SPT ENERGY's subsidiary has signed a financing lease agreement for oil and gas extraction equipment in Xinjiang
SPT ENERGY signed a financing lease agreement with Zhongguancun Science and Technology Leasing Co., Ltd., involving oil and gas extraction equipment in Xinjiang. In the agreement, the lessee will sell its own assets to the lessor for RMB 14 million and lease them back for 36 months, with a total lease payment of RMB 15.5787 million. This transaction aims to enhance the lessee's liquidity and working capital situation, and the funds will be used to repay bank loans, purchase equipment, and increase working capital
According to the announcement from SPT ENERGY (01251), on October 31, 2025, the lessor, Zhongguancun Science and Technology Leasing Co., Ltd., entered into a financing lease agreement with the lessee, Nineteen (an indirect subsidiary of the company, Xinjiang Huayou Oil and Gas Engineering Co., Ltd.). Under this agreement, (i) the lessee Nineteen has agreed to sell its owned assets (i.e., the leased assets Nineteen) to the lessor for a transfer price of RMB 14 million; and (ii) the lessor has agreed to lease back the leased assets Nineteen to the lessee Nineteen for a term of 36 months. The total lease payments under the financing lease agreement Nineteen amount to RMB 15.5787 million, including financing lease principal of RMB 14 million and financing lease interest (including VAT) of RMB 1.5787 million.
The leased assets Nineteen refer to the oil and gas extraction equipment stored in Xinjiang under the financing lease agreement Nineteen.
The board believes that entering into the financing lease transaction Nineteen will enhance the liquidity of the lessee Nineteen, improve its working capital situation to optimize its asset and debt structure, and support its business and operational activities. The proceeds from the financing lease transaction Nineteen will be used to repay bank loans, purchase equipment, and increase the group's general working capital needs
