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Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H ( (HK:1635) ) has provided an announcement.
Shanghai Dazhong Public Utilities’ subsidiary Dazhong Financial Leasing has agreed to acquire certain assets from substantial shareholder Dazhong Business Management for RMB59 million, based on a valuation above their net book value. The assets, originally acquired for about RMB91.8 million and now appraised at roughly RMB64.9 million, will then be leased back to Dazhong Business Management under a finance leasing contract.
The arrangement constitutes both a connected transaction and a continuing connected transaction under Hong Kong listing rules, triggering reporting and announcement obligations but not independent shareholders’ approval, as the relevant percentage ratios fall between 0.1% and 5%. The deal effectively monetizes assets for the shareholder while deepening intra-group financial leasing activity, signaling continued use of structured leasing to optimize asset utilization and balance sheet management within the group.
More about Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
Shanghai Dazhong Public Utilities (Group) Co., Ltd. is a Chinese public utilities group with a presence in financial leasing through its non-wholly owned subsidiary Dazhong Financial Leasing. The company’s shareholder base includes Dazhong Business Management, a substantial shareholder that also engages in asset transactions and leasing arrangements with the group.
Average Trading Volume: 108,415,830
Technical Sentiment Signal: Hold
Current Market Cap: HK$16.54B
For a thorough assessment of 1635 stock, go to TipRanks’ Stock Analysis page.