BAIYING HOLDING (08525) announced that on October 21, 2025 (post-market), the buyer, Xiamen Baiying Financial Leasing Co., Ltd., an indirect wholly-owned subsidiary of the company, entered into a sale-and-leaseback transaction with Jiuxian (Jiuxian Industrial Investment Development Group Co., Ltd.) under a financing lease agreement. According to the agreement, the buyer agrees to purchase the leaseback assets from Jiuxian for a sum of RMB 30 million (approximately HKD 32.84 million) and to lease these assets back for a duration of 36 months, receiving rental payments in return. The leaseback assets include three sets of power supply equipment, three sets of water supply equipment, and two distribution boards. The announcement states that the buyer primarily engages in financing leasing activities in China. It is anticipated that the financing lease agreement will enable the group to earn approximately RMB 3.0953 million (around HKD 3.388 million) in total revenue over the three-year lease term. Given that the financing lease agreement was made in the ordinary course of the buyer's general and daily business and was established on normal commercial terms agreed upon with the lessee, the directors believe that the terms of the financing lease agreement are fair and reasonable, aligning with the overall interests of the group and its shareholders.