SMIC is only a lessee of Core Xin Leasing, and the borrower provides financial leasing services for Core Xin Leasing, and the proportion of leased assets is decreasing year after year. SMIC, on the other hand, is a minority shareholder of Cores International, with a stake of only 7.44 per cent, and the management of SMIC leases is not directly controlled by SMIC.
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