Hong Kong IPO disclosure precedents · 41 companies, 42 items
Lease agreements not registered/filed with the relevant PRC authorities, exposing the company to orders to rectify and fines per unregistered lease, while PRC counsel generally confirms non-registration does not affect validity.
Compliance matters are read from filings since 24 August 2026.
As of the Latest Practicable Date, two of our leased properties in the PRC had not been registered with the relevant PRC government authorities.
Risk Factors · p. 52
As advised by our PRC Legal Advisors, failure to complete the registration and filing of lease agreements will not affect the validity of such leases or impede our use of the relevant properties but could result in the imposition of fines up to RMB10,000 for each leased property that is unregistered if we fail to rectify the non-compliance within the time frame prescribed by the relevant authorities.
However, as of the Latest Practicable Date, some of our leased properties have not been registered with the relevant PRC government authorities.
Risk Factors · p. 47
As of the Latest Practicable Date, we have six leased properties that have not been registered in accordance with the applicable regulations.
Business · p. 190
According to our PRC Legal Advisers, failure to complete lease registration does not affect the legal validity of the leases. However, the local housing authorities may impose a fine of up to RMB10,000 per lease for non-registration.