China Chengtong Development (HKG:0217) said its unit, Chengtong Financial Leasing, entered into three leased assets transfer agreements with China KangFu International Leasing and Fuhong Capital, according to a Wednesday Hong Kong bourse filing.

Shares of the firm were down nearly 2% in Thursday afternoon trade.

Under the deals, Chengtong Financial Leasing will acquire leased assets from China KangFu and Fuhong for 95 million yuan and lease them back for terms of 12, 15, and 24 months.

The leased assets include vehicles, aerial work platforms, scissor lifts, towing vehicles, semitrailers, batteries, and charging piles.

Approval has been secured from the controlling shareholder, China Chengtong Hong Kong, which owns 53.1% of the company.