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FINWIRES

CDB Leasing to Buy 6.5 Billion Yuan of IT Equipment

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China Development Bank Financial Leasing (HKG:1606) agreed to purchase information technology and computer equipment worth about 6.48 billion yuan from Guangdong Shuhuan Zhilian Technology, according to a Wednesday Hong Kong bourse filing.

The equipment is mainly used for high-performance computing tasks, including large-scale data processing and cloud computing.

The company will fund the purchase with its own funds and/or commercial bank loans.

After the purchase, China Development Bank Financial Leasing will lease the equipment to third-party lessees under operating lease agreements.

Shares of the firm were up nearly 1% in Thursday morning trade.

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