Hong Kong – 1957 & Co. (Hospitality) Limited has executed a new tenancy agreement to extend the lease of its Japanese-cuisine restaurant “Gonpachi” on the 28th floor of One Peking, Tsim Sha Tsui, Kowloon. The agreement, signed on 28 September 2026 between indirectly wholly owned subsidiary Gonpachi Restaurant Limited and landlord Glory Star Investments Limited, renews the premises for two years from 20 January 2027 to 19 January 2029.

Key commercial terms: • Base rent: HK$500,000 per month (HK$12.00 million across the term). • Air-conditioning and management charges: HK$90,000 per month (HK$2.16 million). • Government rates: HK$70,000 per quarter, payable in advance and subject to final assessment. • Turnover rent: 12% of monthly gross revenue, payable in arrears if applicable. • Security deposit: HK$1.82 million, of which HK$1.76 million is rolled over from the existing lease; HK$0.06 million was paid on signing.

The aggregate consideration for base rent, management charges and rates totals approximately HK$14.10 million and will be funded entirely by internal resources. Post-renewal, the Group will recognise an additional right-of-use asset of roughly HK$11.40 million, calculated as the present value of lease payments plus initial direct and reinstatement costs, discounted at an incremental borrowing rate of 5.0% per annum in accordance with HKFRS 16.

Under Chapter 19 of the GEM Listing Rules, the transaction qualifies as a discloseable transaction—triggered by applicable percentage ratios exceeding 5% but remaining below 25%—requiring public announcement without shareholder approval.

Management expects the renewal to underpin ongoing operations of the high-end Gonpachi restaurant, citing its historical performance and strategic importance within the Group’s multi-cuisine portfolio spanning Japanese, Thai, Vietnamese, Shanghainese and Italian concepts.