China Chengtong Development Group Limited (SEHK:217) entered into an agreement to acquire Certain diesel generator, switch control cabinets, containers and ancillary equipment and facilities from Guangdong Ruihe Cloud Technology Co., Ltd. for CNY 225 million on February 24, 2023. Certain diesel generator, switch control cabinets, containers and ancillary equipment and facilities will Leaseback to Guangdong Ruihe Cloud Technology for five years. As per the agreement, If any of the conditions under the relevant Sale and Leaseback Agreements is not satisfied on or before April 24, 2023, Chengtong Financial Leasing shall have the right to unilaterally terminate the relevant Sale and Leaseback Agreements.

The shareholders of China Chengtong Holdings Group Ltd. has approved Sale and Leaseback Arrangements.