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    1601   CNE100003Q08

ZHONGGUANCUN SCIENCE-TECH LEASING CO., LTD.

(1601)
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Zhongguancun Science-Tech Leasing Co., Ltd. Finance Lease Agreement

09/24/2021 | 08:26am EST

The Board of Zhongguancun Science-Tech Leasing Co., Ltd. hereby announces that on September 24, 2021, the company entered into the Finance Lease Agreement with the Lessee, pursuant to which (i) the Lessor shall acquire the Leased Assets owned by the Lessee at a transfer consideration of RMB 55,000,000; and (ii) the Lessor shall lease the Leased Assets back to the Lessee for a term of 60 months with a total lease payment of RMB 62,608,054, which shall include a finance lease principal of RMB 55,000,000 and a finance lease interest income of RMB 7,608,054 under the Finance Lease Agreement. To the best of the Directors' knowledge, information and belief after having made all reasonable esquires, the Lessee and its ultimate beneficial owner are all independent third parties of the Company and its connected persons. The Leased Assets are steam boilers and all auxiliary facilities located in Xinjiang Uygur Autonomous Region, the PRC, with a net book value of approximately RMB 69,448,377. The Lessee does not separately calculate the profits before and after tax of the Leased Assets. The transfer considerations for the acquisition of the Leased Assets under the Finance Lease Agreement will be funded by the Company's internal resources. The lease period of the Finance Lease Agreement is 60 months, which shall commence on September 24, 2021. Under the Finance Lease Agreement, the total lease payment of RMB 62,608,054 included the finance lease principal of RMB55,000,000 and the finance lease interest income of RMB 7,608,054. The Lessee shall pay the lease payment to the Lessor at the end of each quarter in installments in accordance with the terms and conditions of the Finance Lease Agreement during the lease period. The terms of the Finance Lease Agreement, including the transfer consideration for the Leased Assets, finance lease principal, finance lease interest income and other expenses under the Finance Lease Agreement, were determined upon arm's length negotiation between the Lessee and the Lessor with reference to net book value of the Leased Assets and prevailing market prices of the same category of finance lease products in the PRC.


ę S&P Capital IQ 2021
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Financials
Sales 2021 652 M 103 M 103 M
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 8,39%
Capitalization 858 M 135 M 135 M
Capi. / Sales 2021 1,32x
Capi. / Sales 2022 1,19x
Nbr of Employees 124
Free-Float -
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,64 CNY
Average target price 1,11 CNY
Spread / Average Target 72,6%
Managers and Directors
Rong Feng He General Manager & Executive Director
Wen Huang CFO, Board Secretary & Executive Director
Hong Wei Duan Chairman
Jian Zhang Chairman-Supervisory Board
Dong Yue Cheng Independent Non-Executive Director