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China Chengtong Development Group Limited ( (HK:0217) ) has issued an update.
China Chengtong Development Group’s indirect wholly owned unit, Chengtong Financial Leasing, has entered into a sale and leaseback agreement with an independent thermal power generation company, under which it will acquire certain assets for RMB100 million and lease them back to the counterparty for a two-year term, with provisions for early termination if conditions are not met. The transaction, which qualifies as a discloseable transaction under Hong Kong listing rules as its size exceeds 5% but is below 25% of the relevant percentage ratios, underscores the group’s ongoing expansion in asset-backed financing and strengthens its ties with state-backed energy sector clients, potentially enhancing its leasing portfolio and recurring income base while remaining within mid-sized deal parameters for shareholders.
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 whose businesses include financial leasing through its indirect wholly owned subsidiary, Chengtong Financial Leasing, providing structured lease financing solutions to corporate clients in mainland China.
YTD Price Performance: 13.89%
Average Trading Volume: 2,217,949
Technical Sentiment Signal: Sell
Current Market Cap: HK$732.2M
Find detailed analytics on 0217 stock on TipRanks’ Stock Analysis page.