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FINWIRES

ZGC Sci-Tech Leasing Signs CNY35 Million Sale-and-Leaseback Deal

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Zhongguancun Science-Tech Leasing (HKG:1601) entered into a 35 million yuan sale-and-leaseback agreement with a methyl methacrylate producer, according to a Monday filing with the Hong Kong bourse.

Under the 36-month agreement, the company will acquire the lessee's incinerator equipment and lease it back for total payments of about 37.8 million yuan, including 2.8 million yuan in finance lease interest.

The company said the finance lease agreements are expected to provide stable revenue and cash flow while supporting its business development strategy.

Shares of the leasing company were down over 1% in Tuesday's late morning trade.

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