Greater Bay Area AI Computing Tech Co., Ltd. (GBA AI COMP; 01396.HK) has entered into two sale-and-leaseback transactions with SPDB Financial Leasing Co., Ltd. totalling RMB1.19 billion, designed to support the group’s accelerating AI computing power build-out.
Transaction structure • Finance Lease Agreements I (24 Jun 2026): SPDB Financial Leasing will acquire IT and ancillary equipment (book value: RMB416 million) from Shenzhen Hongrui Digital Innovation Technology Co., Ltd. for RMB395 million and lease the assets back for 62 months. Aggregate lease payments: RMB450 million. • Finance Lease Agreements II (21 Jul 2026): The lessor will purchase additional IT equipment (book value: RMB1.10 billion) for RMB790 million and lease it back on identical 62-month terms. Aggregate lease payments: RMB901 million. • At maturity, Shenzhen Hongrui may repurchase each batch of leased assets for a nominal RMB1.
Aggregate metrics • Total purchase consideration: RMB1.19 billion. • Total lease payments: RMB1.35 billion across 62 months. • Secured principal claims: RMB1.35 billion, backed by joint-and-several guarantees from Shenzhen Tiandun Data Technology, Executive Directors Luo Jieping and Zhong Junhua, plus a pledge over Shenzhen Hongrui’s service fee receivables.
Accounting & Listing Rules The transactions will be treated as financing arrangements; no disposal gain or loss is expected. On an aggregated basis, the applicable percentage ratios exceed 5 % but are below 25 %, classifying the deals as discloseable transactions under Chapter 14 of the Hong Kong Listing Rules, requiring announcement but not shareholder approval. The personal guarantees qualify for exemption under Rule 14A.90.
Strategic rationale Proceeds will finance further procurement of IT infrastructure to meet burgeoning demand for AI computing cloud services. As of 30 June 2026, the group had fulfilled over RMB2.00 billion of new AI computing orders, with an additional pipeline exceeding RMB2.00 billion since 1 July 2026. Management views the leaseback structure as a flexible, cost-effective funding channel that strengthens the company’s computing-power capacity and supports ongoing order deliveries.