CDB Leasing (China Development Bank Financial Leasing Co., Ltd.) has signed an Asset Purchase Agreement with Shenzhen Skyworth Photovoltaic Technology Co., Ltd., acquiring a portfolio of residential photovoltaic (PV) power stations and related equipment for RMB 1.50 billion on 23 October 2026, after market close.
The acquisition covers distributed rooftop PV installations and ancillary equipment located across 12 provincial-level regions, including Beijing, Tianjin, Chongqing, Fujian, Guangxi, Hebei, Henan, Jiangsu, Jiangxi, Sichuan, Yunnan and Zhejiang. The purchase price was set with reference to the assets’ combined net book value of approximately RMB 1.50 billion.
Payment will be funded through the company’s internal resources and/or commercial bank borrowings, as stipulated in the agreement. Upon completion, CDB Leasing will act as lessor, deploying the assets under operating-lease arrangements with third-party lessees.
Management cited the deal as part of CDB Leasing’s normal course of business, aimed at leveraging its leasing expertise to expand market presence in China’s residential PV sector, which aligns with the group’s strategic focus on energy and inclusive finance segments. The board considers the terms fair and beneficial to shareholders.
Under Hong Kong Listing Rules, the transaction’s highest applicable percentage ratio exceeds 5 % but remains below 25 %, classifying it as a “discloseable transaction.” Consequently, it requires public disclosure but is exempt from shareholder approval and circular issuance. Shenzhen-based Skyworth Photovoltaic and its ultimate owner, Skyworth Group Limited, are deemed independent third parties to CDB Leasing.
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