Zhitong Financial News, Haitong Hengxin (01905) announced that on February 7, 2024, the company (as the seller and the original owner) entered into an asset sale and purchase agreement with Western ** (as the buyer and the manager of the asset-backed special plan), according to which the company agreed, and Western ** agreed to purchase the underlying assets for a total price of RMB 95.8 billion yuan.
The Company has appointed Western ** as the manager of the asset-backed special plan, which will issue asset-backed ** that can be traded on the Shanghai Stock Exchange under the asset-backed special plan. In order to set up an asset-backed special plan, the company signed an asset sale and purchase agreement and a service agreement with Western **.
According to the announcement, the company's main business is financial leasing, and accelerating asset turnover is conducive to increasing the overall profit margin. The Directors believe that the completion of the issuance** and asset-backed issuance will accelerate the overall turnover of the Company's assets and increase the total revenue generated. In addition, the proposed transfer of the underlying assets through this arrangement will advance the realization of the Company's future revenues, and the proceeds from the issuance of asset-backed ** will provide financial support for the Company's business development of new projects.