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The latest announcement is out from China Chengtong Development Group Limited ( (HK:0217) ).
China Chengtong Development Group Limited has entered into a major leased assets transfer arrangement through its subsidiary Chengtong Financial Leasing, which will purchase certain leased assets from a lessee and lease them back for a three-year term, with provisions for early termination. The scale of the deal triggers major transaction treatment under Hong Kong listing rules, requiring disclosure and shareholder approval; the company has already secured written consent from its controlling shareholder, avoiding the need for a general meeting, and will issue a circular with further details by early February, underscoring its continued use of financial leasing structures as a material component of its business and capital deployment strategy.
The most recent analyst rating on (HK:0217) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on China Chengtong Development Group Limited stock, see the HK:0217 Stock Forecast page.
More about China Chengtong Development Group Limited
China Chengtong Development Group Limited is a Hong Kong–incorporated company engaged in financial leasing and related investment activities through its indirect wholly owned subsidiary, Chengtong Financial Leasing. The group focuses on structuring asset-based financing solutions, including sale-and-leaseback and leased asset transfer arrangements, to support corporate clients’ capital and operational needs.
YTD Price Performance: 3.28%
Average Trading Volume: 1,853,387
Technical Sentiment Signal: Sell
Current Market Cap: HK$738.2M
For an in-depth examination of 0217 stock, go to TipRanks’ Overview page.