HONGHUA GROUP (00196): Honghua Electric Enters Operating Lease Agreement with Taiping Petrochemical-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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HONGHUA GROUP (00196): Honghua Electric Enters Operating Lease Agreement with Taiping Petrochemical

Stock News2025-08-24

HONGHUA GROUP (00196) announced that on August 22, 2025, Taiping Petrochemical (as lessor) and the company's subsidiary Honghua Electric (as lessee) entered into an operating lease agreement. Under this agreement, Honghua Electric has agreed to lease operating lease assets from Taiping Petrochemical, with quarterly lease payments of RMB 8.9963 million. The initial lease term is 36 months, and under certain circumstances, the lease term will be extended by 24 months according to the operating lease agreement.

The operating lease assets consist of 16 units of 6,000 horsepower electric fracturing pumps along with related control systems and supporting equipment. The operating lease agreement was entered into by the lessee in the ordinary and usual course of its business.

The company believes that entering into this operating lease agreement will help address the anticipated equipment supply gap, strengthen the lessee's ability to provide uninterrupted services to meet business demands, and will help stabilize the supply chain, ensure operational continuity, and optimize procurement costs.

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