China Chengtong Development (HKG:0217) said its unit Chengtong Financial Leasing has entered into a sale-and-leaseback agreement with Zhejiang Changxing Integrated Logistics Park Development.

Chengtong Financial Leasing will purchase power transmission and distribution equipment, communication equipment, automated packaging and transportation equipment, X-ray security inspection equipment and intelligent control devices from the lessee for 300 million yuan, and lease the assets back to the lessee for two years.

Total lease payments are estimated at 312.4 million yuan, comprising the lease principal and about 12.4 million yuan in interest.