China Development Bank Leasing in RMB1.22bn finance lease deal

On November 27, 2025, China Development Bank Financial Leasing Co., Ltd. entered into a finance lease agreement with Qinghai Huangnan Yuedian New Energy Co., Ltd. Under the agreement, the lessor will purchase photovoltaic power station facilities from the lessee for RMB1,220,000,000 and then lease them back over 192 months. The leased assets have a net book value of approximately RMB1,500,000,000.

The total rent, inclusive of value-added taxes, comprises a lease principal of RMB1,220,000,000 and approximately RMB400,000,000 in lease interest. Payments will be made quarterly in installments. This transaction is classified as a discloseable transaction under Chapter 14 of the Listing Rules.

The transaction is part of the company's ordinary course of business, aiming to increase revenue from its finance lease operations and aligns with its business development strategy. The directors view the terms as fair, reasonable, and beneficial to the company and its shareholders. The lessee and its ultimate beneficial owner are independent third parties.