China Chengtong Development Group (00217) Subsidiary Enters Sale and Leaseback Agreement for Power Transmission and Distribution, Communication Equipment, Automatic Packaging Machines, and Others

Stock News
Sep 30

According to an announcement from China Chengtong Development Group (00217), on September 30, 2026, Chengtong Financial Leasing (an indirectly wholly-owned subsidiary of the Company) entered into a sale and leaseback agreement with the lessee Zhejiang Changxing Comprehensive Logistics Park Development Co., Ltd. Under the agreement, Chengtong Financial Leasing will purchase the leased assets from the lessee and lease the leased assets back to the lessee for a lease term of two years, subject to early termination in accordance with the terms and conditions of the sale and leaseback agreement.

It is understood that the leased assets include power transmission and distribution equipment, communication equipment, automatic packaging machines, X-ray security inspection machines, automatic transportation equipment, and intelligent control equipment, among others.

The sale and leaseback arrangement was entered into in the ordinary and usual course of business of Chengtong Financial Leasing, and Chengtong Financial Leasing is expected to earn revenue of approximately RMB 19.85 million (equivalent to approximately HKD 23.03 million), being the aggregate of service fees and lease interest for the relevant sale and leaseback arrangement.

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