China Chengtong Development Group Limited (HK:0217) has released an update.
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China Chengtong Development Group Limited has decided to prematurely terminate its sale and leaseback arrangement with Haifa Baocheng, originally set for two years and involving a maximum financing amount of RMB 500 million. This termination, effective from August 20, 2024, is classified as a discloseable transaction as per the Listing Rules, with the highest percentage ratio between 5% and 25%. At the time of termination, the outstanding lease payment was approximately RMB 51.67 million, which includes principal, interest receivable, and unearned lease interest.
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