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China Everbright Greentech Limited Acquires 90% Equity of Jiangsu Jiayuan Environmental Technology C

Date: 2019-01-03
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On December 27, 2018, Hong Kong –China Everbright Greentech Co., Ltd. (“Guangda Green” or “Company”) (Hong Kong stock code: 1257) is pleased to announce that the company has acquired Jiangsu Jiayuan Environmental Technology Co., Ltd. at a consideration of RMB180 million. 90% equity of the company ("Jiangsu Jiayuan").

 

Jiangsu Jiayuan is a resource recycling and environmental protection enterprise located in the Suzhou-Suixi region. It has long been committed to the comprehensive recycling and harmless disposal of printed circuit board (PCB)-related solid waste in the Yangtze River Delta region. Its main business is printed circuit. Disposal and resource utilization of industrial hazardous wastes such as copper-containing etching waste liquid and copper-containing sludge produced by the board; Jiangsu Jiayuan has two subsidiaries, including Jiangyin Zhongxin Resources Recycling Co., Ltd. (“Jiangyin Zhongxin”) As a wholly-owned subsidiary, Kunshan Zhonghuan Industrial Co., Ltd. (“Kunshan Central”) is its holding subsidiary, with a controlling stake of 68%.


In terms of project scale, Jiangsu Jiayuan can dispose of 65,000 tons of copper etching waste liquid, 10,000 tons of tin-removing waste liquid, 12,000 tons of nickel-containing waste liquid and 60,000 tons of heavy metal sludge, and is currently handling dangerous business licenses. It is put into operation at the end of the year; Jiangyin Zhongxin can dispose of 10,000 tons of copper-containing etching waste liquid every year, and it is currently operating normally; Kunshan Central can handle 23,000 tons of copper-containing etching waste liquid and 3,000 tons of tin-removing waste liquid every year, and it is currently operating normally. The acquisition will increase the scale of hazardous waste disposal of Everbright Green and Environmental Protection by 183,000 tons/year.

 

Mr. Qian Xiaodong, deputy general manager of China Everbright International Co., Ltd. and chief executive of China Everbright Greentech Limited, said: “This acquisition is an important measure for the development of the “three-degree” development strategy of Everbright Green and Environmental Protection, and it is also the realization of the company’s hazardous waste disposal business. There is a key step in the transformation of the 'incineration + landfill' business to the 'integrated utilization + physical and chemical + incineration + landfill' industry chain. After the completion of the merger, the proportion of hazardous waste disposal business in the company's overall business can be further The scale of the hazardous waste disposal and the scope of disposal will be further expanded, which will strengthen the market position of the company in the Yangtze River Delta region and even the national hazardous waste industry. It will continue to expand the market share of hazardous waste and build a benchmark for the hazardous waste industry. Businesses have important strategic implications."

 


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