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China Chengtong Development Group Limited ( (HK:0217) ) has provided an update.
China Chengtong Development Group Limited announced a major transaction involving the transfer of leased assets through its subsidiary, Chengtong Financial Leasing. The arrangement involves purchasing leased assets from a lessee for RMB300 million and leasing them back for two years. This transaction, exceeding 25% of the applicable percentage ratio, requires shareholder approval, which has already been obtained from the controlling shareholder, negating the need for a general meeting.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited operates in the financial leasing industry through its subsidiary, Chengtong Financial Leasing. The company focuses on providing financial leasing services, which involve purchasing assets and leasing them back to clients.
YTD Price Performance: -20.91%
Average Trading Volume: 1,489,946
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$517.9M
For detailed information about 0217 stock, go to TipRanks’ Stock Analysis page.