Concord unit sells equipment in $21.7m leaseback deal

The lease term is 15 years.

Concord New Energy Group has announced that Xishui Juhe entered into a finance lease agreement with Yangtze Financial Leasing.

Under the agreement, Yangtze Financial Leasing will purchase certain equipment from Xishui Juhe for $21.7m (RMB151m) and lease it back to Xishui Juhe.

The purchase price was determined through arm’s length negotiations with reference to the equipment’s book value and the group’s financing needs, and is expected to be paid by the end of January 2026.

The lease term is 15 years, commencing from the date the purchase price is paid. Xishui Juhe will make quarterly lease payments comprising the purchase price and interest.

The lease bears a floating interest rate equal to the over-five-year lending rate minus 30 basis points.

The initial interest rate is 3.2% and will be adjusted annually.

Assuming the interest rate remains at 3.2% throughout the lease term, total lease payments are expected to be approximately $27.5m (RMB191.33m).

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