GOGOX Holdings Limited (GOGOX) issued a clarification on its Second Supplemental Property Lease Agreement, correcting the accounting impact and updating key rental details between indirect subsidiary Tianjin 58 Technology (lessee) and Beijing Swan Home (lessor).

The recalculated increase in right-of-use assets stands at approximately RMB0.11 million, down from the RMB0.27 million previously disclosed, due to an inadvertent calculation error. With the highest applicable percentage ratio under Hong Kong Listing Rules now below 0.1%, the transaction is classified as de minimis and is exempt from annual reporting, review, announcement and independent shareholders’ approval requirements.

Revised rental concessions are as follows: • 1 February – 31 March 2027: RMB138,037 • 1 February – 31 March 2028: RMB120,000

Payment terms outside the concessions remain RMB120,000 per month, payable at least 15 working days in advance. Total rental payable under the Second Supplemental Property Lease Agreement is RMB2.66 million, calculated as 20 months at RMB120,000 plus the two concession payments.

Key comparative metrics versus the original Supplemental Property Lease Agreement: • Lease area reduced to 701.59 sq.m. from 1,038.81 sq.m. (-32%). • Lease term shortened to 24 months from 36 months. • Unit rental rate (exclusive of administrative fees) unchanged at RMB148.01 per sq.m. per month. • Aggregate rental payable for the overlapping period (1 April 2026 – 31 March 2028) lowered by RMB1.11 million to RMB2.66 million.

Accounting treatment under IFRS 16 drove the modest rise in right-of-use assets. GOGOX elected the practical expedient to combine lease and non-lease components (management and newly introduced administrative fees) into a single lease component, resulting in a higher payment per square metre (RMB157.86 vs. RMB148.01). Coupled with a slight decline in the incremental borrowing rate (3.5% vs. 3.6%), the mandatory two-step lease modification process produced an upward remeasurement that outweighed the proportional reduction in lease scope.

Rental composition under the revised agreement: • Lease component: RMB2.24 million • Management fees: RMB0.25 million • Administrative fees: RMB0.17 million

No other terms of the original announcement were changed. The board reaffirmed that the adjusted figures do not alter the commercial substance or the de minimis status of the connected transaction.