[ET Net News Agency, 14 February 2018] GCL-Poly Energy (03800) said it agreed to
provide security over the repayment obligations of its subsidiary Lanxi Jinrui Solar Power
Generation Co., Ltd. under the finance lease agreements entered into with Sino IC Leasing
Co., Ltd.
Lanxi Jinrui holds two 20MW solar power station projects in Lanxi City, Zhejiang
province, PRC. Sino IC Leasing purchased from Lanxi Jinrui assets including solar modules,
frames, combiner boxes, inverters, transformers, electricity distribution equipment,
cables, cabinets and other solar power equipment used for the Lanxi project at Rmb236.5
million. Sino IC Leasing agreed to lease the assets to Lanxi Jinrui for a term of one year
following the acquisition at an aggregate rent of about Rmb249 million. In addition, Sino
IC Leasing was engaged to provide certain consulting services to Lanxi Jinrui for an
aggregate fee of Rmb4.73 million. (HL)
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03800 GCL TECH
Nominal 
1.150 +0.060 (+5.505%) Others
14/02/2018 11:18
GCL-Poly Energy inks finance lease deal with Sino IC Leasing
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