ZGC TEC LEASING (01601) entered into a finance lease agreement for ground station equipment and 21st century space technology applications.

ZGC TEC LEASING (01601) announced that on November 15, 2024, the company entered into a financing lease agreement III with the tenant, 21st Century Space Technology Applied Co., Ltd. (i) The lessor will purchase lease asset III from the tenant at a transfer price of RMB 30 million; and (ii) the lessor will lease back asset III to the tenant for a lease term of 36 months, with total lease payments of approximately RMB 32.9404 million, including a financing lease principal of RMB 30 million and financing lease interest income (including VAT) of approximately RMB 2.9404 million. Asset III is ground station equipment used by the tenant for remote sensing satellite data services, with a book value of approximately RMB 37.4609 million. The directors believe that entering into financing lease agreement III will generate income and profits for the company during the lease term, aligning with the company's business development strategy. As financing lease agreement III was entered into on normal commercial terms, the directors believe that its terms are fair and reasonable, and are in the best interests of the company and its shareholders overall.