Wang On Group announces sale and leaseback transaction

Wang On Group announced a major transaction involving the sale and leaseback of assets held by its subsidiary, China Agri-Products Exchange Limited (CAP), to Haier Financial Services China Co., Ltd. The transaction involves the sale and subsequent leaseback of construction projects and equipment in Puyang and Luoyang, PRC, for a total sale price of RMB71.4 million. Shareholders will vote on the proposal at a special general meeting (SGM) scheduled for July 4, 2025. The net proceeds from the transaction will be used for repayment of interest-bearing borrowings and for general working capital purposes. The move is structured as a financing arrangement and is expected to increase cash equivalents and other loans on the company's balance sheet. The register of members will be closed from June 30 to July 4, 2025, to determine eligibility to vote at the SGM.