China Chengtong Development Group Limited (HK:0217) has released an update.
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China Chengtong Development Group Limited has entered into a significant sale and leaseback agreement through its subsidiary, Chengtong Financial Leasing, involving assets related to railway operations in Inner Mongolia. This arrangement, classified as a major transaction due to its financial magnitude, has already received shareholder approval without the need for a general meeting. The deal highlights the company’s strategic alignment with China National Railway Group Corporation and its focus on the transportation sector.
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