China Development Bank Financial Leasing Co., Ltd. Announces Major Asset Purchase in Residential Photovoltaic Sector

Hong Kong, 29 April 2026 – China Development Bank Financial Leasing Co., Ltd. (“the Company”, Stock Code: 1606) has announced the execution of a significant asset purchase agreement with Shanghai Trina Power Co., Ltd., marking a major step in expanding its operating lease business in the renewable energy sector.

Key Highlights of the Announcement

• Asset Purchase Agreement Signed: On 29 April 2026, the Company entered into an agreement to purchase residential photovoltaic power stations and ancillary equipment located in Guangdong, Jiangsu, and Anhui Provinces from Shanghai Trina Power Co., Ltd.
• Total Consideration: The transaction is valued at approximately RMB 2,851,000,000.
• Source of Funding: The purchase will be funded through the Company’s own funds and/or commercial bank loans.
• Business Model: Upon completion, the Company will lease these assets to third-party lessees under operating lease agreements, aiming to increase its market share in the residential photovoltaic new energy sector.
• Strategic Rationale: The transaction aligns with the Company’s business development strategy and is expected to enhance synergies, leveraging the strengths of all parties involved.

Details and Implications for Shareholders

• Aggregation of Transactions: This transaction follows a previous acquisition made on 6 March 2026, where the Company agreed to purchase similar assets in Guangdong, Hubei, and Jiangsu Provinces at a consideration of RMB 795,000,000.
• Listing Rules Compliance: While each transaction individually did not exceed the 5% threshold for reporting under Chapter 14 of the Hong Kong Listing Rules, both transactions are aggregated because the seller and previous sellers are ultimately controlled by Trina Solar Co., Ltd. Upon aggregation, the highest applicable percentage ratio exceeds 5% but is below 25%, making this a discloseable transaction. As such, it is subject to reporting and announcement requirements but exempt from circular and shareholders’ approval requirements.
• Independent Transactions: The seller, Shanghai Trina Power Co., Ltd., and its ultimate beneficial owner, Trina Solar Co., Ltd., are confirmed as independent third parties of the Company and its connected persons.
• Potential Share Price Impact: This acquisition signals aggressive expansion into the high-growth residential photovoltaic sector and demonstrates the Company’s commitment to renewable energy. Investors should note the significant capital allocation and potential for increased leasing revenue streams, which could positively influence future financial performance and share value.

Company and Seller Background

• China Development Bank Financial Leasing Co., Ltd.: Established in 1984 and listed on the Hong Kong Stock Exchange, the Company provides comprehensive leasing services across aviation, shipping, energy, high-end equipment, and inclusive finance sectors.
• Shanghai Trina Power Co., Ltd.: A PRC-based limited liability company principally engaged in photovoltaic power generation equipment and component sales. Its ultimate beneficial owner, Trina Solar Co., Ltd., is listed on the Shanghai Stock Exchange.

Why This Matters for Investors

• Sector Expansion: The move into residential photovoltaic power station leasing is expected to diversify the Company’s leasing portfolio and capture growth in China’s renewable energy market.
• Capital Deployment: Shareholders should monitor the Company’s use of RMB 2.85 billion in new assets, as well as the performance of these assets under the operating lease model.
• Regulatory Disclosure: The transaction’s classification as a discloseable transaction ensures transparency but does not require shareholder approval, streamlining execution.
• No Historical Profit Data: The Seller did not provide separate profit figures for the acquired assets, so investors should watch for future disclosures on asset performance.

Directors’ Statement

The Board considers the terms of the Asset Purchase Agreement to be fair and reasonable, and in the best interests of the Company and its shareholders as a whole.

Board Composition

As of the announcement date, the Board consists of Executive Director Ms. Ma Hong, Non-executive Directors Mr. Zhang Kesheng and Mr. Zhang Chuanhong, and Independent Non-executive Directors Mr. Liu Ming, Mr. Wang Guiguo, and Ms. Liu Siqin.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to review the official company announcements and consult their financial advisors before making investment decisions. The Company is not an authorized institution under the Banking Ordinance and is not subject to supervision by the Hong Kong Monetary Authority.

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