Lide Education (01449.HK) announced that Heilongjiang Industrial and Commercial College, an affiliated entity of the company, has entered into a number of financial leasing arrangements. Among them, Heilongjiang Industrial and Commercial College yesterday (30th) agreed to sell the leased assets to Chengtai with 19 million yuan (the same below) and lease back the assets to it, with a total lease payment of 21.2 million yuan. Chengtai Information Technology authorizes Heilongjiang Industrial and Commercial College to use a number of software at a cost of 1 million yuan.
On September 18 this year, Heilongjiang Industrial and Commercial College sold the leased asset to Shanghai International Capital for 30 million yuan, and the Heilongjiang Industrial and Commercial University rented back the asset, with a total lease payment of about 35.02 million yuan.
On August 31 this year, Heilongjiang Industrial and Commercial College sold leased assets to Haier for 60 million yuan and leased back the assets to Haier, with a total lease payment of 68.1 million yuan. Haier provided financial leasing consulting services for Heilongjiang Industrial and Commercial College with a service fee of 1.8 million yuan. In another agreement with Haier on November 24 last year, Heilongjiang Industrial and Commercial College sold the leased asset to Haier for 15 million yuan and leased it back to Haier, with a total lease payment of about 17 million yuan. Haier charged Heilongjiang Industrial and Commercial College 450000 yuan for this transaction.
According to the company, when the finance lease arrangement was entered into before November 2021, the directors did not know that the finance lease arrangement would constitute a notifiable transaction under the listing rules because they had misunderstood the application of the listing rules. The Group has taken a number of remedial measures as follows.