Examples of Chengtong Financial Leasing in a sentence
The entering into the Sale and Leaseback Arrangement is in the ordinary and usual course of business of Chengtong Financial Leasing and it is expected that Chengtong Financial Leasing will earn an income of approximately RMB1.89 million (equivalent to approximately HK$2.04 million), being the total of (i) the Service Fee and (ii) the difference between the estimated amount of total lease payment under the Sale and Leaseback Arrangement and the Purchase Price of the Leased Assets.
The Purchase Price of the Leased Assets was agreed between Chengtong Financial Leasing and the Lessee with reference to the appraised value of the Leased Assets as at 19 March 2024 which amounted to approximately RMB30.92 million (equivalent to approximately HK$33.39 million) as assessed by way of cost method by an independent PRC valuer.
Credit enhancement measures Depending on the overall risks associated with a sale and leaseback arrangement, Chengtong Financial Leasing may request appropriate credit enhancement measure(s) on a case-by-case basis.
Lease payment The total amount of lease payment over the Lease Term is estimated to be approximately RMB31.52 million (equivalent to approximately HK$34.04 million), which shall be paid by the Lessee to Chengtong Financial Leasing in eight (8) instalments payable quarterly during the Lease Term.
The total amount of lease payment represents the sum of the lease principal amount (being the amount of Purchase Price to be paid by Chengtong Financial Leasing) and the lease interest which will be calculated on the then outstanding lease principal amount with a floating interest rate to be determined at a fixed premium over the LPR from time to time.
The Group’s leasing business is mainly carried out through Chengtong Financial Leasing as its principal business.
Xxxxxx’s right to repurchase the Leased Assets Upon the Lessee having paid all the lease payments and other payables (if any) to Chengtong Financial Leasing in accordance with the terms of the Sale and Leaseback Agreements, the Lessee shall have the right to repurchase the Leased Assets under the Sale and Leaseback Agreements at a nominal consideration of RMB1.00.
Chengtong Financial Leasing will monitor, among others, the financial conditions of the lessee(s) and the security provider(s) (if any) from time to time and may request the lessee(s) to provide security such as the payment of security money and the provision of corporate guarantee to safeguard its interests as the lessor as and when Chengtong Financial Leasing considers necessary.
The Lessee shall pay a one-off service fee of RMB375,000 (equivalent to HK$405,000) (“Service Fee”) to Chengtong Financial Leasing on the date of the payment of the Purchase Price under the Sale and Leaseback Agreements for the preliminary services provided by Chengtong Financial Leasing.
Legal title Chengtong Financial Leasing owns the legal title of the Leased Assets during the Lease Term.