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China Chengtong Development Group Limited ( (HK:0217) ) just unveiled an announcement.
China Chengtong Development Group Limited announced a major transaction involving a sale and leaseback arrangement through its subsidiary, Chengtong Financial Leasing. The arrangement involves purchasing leased assets from a lessee and leasing them back for two years. This transaction, aggregated with previous transactions, constitutes a major transaction under Hong Kong’s Listing Rules, requiring shareholder approval. The arrangement is part of the company’s strategy to strengthen its financial leasing operations, particularly in the energy sector, and has received approval from its 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, primarily through its subsidiary Chengtong Financial Leasing. The company focuses on sale and leaseback arrangements, providing financial solutions to businesses, with a market focus on sectors such as energy.
YTD Price Performance: 18.52%
Average Trading Volume: 4,553,173
Technical Sentiment Signal: Hold
Current Market Cap: HK$762M
Learn more about 0217 stock on TipRanks’ Stock Analysis page.