According to the Zhito Finance APP, Concord ne (00182) announced that on November 29, 2024: (a) Lessee A, Fengning Manchu Autonomous County Juting New Energy Development Co., Ltd. (a wholly-owned subsidiary of the company) and Lender A, China Resources Finance Leasing Co., Ltd. agreed on the following financing lease arrangement A, under which Lender A will purchase supporting facilities (supporting facilities for all solar energy equipment at Power Station A) for a purchase price of RMB 0.3 billion and lease these facilities back to Lessee A, in return, Lessee A must pay quarterly lease payments;

and (b) Lessee B, Yilan County Incremental Mixed Reform New Energy Co., Ltd. (the company owns 70% of this subsidiary) and Lender B, Shanghai Yuexiu Finance Leasing Co., Ltd. agreed on the following financing lease arrangement B: (i) Lessee B and Lender B entered into Procurement Agreement B, under which Lender B will purchase equipment (used for wind power equipment at Power Station B) for a purchase price of approximately RMB 0.271 billion; and (ii) Lessee B and Lender B entered into Financing Lease Agreement B, under which Lessee B will lease the equipment from Lender B during the lease period B, in return, Lessee B must pay quarterly lease payments.

The announcement states that the financing lease arrangements are made in the course of the group's daily and general business operations, allowing the group to obtain the financial resources necessary for its operations and certain equipment needed. The director believes that the terms of the financing lease arrangements are made on normal commercial terms, are fair and reasonable, and are in the overall interest of the shareholders. The supporting facilities and equipment had an unaudited carrying value of approximately RMB 0.571 billion as of October 31, 2024. According to Hong Kong Financial Reporting Standards, the proposed trades under the financing lease arrangements will not result in any gain or loss from the sale for the group.