Item 2. Properties
Item
2. Properties
We
currently maintain our principal executive offices at 13th Floor, Building B1, Wisdom Plaza, Qiaoxiang Road, Nanshan District,
Shenzhen, Guangdong, China 518000, comprising an aggregate of 120 square meters, which expires on October 28, 2021, with a
related party. Subsequently, the Company terminated the agreement on February 28, 2021 due to business strategy. The current monthly
rent is RMB30,000 (approximately $4,349).
We
maintain a retail store and warehouse for wine, comprising an aggregate of 1,200 square meters, in Dongguan City, Guangdong province,
China under a lease, which expires on April 30, 2027, with a related party. The current monthly rent is RMB10,000 (approximately
$1,450).
In addition,
we maintain one office, seven wholesale stores and a warehouse for water and edible oil products of more
than 1,300 square meters, in Dongguan City, Guangdong province, China under nine leases, which with third parties.
The current total monthly rent is RMB39,000 (approximately $5,961).
We
also maintain one registered office for the subsidiary with lease term of three years.
As
of December 31, 2020, the Company has total twelve separate operating lease agreements for three office spaces, one warehouse
and eight stores in PRC with remaining lease terms of from 21 months to 76 months.
26
Item
3. Legal Proceedings
We
are not currently involved in any legal proceedings and we are not aware of any pending or potential legal actions.
Item
4. Mine Safety Disclosures
Not
applicable.
PART
II
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