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FINWIRES

Hing Yip Unit Enters 65 Million Yuan Finance Lease Deal; Shares up 3%

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Hing Yip (HKG:0132) said that its subsidiary, Greengold Leasing, entered into finance lease agreements worth 65 million yuan with Dingxing Longyuan Heating, according to a Wednesday Hong Kong bourse filing.

Under the agreements, Greengold Leasing will acquire heat supply equipment from the lessee and lease the assets back for 75 months.

The leases are expected to generate total lease payments of about 85.1 million yuan, including 20.1 million yuan in interest.

Hing Yip said the transaction is part of Greengold Leasing's ordinary business and is expected to provide stable revenue and cash flow. The leases are backed by guarantees, equity pledges and security interests over the assets and receivables.

Shares of the firm were up nearly 3% in Thursday morning trade.

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