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China Chengtong Development Group Limited ( (HK:0217) ) has issued an announcement.
China Chengtong Development Group Limited, through its subsidiary Chengtong Financial Leasing, has entered into a major sale and leaseback agreement with co-lessees, involving assets worth RMB400 million. This transaction, which exceeds a 25% threshold of applicable percentage ratios, is classified as a major transaction under Hong Kong’s Listing Rules, requiring shareholder approval. The company has secured the necessary written approval from its controlling shareholder, eliminating the need for a general meeting. This arrangement is expected to enhance the company’s financial operations and provide leasing solutions to its partners, potentially impacting its market positioning positively.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited operates in the financial leasing industry, focusing on providing sale and leaseback services. The company is involved in transactions that facilitate asset acquisition and leasing arrangements, primarily targeting businesses requiring financial flexibility.
YTD Price Performance: 50.93%
Average Trading Volume: 7,668,499
Technical Sentiment Signal: Buy
Current Market Cap: HK$970.3M
See more data about 0217 stock on TipRanks’ Stock Analysis page.