Shanghai Able Digital Science&Tech Co., Ltd. (short name: Able Digital) has executed a fresh office lease with Chuanxi Technology (Shanghai) Co., Ltd., an Alibaba Group subsidiary, to secure expanded headquarters premises in Shanghai.
The agreement, signed on 26 May 2026, covers Rooms 501, 601 and 701-705 of Building 1, No. 8 Longhua Airport Road, Xuhui District, Shanghai. The lease runs from 1 May 2026 through 30 November 2031—equivalent to 67 months—and is exclusively for office use.
Key commercial terms • Rent: approximately RMB1.79 million per month, funded through internal resources. • Property management fee: RMB0.43 million per month (RMB38.00 per sq m). • Deposit: RMB6.68 million, representing up to three months’ rent and three months’ management fees. • Ancillary charges: parking, renovation, utility and other fees will follow prevailing property-management tariffs.
Accounting and regulatory impact In line with IFRS 16, Able Digital will recognise a right-of-use asset valued at about RMB76.31 million—the present value of aggregate lease payments. The size of this asset places the transaction within the 5%–25% range of applicable percentage ratios under Hong Kong Listing Rules, classifying it as a discloseable transaction subject to announcement but exempt from shareholder approval. As Chuanxi Technology and its ultimate owner Alibaba Group Holding Limited are independent third parties, the lease does not constitute a connected transaction.
Strategic rationale Management cites continued business growth and headcount expansion, coupled with the impending expiry of the current lease, as drivers for relocating. The new premises offer larger floor area, improved facilities and stable, predictable rental costs, supporting Able Digital’s medium-term operational requirements and growth plans.
Board confirmation The board, including independent non-executive directors, affirms that the lease terms were negotiated at arm’s length, are on normal commercial terms and in the interests of both the company and its shareholders.