China Chengtong Development Group Limited (HK:0217) has released an update.
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China Chengtong Development Group Limited announced a major transaction involving a sale and leaseback agreement through its subsidiary, Chengtong Financial Leasing, with a lessee connected to China State Railway Group Co., Ltd. The lease term is for three years and the agreement, which exceeds certain percentage ratios, requires shareholder approval, already obtained in writing from the controlling shareholder. A detailed circular will be distributed to shareholders by 18 October 2024.
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