Anyang Iron & Steel secures RMB 150m in financing lease deal

Anyang Iron & Steel Company Limited's board of directors approved a financing lease agreement with Xiamen C&D Financial Leasing Co., Ltd. The deal, unanimously approved by all nine directors, involves a sale-and-leaseback arrangement for some of the company’s blast furnace sintering machines and associated power equipment. This transaction aims to provide crucial financing for business development and optimize the company’s capital structure.

The financing amount will not exceed RMB 150 million, with a lease term of up to three years. Xiamen C&D Financial Leasing Co., Ltd. is an independent third party, with no related party relationship to Anyang Iron & Steel or its controlling shareholders, classifying the deal as a non-connected transaction. The board has authorized the chairman to sign all necessary contracts and documents.

This financing initiative, utilizing existing production equipment, is expected to meet the company's business development needs without impacting current or future annual profits or losses. The deal does not involve personnel resettlement or land leases and was effective upon signing.