Zhitong Finance App News, Xixiangfeng Group (02473) issued an announcement. On January 31, 2024, Xixiangfeng Group (the company's indirect wholly-owned subsidiary) entered into a financial leasing framework contract with Dongfeng Nissan. Dongfeng Nissan (as lessor) agreed to provide a financing amount of up to RMB 262 million to Xixiangfeng Group (and/or its subsidiaries or associated companies) (as a lessee), which can be withdrawn from time to time by the lessee within the term of the financial lease framework contract in accordance with the terms and conditions of the financial lease framework contract; and every time the lessee withdraws, Relevant sales to Dongfeng Nissan are required Leased assets, and Dongfeng Nissan later leased the leased assets back to the lessee in exchange for monthly rent payments.

According to reports, leased assets refer to certain automobiles owned by Xibeng Group or its subsidiaries or joint ventures. They are the main assets of the sale-leaseback arrangement under the financial leasing framework contract, and must be specified in individual sale-leaseback contracts to be concluded between Xibeng Group and Dongfeng Nissan in accordance with the financial leasing framework contract.

As an automobile retailer, the Group purchases automobiles from time to time from suppliers (including but not limited to subsidiaries or distributors of Dongfeng Motor Group Co., Ltd. (Dongfeng Motor)) to trade in the Group's daily and general business processes. The financial leasing framework contract allows the Group to obtain financing for the relevant automobile purchases, while the Group retains leased assets that can be used in its daily and general business processes. By entering into a financial leasing framework contract, the Group can broaden its financing channels, supplement the capital required for its operations, and seize opportunities to expand its business.