Tianjin Kairuikang Enterprise Management Consulting Partnership (Limited Partnership), Shenzhen Capital Group Co., Ltd. and Shenzhen City Energy Group Co., Ltd signed an equity transfer agreement to acquire an unknown stake in CIMC Financial Leasing Co., Ltd from China International Marine Containers (Group) Co., Ltd. (SZSE:000039) for CNY 1.8 billion on November 23, 2021. Pursuant to the terms, (i) China International Marine Containers (Group) Co., Ltd. shall transfer the registered capital of approximately CNY 549.9 million in CIMC Financial Leasing to Shenzhen Capital Group at the consideration of approximately CNY 1,336.8 million; and (ii) shall transfer the registered capital of approximately CNY 205.7 million to Shenzhen City Energy Group at the consideration of approximately CNY 500 million. The consideration shall be paid in two installment of 80% to be made within 5 business days after satisfaction of conditions and 20% within 5 days after it have been approved by the relevant industry authority, antitrust authority and completion.

In another transaction of capital increase the registered capital of CIMC Financial Leasing Co., Ltd will be increased from approximately CNY 1,428.7 million to CNY 1,481.4 million, which will be owned as to approximately (i) 53.3185% collectively by Shenzhen Capital Group and its subsidiary, Shenzhen City Energy Group; (ii) 45.4318% collectively by the Company and CIMC HK; and (iii) 1.2497% by Tianjin Kairuikang. Post completion, China International Marine Containers will hold 21.3216%, CIMC HK will hold 24.1102%, Shenzhen Capital Group will hold 39.4335%, Shenzhen City Energy Group will hold 13.885% and Tianjin Kairuikang will hold 1.2497% stake. Shenzhen Capital Group shall be entitled to nominate three directors; (ii) Shenzhen City Energy Group shall be entitled to nominate one director; (iii) China International Marine Containers shall be entitled to nominate two directors; and (iv) CIMC HK shall be entitled to nominate one director.

As on August 31, 2021, total asset and net asset of CIMC Financial was CNY Transaction is subjected to the approval of shareholders of China International Marine Containers (Group) Co., Ltd, industry authority and antitrust authority. Board of China International Marine Containers (Group) Co., Ltd. recommend the shareholder to vote in favor of the transaction in the EGM. Innovax Capital Limited acting as a independent financial advisor to China International Marine Containers (Group) Co., Ltd. for the transaction.