China Development Bank Leasing acquires Wuzhong photovoltaic power station assets

China Development Bank Financial Leasing Co., Ltd. has entered into an asset transfer agreement to acquire the ownership of leased assets, creditor's rights, and security interests from PowerChina Leasing Co., Ltd. The transaction involves photovoltaic power station equipment and facility assets in Wuzhong City, Ningxia Hui Autonomous Region. The total transfer consideration for these assets is 1 bn yuan.

The acquisition also includes the transfer of rent receivables, comprising lease principal and lease interest. The lease principal matches the transfer consideration at 1 bn yuan, with an additional 370 m yuan in lease interest over a 192-month lease period. Payments will be made quarterly by Ningxia Daxin New Energy Co., Ltd. to the company. Ningxia Guochu New Energy Co., Ltd. provides a joint and several liability guarantee for the lessee's debt.

The company states this move aligns with its ordinary course of business, aiming to boost revenue from its finance lease operations and support its business development strategy.