Kyushu Railway: Plans to rent out a factory building to related parties for 49.6134 million yuan, subject to approval by the shareholders' meeting.
Kyushu Rail announced that the company plans to rent out part of the plant with an area of 16,990.89 square meters to its affiliate, Tongchuang Kyushu, for a period of 8 years, at a total rent not exceeding 49.6134 million yuan. Tongchuang Kyushu is a joint venture between the company and Jiangsu General Semiconductor, in which the company holds a 40% stake. The chairman of the board of directors and CEO, Cao Weidong, serves as its chairman. This transaction constitutes a related party transaction but does not constitute a major asset restructuring. The transaction has been approved by the board of directors and is subject to approval by the shareholders' meeting.
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