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China Chengtong Development Group Limited ( (HK:0217) ) just unveiled an update.
China Chengtong Development Group Limited has announced a major transaction involving a sale and leaseback arrangement through its subsidiary, Chengtong Financial Leasing. The company will purchase assets from a lessee for RMB300 million and lease them back for a five-year term. This transaction, which exceeds 25% of the company’s applicable percentage ratio, has been approved by the controlling shareholder, negating the need for a general meeting. The arrangement is expected to impact the company’s financial operations by expanding its leasing portfolio and potentially enhancing its market position.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited operates in the financial leasing industry, providing sale and leaseback arrangements through its subsidiary, Chengtong Financial Leasing. The company focuses on facilitating financial transactions that involve purchasing assets and leasing them back to the original owners.
YTD Price Performance: -20.91%
Average Trading Volume: 1,489,946
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$517.9M
Learn more about 0217 stock on TipRanks’ Stock Analysis page.