# Shanghai Electric subsidiary Shangzhong Forging to sell and lease back fixed assets to parent

Shanghai Electric's wholly-owned subsidiary Shangzhong Forging will sell and lease back production equipment including presses and furnaces to its parent company for RMB 126 million, with an annual lease fee of RMB 2.15 million.

- Type: Contract
- Announced: 2021-04-29
- Where: China
- Value: $19.4M (126.0M CNY)
- Status: announced
- Products: production equipment for forging
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Shangzhong Forging](https://endata.com/companies/54758.md)
- [Shanghai Electric](https://endata.com/companies/1068.md) (acquirer)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/463981.html), 2021-04-29: "本次上重铸锻向电气总公司出售上述资产，并转为对相关设备的长期售后回租，在保留上重铸锻核电关键锻件制造能力的同时，可以降低上重铸锻日常运营成本，补充上重铸锻运营资金。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.