China Chengtong’s Major Sale and Leaseback Deal

China Chengtong Development Group Limited (HK:0217) has released an update.

China Chengtong Development Group Limited has entered into significant sale and leaseback agreements through its subsidiary, Chengtong Financial Leasing, involving PowerChina Real Estate and several co-lessees. These arrangements, which involve the purchase and subsequent leasing back of assets for a two-year term, are considered major transactions under Hong Kong’s Listing Rules due to their scale. The company has secured shareholder approval without the need for a general meeting, ensuring a smooth continuation of its strategic financial activities.

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