China Development Bank Financial Leasing Co., Ltd. Acquires Photovoltaic Assets in RMB1 Billion Deal

China Development Bank Financial Leasing Co Ltd Class H ( (HK:1606) ) has issued an update.

China Development Bank Financial Leasing Co., Ltd. has entered into an Asset Transfer Agreement with PowerChina Leasing Co., Ltd., Ningxia Daxin New Energy Co., Ltd., and PowerChina Shanghai Electric Power Engineering Co., Ltd. The agreement involves the transfer of ownership of photovoltaic power station equipment and facility assets located in Wuzhong City, Ningxia Hui Autonomous Region, China. The transaction, valued at RMB1,000,000,000, is classified as a discloseable transaction under the Listing Rules, requiring reporting and announcement but exempt from circular and shareholders’ approval. This move signifies a strategic expansion in the renewable energy sector, potentially enhancing the company’s asset portfolio and positioning within the industry.

The most recent analyst rating on (HK:1606) stock is a Buy with a HK$2.00 price target. To see the full list of analyst forecasts on China Development Bank Financial Leasing Co Ltd Class H stock, see the HK:1606 Stock Forecast page.

More about China Development Bank Financial Leasing Co Ltd Class H

China Development Bank Financial Leasing Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It is not an authorized institution within the meaning of the Banking Ordinance and is not authorized to carry on banking or deposit-taking business in Hong Kong. The company is not subject to the supervision of the Hong Kong Monetary Authority.

Average Trading Volume: 5,575,548

Technical Sentiment Signal: Buy

Current Market Cap: HK$21.24B

Find detailed analytics on 1606 stock on TipRanks’ Stock Analysis page.