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China Chengtong Development Group Limited ( (HK:0217) ) has shared an announcement.
China Chengtong Development Group Limited, through its subsidiary Chengtong Financial Leasing, has entered into significant sale and leaseback agreements with PowerChina Real Estate and its co-lessees. These agreements involve purchasing leased assets and leasing them back for two years, subject to shareholder approval and other conditions. The arrangements are considered very substantial acquisitions under Hong Kong’s Listing Rules, requiring shareholder notification and approval due to their scale. This move could enhance the company’s market position and financial offerings, impacting stakeholders and aligning with its strategic goals.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited operates in the financial leasing industry, primarily focusing on sale and leaseback arrangements. The company is involved in acquiring and leasing back assets, providing financial solutions to companies, particularly in collaboration with Power Construction Corporation of China.
YTD Price Performance: 6.48%
Average Trading Volume: 4,515,004
Technical Sentiment Signal: Sell
Current Market Cap: HK$684.6M
Find detailed analytics on 0217 stock on TipRanks’ Stock Analysis page.