CECWPC(SH:601016) Zheng Quan Zhi Xing·2025-08-29 16:18Core Viewpoint - The company plans to engage in financing leasing and factoring business through its wholly-owned subsidiary to support the upgrade of the Manjing Phase IV project, aiming to reduce financing costs and optimize capital allocation [1][2]. Summary by Sections Transaction Overview - The subsidiary, Zhangbei Operation Company, intends to conduct a total financing of RMB 90 million, comprising RMB 68 million for financing leasing and RMB 22 million for factoring [1][2]. - The financing leasing will have a term of 5 years, while the factoring will last for 2 years [1][3]. Board Approval - The transaction has been approved by the company's board of directors, with no need for shareholder meeting approval due to the transaction amount [2][4]. Related Party Information - The leasing and factoring companies are wholly-owned subsidiaries of the company's controlling shareholder, and thus constitute related party transactions [4][6]. - The leasing company has total assets of approximately RMB 129.53 million and a net profit of RMB 657.52 million as of June 30, 2025 [4][6]. Transaction Details - The leasing involves the use of wind turbines and related equipment from the Manjing Phase III project as the leased asset, with a net asset value of RMB 73.96 million [7]. - The factoring involves the transfer of receivable subsidy electricity fees, which are free from any encumbrances or disputes [7]. Pricing Policy - The interest rates and fees provided by the related parties will not exceed those offered by other financial institutions for similar services, ensuring fair pricing [7][9]. Impact on the Company - The transaction is expected to facilitate the upgrade of the Manjing Phase IV project, optimize the company's capital structure, and enhance capital efficiency, aligning with the company's operational needs [7][9].