ZGC TEC LEASING (01601.HK): Enters into Finance Lease Agreement to Acquire and Lease Back Thermoforming Parts Production Assets for 36 Months at a Transfer Price of RMB 49 Million

NewTimeSpace News: On 14 September 2026, Zhongguancun Science-Tech Leasing Co., Ltd. (stock code: 01601) announced that it entered into a finance lease agreement with the lessee as lessor, under which the lessor will purchase the lessee's own leased assets at a transfer price of RMB 49 million and lease the leased assets back to the lessee for a lease term of 36 months, with total lease payments of approximately RMB 54.38 million.

According to the announcement, the leased assets comprise laser cutting machines and other assets related to the production of thermoforming parts, with a net book value of approximately RMB 56.24 million. The total lease payments comprise a finance lease principal of RMB 49 million and finance lease interest income (including VAT) of approximately RMB 5.38 million, and the lessee is required to pay the lease payments to the lessor in quarterly instalments (payable at the end of each period) during the lease term. The transfer price of the leased assets will be funded by the Company's general working capital and internal resources. If the lessee has duly and fully performed all of its obligations under the finance lease agreement, it is entitled to acquire the leased assets at a nominal value of RMB 100 upon expiry of the agreement. The agreement is dated 14 September 2026, and the lessee will commence the lease within five business days after signing. The terms under the finance lease agreement, including the transfer price of the leased assets, the finance lease principal, the finance lease interest income and other fees, were determined by the lessee and the lessor after arm's length negotiations with reference to the net book value of the leased assets and the prevailing market prices of similar finance lease products in China.

The announcement disclosed that the lessee is a joint stock company established in China principally engaged in the research and development, production and sale of automotive lightweight products. Its equity interest is held as to 26.0858%, 10.5066% and 10.2040% by Chen Yang, Anhui Hezhuang High-Tech Achievements Fund Partnership (Limited Partnership) and Wuxi Jierui Investment Enterprise (Limited Partnership) respectively, with the remaining equity interest held by not fewer than 22 shareholders, each holding not more than 8%. After making all reasonable enquiries, and to the best of the Directors' knowledge, information and belief, the lessee and its ultimate beneficial owners are independent third parties other than the Company and its connected persons. As security and guarantee arrangements, one ultimate beneficial owner of the lessee provides a joint and several liability guarantee in respect of the lessee's obligations under the finance lease agreement.

As for the Company itself, it is a pioneer in serving China's technology and new economy companies and is a finance leasing company. As the only finance leasing platform under Zhongguancun Development Group Co., Ltd., it provides finance leasing and operating leasing solutions and diversified advisory services, with its finance leasing solutions mainly taking the form of direct leasing and sale and leaseback. The Company's principal business is the provision of finance leasing and advisory services to customers, and entering into the finance lease agreement is part of its ordinary and usual course of business and is expected to generate stable income and cash flow for the Company. As the highest applicable percentage ratio in respect of the finance lease agreement is more than 5% but less than 25%, the transactions under the finance lease agreement constitute a discloseable transaction of the Company and are subject to the notification and announcement requirements under Chapter 14 of the Listing Rules.

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