Kimou Environmental repurchases and disposes Tianjin factory

Kimou Environmental Holding Limited (HKEX:6805) has announced the repurchase of a factory in Tianjin Bingang Park and the consolidated disposal of the same factory and its related land use rights. The factory, initially constructed by Tianjin Hongyue on land owned by Tianjin Jinhuadu, is subject to a lease agreement set to expire in August 2041. Monthly rent under the agreement ranges from RMB163,677.50 to RMB218,018.43. The decision aims to facilitate Tianjin Hongyue's shift from leasing to owning the property, addressing their inability to obtain a separate property certificate without the land use rights. Directors believe the move will result in cost savings on land appreciation tax and other applicable charges. As of the announcement date, the ultimate beneficial owners of Tianjin Hongyue include Ling Wentao (42.12%), Liu Hanchen (14.46%), and Xu Yunfeng (13.28%).