A.Plus Group Holdings Limited Announces Discloseable Transaction on New Tenancy Agreements

Date: 17 April 2026

Listed Entity: A.Plus Group Holdings Limited (Stock Code: 1841)

Key Points Investors Must Know

• Multiple Tenancy Agreements Aggregated: The Group has entered into three tenancy agreements (the First, Second, and Third Tenancy Agreements) for office premises in Sheung Wan, Hong Kong, within a 12-month period. These lease agreements have been aggregated for regulatory purposes.
• Third Tenancy Agreement Details:
  • Date: 17 April 2026 (agreement signed)
  • Landlord: Joinice Company Limited
  • Tenant: Merit Leader Limited (an indirect wholly-owned subsidiary of A.Plus)
  • Property: 3/F, OfficePlus @Sheung Wan, Nos. 93-103 Wing Lok Street, Sheung Wan, Hong Kong
  • Usage: Office space
  • Term: 3 years, from 20 March 2026 to 19 March 2029 (inclusive)
  • Monthly Rent: HK\$140,000 (exclusive of rates, management fees, air-conditioning, and other outgoings)
  • Total Consideration: HK\$4,760,000 (exclusive of additional charges), to be settled by the Group’s internal resources
• Accounting Impact: According to HKFRS 16 “Leases”, the Group will recognize right-of-use assets on its consolidated statement of financial position. The aggregate present value of lease payments for all three agreements is estimated at HK\$10,535,000, using a discount rate of approximately 3.2% per annum. This value is subject to adjustment and is currently unaudited.
• Regulatory Implications: Because the aggregated value of the right-of-use assets exceeds 5% but is less than 25% of relevant ratios under the Listing Rules, these transactions are classified as “discloseable transactions.” They require notification and announcement, but not shareholders’ approval.
• Landlord Structure and Independence: Kam Wah and Joinice (landlords for the leases) are property investment companies ultimately controlled by the Fong family and associated entities. However, they are regarded as Independent Third Parties and not connected persons under the Listing Rules, which is important for compliance and transparency.

Details and Potential Share Price Sensitivity

Why This Matters to Shareholders:
The renewal and expansion of tenancy agreements reflect A.Plus Group Holdings Limited’s ongoing business growth and the need for additional office space to support operations. By securing a three-year lease for an additional floor in the same building where the Group already operates, the company minimizes disruption and demonstrates operational continuity.

The total financial commitment (HK\$10.54 million present value of leases) is material enough to trigger a discloseable transaction. This level of capital commitment and growth could signal to investors that the Group is expanding its business base, which may have a positive impact on long-term earnings potential, operational efficiency, and market confidence.

The fact that these agreements are with independent third parties, and the terms are at market rates following arm’s length negotiations, further supports the transparency and fairness of the transaction. The use of internal resources to fund the lease indicates the Group’s healthy liquidity position.

The Board emphasizes that the transactions are in the best interests of the Company and its shareholders, supporting ongoing business operations without the need for relocation.

Landlord Structure and Ownership Details

• Kam Wah and Joinice are both Hong Kong-incorporated property investment companies, ultimately owned by members of the Fong family and associated entities.
• Ownership of Kam Wah is spread among various family members and entities, with the largest individual stake at 20.8% held by Catana (Holdings) Inc.
• Joinice is 25% owned by Kam Wah, with other significant stakes held by related companies and Handsome Construction & Investment Company Ltd.
• Despite the intertwined ownership, the landlords are classified as Independent Third Parties for the purpose of these transactions.

Conclusion

This series of tenancy agreements is a clear signal of A.Plus Group Holdings Limited’s commitment to business expansion and operational stability. Investors should note the scale of the financial commitment, the strategic decision to maintain and expand premises in a prime Hong Kong location, and the company’s internal funding capability. These developments are potentially price sensitive, as they could impact future profitability, operational performance, and overall market perception.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should consult their own advisors and review the official company announcements and filings before making any investment decisions. The information is based on publicly available disclosures as of 17 April 2026 and may be subject to change or adjustment.

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