China Chengtong Development Group (HKG:0217) said its Chengtong Financial Leasing unit entered a sale and leaseback arrangement with China KangFu International Leasing, according to a Hong Kong bourse filing Tuesday.
Shares of the property developer fell nearly 1% in late morning trade Wednesday.
Under the agreement, the firm will buy certain wind power station equipment from China KangFu International for 152 million yuan and lease them back to the company for two years for 158 million yuan.
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