Concord NE (00182) has signed a financing lease agreement with China Merchants Finance Leasing (Tianjin) for several wind power equipment used in power stations.

Zhitong Finance ·  Jun 14 20:41

Concord NE (00182) announced in a statement that on June 14, 2024, the lessee (a wholly-owned subsidiary of the company)...

Concord NE (00182) announced in a statement that on June 14, 2024, the lessee (Fuxin Mongolian Autonomous County Xingda Wind Power Generation Co., Ltd., a wholly-owned subsidiary of the company) and the financier CMSTD Financial Leasing (Tianjin) Co., Ltd. reached a financing lease arrangement through a financing lease agreement. The financier will purchase equipment from the lessee for a purchase price of RMB 315 million and lease the equipment back to the lessee during the lease term. The lessee shall pay the leasing fee to the financier quarterly as consideration.

The equipment includes several wind power equipment (including wind turbines, main transformers, cables, and other wind power equipment) used for power generation station.

The announcement stated that the financing lease arrangement was made in the normal course of the group's daily business operations, enabling the group to obtain the financial resources and equipment needed for its operations. The director believes that the terms of the financing lease arrangement were made on a fair and reasonable commercial basis and are in the overall interests of the shareholders.

The translation is provided by third-party software.

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