As of the Latest Practicable Date, six of our lease agreements have not been registered and filed with the relevant real estate administration bureaus in the PRC.
Risk Factors · 第 49 页
As of the Latest Practicable Date, six of our lease agreements had not been filed with the relevant authorities.
Business · 第 171 页
As advised by our PRC Legal Advisor, our Directors are of the view that the aforementioned failure to file lease agreements will not have a material impact on our business operations and financial performance, given that (i) according to our PRC Legal Advisor, a maximum penalty of RMB10,000 may be imposed for the non-filing of each lease agreement, and accordingly the aggregate amount of maximum fine will be RMB60,000, an amount which is de minimis compared with our net current assets as of April 30, 2026; (ii) the failure to file the lease agreements does not affect the validity of these agreements; (iii) as of the Latest Practicable Date, we had not received any rectification notice or penalty from the relevant authorities due to such defects, and there were no ownership disputes affecting our continued use of the leased properties; and (iv) among the six unfiled lease agreements, two of them will be terminated in 2026 and our factories located in the relevant properties will be relocated, and the lessors with respect to the remaining four unfiled lease agreements have provided us with written confirmation that the failure to file the lease agreements does not affect the validity of these agreements.
Additionally, as of the Latest Practicable Date, we had not received real estate ownership certificates or proof of authorizations from the lessors or the property owners for one of our leased properties in China, with a GFA of approximately five sq. m.
Business · 第 190 页
As of the Latest Practicable Date, we had not received real estate ownership certificates or proof of authorizations from the lessor or the property owner for one of our leased properties in China, with a GFA of approximately five sq. m.
As of the Latest Practicable Date, we had not received real estate ownership certificates or proof of authorizations from the lessors or the property owners for one property we leased in China.
Business · 第 170 页
Our PRC Legal Advisor is of the view that we would not be subject to any administrative penalties arising from the lessor’s lack of valid title certificates considering that we are the lessee, and no applicable laws, rules or regulations stipulate that any penalty shall be imposed on the lessee with respect to the lessor’s lack of valid title certificates.
彤程新材料集团股份有限公司Red Avenue New Materials Group Co., Ltd.09607.HK
境内租赁物业均已登记备案
As at the Latest Practicable Date, the leases of all the above leased properties had been registered and filed with the relevant land and real estate administration bureaus in the PRC.
As of the Latest Practicable Date, 41 lease agreements of our leased properties which are leased from third parties and used for production or office had not been registered and filed with relevant land and real estate management departments in China.
Risk Factors · 第 45 页
As of the Latest Practicable Date, our Group had not filed our lease agreements for 41 buildings we leased with the local housing administration authorities as required under PRC laws and regulations.
Business · 第 167 页
As advised by our PRC Legal Advisor, the absence of registration will not affect the validity of the lease agreements, nor materially and adversely affect the operations of our Group, but we may be subject to a potential total exposure to fines of RMB770,000 for those unregistered lease agreement if required by the relevant competent authorities.
As of the same date, the ownership certificates or other similar proof for 3 of our Group leased buildings (representing approximately 2.9% of our owned and leased buildings in terms of gross floor area) had not been provided to us by the relevant lessors.
Business · 第 167 页
As advised by our PRC Legal Advisor, if these lessors are not the owners of the buildings and they have not obtained consent or approval for sub-lease from the owners or their lessors, or permits from the relevant governmental authorities, our leases could be terminated and we may be required to relocate, in which case we will be entitled to demand the relevant lessor return prepaid rent and indemnify us for damages caused by the title defect.
深圳四方精创资讯股份有限公司Shenzhen Forms Syntron Information Co., Ltd.06700.HK
一处租赁物业出租方欠缺出租权利证明
With respect to one of our operating leased properties in Chinese Mainland, the lessors have been unable to provide valid documents proving their right to lease such properties.
Risk Factors · 第 55 页
As of March 31, 2026, the lessor of one of our leased properties in Chinese Mainland has not provided valid documentation proving its right to lease the property.
As of the Latest Practicable Date, the lessors of three of our leased properties had not provided the ownership certificates, and hence we cannot ensure that they have the rights to lease such properties to us.
Business · 第 172 页
As of the same date, one of these properties had an aggregate GFA of 89 sq.m., and the leased areas of the remaining two leases used as our employees’ dormitories were not specified in the lease agreements.
Business · 第 172 页
These properties are used for office and employee dormitory purposes and therefore are not material to our business operations.
深圳四方精创资讯股份有限公司Shenzhen Forms Syntron Information Co., Ltd.06700.HK
十一份租赁协议未办理登记备案
In addition, as of March 31, 2026, eleven operating lease agreements have not been registered with the relevant PRC housing administration authorities as required by law.
Risk Factors · 第 55 页
As advised by our PRC Legal Advisors, we may be ordered to complete the registration within a prescribed time limit and may be subject to fines for non-compliance.
The lease agreements for 14 of our leased properties in China have not been registered or filed with the relevant land and real estate administration bureaus in the PRC.
Risk Factors · 第 36 页
We have not completed registration for 14 of the lease agreements for our leased properties, primarily due to the difficulty in procuring our lessors’ cooperation for the registration.
