Item 2. Properties
Item
2. Properties
Our
principal executive offices are located at 16th Floor, Building 2, A+Building, 139 Liansheng Road, Humen Town, Dongguan
City, Guangdong Province,
China 523900, with an aggregate leased space of 599 square meters. The current lease expires on May 6, 2026. The current monthly rental
is RMB28,932 (approximately $4,484).
Our
wine and liquor product operations are based in Humen Town, Dongguan City. We have three retail stores for wine and liquor products.
France Vin Tout leases a six-floor building with a total floor area of 1,200 square meters. The wine retail store is located on the first
floor which we use exclusively as a retail store and for sample products display. We use the remaining five floors as the Company’s
offices, conference room, and inventory storage spaces. Fu La Tu and Fu Xin Gu each has a lease space for a retail store.
Our
management offices for water and other products are also located in Humen Town, Dongguan City. We lease a building which has over 1,300
square meters for use as Xixingdao’s office. In addition to offices for Xixingdao’s sales, customer service, warehouse, delivery
and finance departments, the building also houses seven wholesales stores and a warehouse.
As
of December 31, 2023, the Company had a total of twenty-one operating lease agreements for three office spaces, one warehouse and seventeen
retail stores in the PRC with remaining lease terms ranging from 6 months to 40 months.
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