On 16 July 2026, Wang On Group Limited (Wang On Group) disclosed the renewal of three inter-related office leases at Skyline Tower, Kowloon Bay, Hong Kong, covering its head-office premises. The leases—signed by indirect subsidiaries Daywin Ltd. (Tenant A), Wang On Properties Services Ltd. (Tenant B) and wholly owned Wang On Management Services Ltd. (Tenant C)—each run for approximately 30 months from 8 July 2026 to 31 December 2028.
Key lease parameters • Aggregate monthly base rent: HK$655,676, comprising – Tenant A: HK$248,920 for Suite Nos. 01, 02, 03, 05, 10B, 11 & 12, 31/F – Tenant B: HK$245,882 for Suite Nos. 01, 08, 09, 10, 11 & 12, 32/F – Tenant C: HK$160,874 for Suite Nos. 02, 03, 05, 06, 07 & 15, 32/F
• Lease term: ~30 months (8 July 2026 – 31 December 2028) • Aggregate rental outlay (base rent only): about HK$19.67 million over the term • Security deposits: HK$3.02 million in total
Accounting and Listing Rules treatment Under HKFRS 16, the three agreements will be capitalised as right-of-use assets and corresponding lease liabilities of approximately HK$18.00 million on the Group’s balance sheet. When aggregated, the transaction size represents a highest applicable percentage ratio of more than 5% but less than 25% under Chapter 14 of the Hong Kong Listing Rules, classifying it as a “disclosable transaction.” Consequently, the renewals require public reporting and announcement but do not trigger shareholders’ approval.
Strategic rationale Wang On Group has occupied the Skyline Tower premises since 2016. The Board cited continuity of operations, prevailing market rents and avoidance of relocation costs as key considerations, concluding that the new leases are on normal commercial terms and serve the best interests of the Group and its shareholders. All rental payments and related outgoings will be funded through internal resources.
Counterparties The landlord, Rich Century Investment Ltd., is a Hong Kong-incorporated property investment company ultimately owned 50% by Sino Land Company Ltd. (HKEX: 83) and 25% each by Mr. Robert Ng Chee Siong and Mr. Philip Ng Chee Tat. The landlord and its ultimate owners are classified as Independent Third Parties to Wang On Group.
Corporate profile Wang On Group, incorporated in Bermuda and listed in Hong Kong, operates across four segments: fresh market management and treasury operations; property investment and development via 75%-owned Wang On Properties Ltd.; pharmaceutical and health products through 72.71%-owned Wai Yuen Tong Medicine Holdings Ltd.; and agricultural produce market assets via 57.09%-owned China Agri-Products Exchange Ltd.