entered into a number of property leasing agreements with members of the Luye Group, pursuant to which (i) our Group leased one office premise in the PRC with a total GFA of approximately 4,900 sq.m. from the Luye Group at the annual rent of approximately RMB1.8 million; and (ii) our Group leased four properties in the PRC with an aggregate GFA of approximately 1,608 sq.m. from the Luye Group, comprising a cell and genetic therapy R&D facility, analytical equipment room, storage unit and testing laboratory, at the aggregate annual rent of approximately RMB0.8 million. Instead of incurring material capital expenditures for constructing our own premises, we leased such premises so that we could allocate a substantial part of our cashflow to R&D activities.
