Concept - Operating lease refers to the business activity of transferring the use of tangible or intangible assets to others for a specified period without changing the ownership of the leased property. It can be categorized into tangible asset operating leases and real estate operating leases [2] - Financing lease is defined as a leasing activity that has financing characteristics and ownership transfer features, where the lessor purchases the asset based on the lessee's specifications and the ownership remains with the lessor during the lease term [5] - Financial sale-leaseback refers to a business activity where the lessee sells an asset to a financing leasing company for financing purposes and then leases it back from the same company [6] Tax Treatment - For operating leases, the tax category is sales service under modern services, and the tax obligation arises when the rental service is provided [8] - Financing leases also have tax obligations that arise when the taxable behavior occurs and payment is received [9] - For financial sale-leaseback, the tax category is sales service under financial services, and the tax obligation arises similarly to operating leases [10] Tax Rates - The general tax rate for tangible asset leasing is 13%, while for real estate leasing, it is 9% [11] - Small-scale taxpayers can choose a simplified tax rate of 3% for tangible asset leasing and 5% for real estate leasing [11][12] Tax Incentives - Approved financing leasing companies can benefit from a VAT refund policy if their actual tax burden exceeds 3% [15] - Small-scale taxpayers are not eligible for the immediate refund policy [16] Corporate Income Tax and Accounting Treatment - For operating leases, rental expenses can be deducted evenly over the lease term according to the Corporate Income Tax Law [24] - Under new accounting standards, lessees must recognize right-of-use assets and lease liabilities, leading to potential tax and accounting differences [30][32] - For financing leases, the lessee can deduct depreciation expenses based on the value of the leased asset, while the lessor cannot deduct depreciation for leased assets [39][40] Case Studies - A case study illustrates the accounting treatment for a company leasing an office building, highlighting the differences in tax treatment under old and new standards [28][29] - Another case study demonstrates the financial sale-leaseback process, showing how the lessee retains the asset on their balance sheet while recognizing a financial liability [48][50]

Group 1 - The company and its wholly-owned subsidiary, Sichuan Development Maglev Technology Co., Ltd., plan to engage in a financing sale-leaseback transaction with Shudao Leasing, involving a financing amount of 260 million yuan for a period of 3 years [1][5] - The transaction requires approval from the company's shareholders' meeting, with related parties abstaining from voting [2][7] - Shudao Leasing is controlled by the company's major shareholder, Shudao Investment Group, and is not a dishonest entity [3][4] Group 2 - The financing amount of 260 million yuan is based on a market-driven pricing mechanism, with an internal rate of return (IRR) not exceeding 5.30% [4][5] - The leased assets have a book value of no less than 323 million yuan and are free from any encumbrances or legal disputes [4][5] - The transaction aims to provide long-term funding support for the company's operations and optimize its debt structure without affecting the normal use of the leased assets [5][6] Group 3 - The independent directors unanimously approved the transaction, stating it is a routine financing activity that does not harm the interests of the company or its shareholders [6][7] - The company has previously engaged in similar transactions with Shudao Leasing, including a financing amount of 160 million yuan approved in January 2025 [6][8] - The company anticipates that total daily related transactions with Shudao Group and its controlled entities in 2025 will not exceed 68.407 million yuan [6][8]