Aztech unit sells China property for $7.31m

Upon completion of the Sale, Aztech will report a net gain of $3.9m.

Aztech Global’s wholly-owned subsidiary, Aztech Communication Device (DG), has sold its property in Dongguan, China for $7.31m (RMB 41m) to an independent third party.

The property is a leasehold property with a lease of 50 years from 2002 and a land area of approximately 32,566.7 square metres.

Aside from the sale, Aztech disclosed that its subsidiary also signed a supplementary agreement to leaseback part of the property for a period of 10 years for an aggregate rental amount of $3.568m of (RMB 20m).

According to their bourse filing, Aztech said the sale and leaseback would be beneficial because Aztech DG will be able to right size its manufacturing facility in China to service customers who wish to carry out manufacturing activities there and it will not need to bear the cost of maintaining the entire property.

The completion of the sale should be no later than 20 October 2025 and upon completion of the Sale, Aztech will report a net gain of $3.9m (RMB 21.88m).

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