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China Chengtong Development Group Limited ( (HK:0217) ) has shared an update.
China Chengtong Development Group Limited has announced that its indirect wholly owned subsidiary, Chengtong Financial Leasing, will acquire certain leased assets and related receivables from an existing lessor under a sale-and-leaseback arrangement for an expected consideration of about RMB245.46 million (approximately HK$267.55 million). Following the transfer, which carries a lease term of roughly 42 months subject to early termination, Chengtong Financial Leasing will be entitled to receive all lease payments and other sums due from the lessee, with the deal classified as a major transaction under Hong Kong listing rules. As the applicable percentage ratios for both the assignment and the sale-and-leaseback exceed 25% but are below 100%, the transactions require notification, announcement, circular and shareholder approval, which the company has already secured in writing from its controlling shareholder, removing the need for a general meeting and paving the way for implementation once conditions are met.
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 operations include financial leasing activities conducted through its wholly owned subsidiary, Chengtong Financial Leasing. The group uses sale-and-leaseback and related structured financing arrangements as part of its broader asset management and financial services focus in mainland China and Hong Kong.
YTD Price Performance: 11.11%
Average Trading Volume: 2,169,666
Technical Sentiment Signal: Sell
Current Market Cap: HK$714.3M
For a thorough assessment of 0217 stock, go to TipRanks’ Stock Analysis page.