Business · 第 173 页
As advised by our PRC Legal Advisor, while the lack of registration will not affect the validity of the lease agreements, we may be ordered by the relevant government authorities to register the relevant leases within a prescribed period, failing which we may be subject to a fine ranging from RMB1,000 to RMB10,000 for each unregistered lease.
As of June 30, 2026, we have not registered the lease agreements for 16 leased properties in China with the competent authorities.
Business · 第 182 页
Our PRC Legal Advisor has advised that the absence of lease registration filings does not affect the validity of the lease agreements and will not have a material adverse impact on the overall business of the Company.
As of the Latest Practicable Date, 11 of our leased properties in China had not completed such lease registration procedures with the relevant PRC government authorities.
Risk Factors · 第 58 页
While the lack of registration will not affect the validity of the leases under PRC laws and regulations, we may be ordered by the relevant government authorities to register the relevant leases within a prescribed period, failing which we may be subject to a fine ranging from RMB1,000 to RMB10,000 for each non-registered lease.
Risk Factors · 第 58 页
In the event that any fine is imposed on us for our failure to register our lease agreements, we may not be able to recover such losses from the lessors.
广东微电新能源股份有限公司Guangdong Mic-Power New Energy Co., Ltd.
23份租赁协议未办理登记备案
As of the Latest Practicable Date, 23 leases related to the Group’s 85 leased properties in the PRC had not completed the required lease registration/filing procedures (the “Unregistered Leases”).
Business · 第 200 页
As advised by our PRC Legal Advisor, failure to complete lease registration and filing procedures in accordance with applicable laws and administrative regulations does not affect the validity of the relevant lease agreements.
Business · 第 200 页
We plan to comply with the lease agreement registration requirement regarding our lease agreements.
Certain of our lease agreements have not been registered and filed with the relevant real estate administration bureaus in the PRC.
Business · 第 187 页
As of the Latest Practicable Date, three unregistered leased properties are involved, and if relocation is required, the relocation costs are expected to be immaterial and alternative premises are generally available in the relevant areas.
As of the Latest Practicable Date, certain of our leased properties from third parties had title defects. In particular, with respect to five leased properties, the relevant lessors had not provided us with valid title certificates or relevant authorization documents evidencing their rights to lease such properties to us.
Risk Factors · 第 36 页
As of the Latest Practicable Date, certain of our leased properties from third parties had title defects, and eleven of our leased properties (including additional properties we leased after the Track Record Period and up to the Latest Practicable Date) had not been registered in accordance with the relevant PRC regulations.
In addition, as of the Latest Practicable Date, eleven of our lease agreements, including those relating to additional properties leased after the Track Record Period and up to the Latest Practicable Date, had not been registered with the relevant PRC government authorities in accordance with applicable PRC laws and regulations, primarily due to the lack of cooperation from the relevant lessors in completing the registration procedures.
Risk Factors · 第 37 页
As of the Latest Practicable Date, certain of our leased properties from third parties had title defects, and eleven of our leased properties (including additional properties we leased after the Track Record Period and up to the Latest Practicable Date) had not been registered in accordance with the relevant PRC regulations.
广西玉柴船电动力股份有限公司Guangxi Yuchai Marine and Genset Power Co., Ltd.
承租划拨土地及地上房产未取得主管部门批准
As of the Latest Practicable Date, the Leased Land and three out of eight land parcels in Yulin with an aggregate gross floor area of 93,644.1 sq.m. were allocated land, the leasing of the Leased Land and the properties built on such three land parcels had not obtained valid approvals from the local land and housing administrative authorities.
Business · 第 157 页
As of the Latest Practicable Date, the land parcel we leased was allocated land and certain of our leased properties were also located on allocated land.
Risk Factors · 第 39 页
GYMCL, our Controlling Shareholder, has undertaken to indemnify us if we were to incur any reasonable costs, charges, expenses, penalties and other liabilities in connection with the abovementioned legal defects.
广西玉柴船电动力股份有限公司Guangxi Yuchai Marine and Genset Power Co., Ltd.
大部分租赁房产未取得有效产权证明
As of the Latest Practicable Date, we had not been provided by the relevant lessors with valid title certificates for the leased properties with an aggregate gross floor area of 111,471.7 sq.m. located on seven out of eight land parcels in Yulin as well as the properties located on the Leased Land, primarily because the construction application procedures for relevant leased properties were incomplete.
Business · 第 157 页
As advised by our PRC Legal Advisor, we, as the lessee, will generally not be subject to administrative penalties for leasing and using such properties for which valid title certificates have not been obtained.
宁波舜宇智行科技股份有限公司Ningbo Sunny Smart Autotech Company Limited
租赁物业已全部办理租赁备案登记
As of the Latest Practicable Date, we had seven leased properties in China that are related to our production and operation with an aggregate area of 83,455.8 sq.m, which were currently used for offices, production, R&D and storage purposes.
Business · 第 166 页
As confirmed by our PRC legal advisor, we had completed lease registration for all of the properties we leased as mentioned above in China as of January 23, 2026.
As of the date of this document, among the three lease agreements for private premises, two of these lease agreements had not been registered with the relevant PRC authorities.
Business · 第 172 页
As advised by our PRC Legal Advisors, failure to register an executed lease agreement will not affect its legality, validity or enforceability.
Business · 第 172 页
(ii) we confirm that once the relevant PRC government authorities require us to rectify, we will do as required and within the prescribed time period.