Gelonghui, April 29, 丨 Volkswagen Public (01635.HK) announced that on April 29, 2024, Volkswagen Financial Leasing (a non-wholly-owned subsidiary of the company) entered into ownership transfer agreements and financial leasing contracts with Volkswagen Enterprise Management, Volkswagen Starlight, Volkswagen Wanxiang and Shanghai Yixiang. Volkswagen Financial Leasing transfers the assets of Dazhong Enterprise Management, Volkswagen Starlight, Volkswagen Wanxiang, and Shanghai Yixiang. At the same time, the assets shall be leased back to Dazhong Enterprise Management, Volkswagen Starlight, Volkswagen Wanxiang, and Shanghai Yixiang, while Dazhong Enterprise Management, Volkswagen Starlight, Volkswagen Wanxiang, and Shanghai Yixiang are obligated to pay rent.
According to the title transfer agreement, the transferor agreed to sell and the transferee agreed to buy the assets at a cost of RMB 145 million. Assets refer to 564 taxis (with operating license), equipment and ancillary works, which are the subject of ownership transfer agreements and financial leases.
Asset ownership transfers and leaseback help transfers/lessors expand business scale and increase stable income. The transferor/lessee is well qualified. The risks associated with current financial leasing are relatively small, which can ensure that rental income does not harm the interests of small and medium shareholders.