Zhitong Finance App News, China Chengtong Development Group (00217) issued an announcement. On September 10, 2024, Chengtong Financial Leasing (an indirect wholly-owned subsidiary of the company) entered into a sale-leaseback agreement with the co-tenant (China Energy Saving Tiehan Ecological Environment Co., Ltd. and Haikou Hanshui Environmental Treatment Co., Ltd.). Chengtong Financial Leasing will purchase leased assets from the co-lessee and lease back to the co-tenant. The lease period is 2 years, but it can be terminated early in accordance with the terms and conditions of the sale-leaseback agreement.

The leased assets are a number of rainwater and sewage pollution control and engineering equipment for 11 water bodies and water environment comprehensive treatment projects in Haikou City, Hainan Province, China.

The sale-leaseback arrangement is established in the general and daily business process of Chengtong Financial Leasing, and it is expected that Chengtong Financial Leasing will earn approximately RMB 0.923 billion in revenue, that is, the sum of service fees and rental interest.