China Chengtong Development Group Limited (HK:0217) has released an update.
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China Chengtong Development Group Limited, through its subsidiary Chengtong Financial Leasing, has entered into a significant sale and leaseback arrangement with a lessee, backed by China Baowu. This five-year deal, which involves leasing back assets to the original owner, represents a major transaction requiring shareholder approval. The company has already secured approval from its controlling shareholder, China Chengtong Hong Kong Company Limited, thus bypassing the need for a general meeting.
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