Xinji Shaxi Group (3603) disclosed plans that an Extraordinary General Meeting (EGM) will be convened on December 5, 2025, to seek a mandate related to a possible very substantial acquisition. The mandate involves participating in an open bidding process for the lease of two properties located in Shangjiao Village, Luopu Street, Panyu District, Guangzhou.

According to the announcement, the proposed lease is intended to secure long-term operation of Xinji Hotelex Hospitality Supplies Center. The lease term would be 20 years, with a monthly reserve price set at RMB3,621,840 and a maximum bid capped at 5% above the valuation of the properties. If the bidding is successful, the company aims to finalize the lease agreement shortly after the public announcement of the bidding results.

The EGM will be held at the Xinjicheng Club in Guangzhou, and shareholders registered by December 5, 2025, will be eligible to vote. The management emphasized that the transaction, if executed, is expected to be recognized as a right-of-use asset on the company’s balance sheet and treated as a very substantial acquisition pursuant to listing rules. Shareholders are advised to review the circular for full details on the financial information, valuation, and procedural steps of the potential lease.