MicroPort CardioFlow Medtech Announces Lease Agreement for New Manufacturing Facility in Shanghai Free Trade Zone to Support Capacity Expansion
MicroPort CardioFlow
A Provider of High-End Interventional Medical Devices in the Cardiac Valve Field, Engaged in R&D, Manufacturing, Sales, and Related Technical Consulting Services
MicroPort
High-end Medical Device R&D and Manufacturer
Source: Finet
【Finet News】MicroPort CardioFlow Medtech Corporation (-B) (02160.HK) announced that on May 13, 2021, its wholly-owned subsidiary, MicroPort CardioFlow Medtech Corporation, entered into a lease agreement with a landlord, pursuant to which MicroPort CardioFlow Medtech Corporation agreed to lease the property from the landlord for production purposes for a term of five years.
The total rent payable by MicroPort CardioFlow over the entire term of the lease agreement will be approximately RMB 155.62 million, which amount was determined by both parties after arm’s length negotiations with reference to the prevailing market rent of comparable properties.
This property forms part of an industrial facility specifically constructed by the owner for the Group. Located at No. 1661 Zhangdong Road, China (Shanghai) Pilot Free Trade Zone, the property has a total gross floor area of approximately 15,503.54 square meters.
The property was specifically constructed for the Group’s operations. As the property has been completed, a lease agreement has been entered into to enable the Group to utilize the premises. The Group intends to use the property for production purposes as part of its expansion plan.