A subsidiary of Jiahua Stores (HKG:0602) has terminated an agreement to lease retail spaces at shops in Jiangnan Times Square in Shenzhen, China, till July 14, 2039, a Friday bourse filing said.
The unit will now only lease the spaces until Feb. 13, 2025, and then transfer them to the new tenant, Shenzhen Peng Sheng Wang Supermarket.
The early termination comes as the company's retail store, for which the property had been leased, has been underperforming since its opening, leading to a continuous monthly operating loss.
The lease for the property had begun July 15, 2024.
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