Concord New Energy Group Limited (SEG) announced after trading hours on May, 29 2026 that its wholly-owned unit Fengning Manchu Autonomous County Juting New Energy Development has signed a finance-lease agreement with Industrial Bank Financial Leasing involving a sale-and-leaseback of auxiliary facilities and solar-storage equipment for its 200 MW photovoltaic project in Hebei province.

Under the deal, the lessor will purchase the assets for about 160 million Singapore dollars and lease them back to the subsidiary for 14 years. Lease payments will be made quarterly and are based on the over-five-year loan prime rate minus 0.25%. Assuming the benchmark rate stays at 3.5%, total lease payments would amount to roughly 198 million Singapore dollars. The lessee has an option to buy back the assets for S$100 at the end of the term and may terminate the lease early without penalty after 25 months.

Proceeds will be used to refinance two earlier finance-lease arrangements signed in September and November 2024, which will be terminated once the new facility is in place.

The transaction is classified as a major transaction under Hong Kong Listing Rules, requiring shareholder approval. A special general meeting will be convened, and a circular is slated for dispatch on or before Jun, 25 2026.