CDB Leasing inks RMB1.5 bn wind power lease deal

China Development Bank Financial Leasing Co. Ltd. (CDB Leasing) has entered into a finance lease arrangement with Harbin Shuangcheng District Huare Green Power Co., Ltd. (lessee) and Hunan Sany Smart New Energy Design Co., Ltd. (vendor). The transaction, dated November 14, 2025, involves CDB Leasing purchasing wind power station equipment from the vendor for RMB1.5 billion and subsequently leasing it to the lessee over a period of 216 months. The appraised value of the equipment is approximately RMB1.57 billion.

The total rent for the lease period, including value-added taxes, comprises a lease principal of RMB1.5 billion and lease interest of approximately RMB620 million. These payments will be made quarterly in installments. The leased assets are wind power station equipment owned by the lessee and located in Heilongjiang Province. Heilongjiang Huare Power Company Limited will provide a joint and several liability guarantee for the lessee's debt commitment.

This arrangement is part of CDB Leasing's ordinary business activities, aiming to increase revenue from its finance lease operations and align with its business development strategy. The transaction is classified as a discloseable transaction under Chapter 14 of the Listing Rules, requiring reporting and announcement but exempt from circular and shareholders' approval requirements.