CDB Leasing Signs RMB1.62 Billion Wind Power Finance Lease with Ningxia Zecheng New Energy

Bulletin Express03-27

China Development Bank Financial Leasing Co., Ltd. (CDB Leasing) has entered into a finance lease agreement with Ningxia Zecheng New Energy Co., Ltd., the company disclosed on 27 March 2026 after market close.

Under the pact, CDB Leasing will purchase wind-power generation equipment in Ningxia Hui Autonomous Region from the lessee for RMB1.62 billion and immediately lease the assets back for 132 months. The leased assets have an appraised value of approximately RMB1.97 billion, based on procurement and installation costs assessed through the lessor’s internal review.

Lease payments comprise a principal equal to the purchase price of RMB1.62 billion and total interest of about RMB320.00 million, both payable quarterly in Renminbi over the lease term. At the end of the lease, the lessee may repurchase the equipment for a nominal RMB100.

Funding will come from CDB Leasing’s own resources and/or commercial loans. Jiaze Renewables Corporation Limited, ultimate parent of the lessee, provides a joint-and-several guarantee for all obligations under the agreement.

The transaction falls within ordinary course of business and, with the highest applicable percentage ratio between 5% and 25%, is classified as a discloseable transaction under Hong Kong Listing Rules, requiring announcement but not shareholder approval.

CDB Leasing stated that the deal will enhance revenue from its core finance-lease operations and aligns with its strategic focus on green energy assets.

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