-- China Chengtong Development (HKG:0217) said its Chengtong Financial Leasing unit entered into a sale and leaseback arrangement with a unit of China Huadian, according to an April 17 Hong Kong bourse filing.
Shares of the property developer were up over 1% in morning trade on Monday.
Under the arrangement, Chengtong Financial Leasing will purchase wind power equipment and related assets for 220 million yuan and lease them back for two years for about 227.6 million yuan.
The transaction is expected to generate lease interest income of about 7.6 million yuan for the unit.