Leader Education (01449) announced that on December 27, 2023, the Group entered into a sales contract (Hisense), consulting service agreement (Hisense) and financial leasing agreement (Hisense) with Hisense Leasing relating to financial leasing arrangements (Hisense).
According to the sales contract (Hisense) and financial lease agreement (Hisense), Hisense Leasing (as lessor) purchased leased assets from Heilongjiang Business University (as tenant) for 30 million yuan (RMB, same below); and the lessor leased the leased assets back to the lessee for 36 months, with a total lease payment of $32.9306 million, including a financial lease principal amount of $30 million and financial lease interest of $2,9306 million.
According to reports, leased assets (Hisense) include laboratory equipment, furniture, electronic equipment, displays, books, etc. The unaudited book value of the leased assets (Hisense) on December 18, 2023 was approximately $43.1026 million.