Press Release

07 Dec 2017

Everbright International Appoints Wang Tianyi as New CEO upon Chen Xiaoping's Retirement

7 December 2017, Hong Kong – The Board of China Everbright International Limited ("Everbright International" or the "Company") (HKSE: 00257) today announced that Mr. Wang Tianyi has been appointed as Chief Executive Officer ("CEO") of the Company, with effect from 1 January 2018, to succeed Mr. Chen Xiaoping, who will retire from his current roles at the Company.

Mr. Wang Tianyi joined Everbright International in February 2010 as Executive Director and General Manager. He has a wealth of experience in corporate management, and previously worked in several senior positions in universities and government organisations. With extensive familiarity with environmental protection sectors at home and abroad, Mr. Wang is currently an adjunct professor of Tsinghua University, Co-Director of the Center for Public-Private Partnership (PPP) in Tsinghua University, and a member of PPP Business Advisory Board at United Nations Economic Commission for Europe.

Mr. Wang Tianyi will assume the role of CEO, in replacement of Mr. Chen Xiaoping who will step back for retirement. Mr. Cai Yunge, Chairman of the Board of Everbright International, said at the announcement of the appointment, "We would like to appreciate Mr. Chen Xiaoping's exceptional, far-reaching contributions to Everbright International. He joined the Company as Executive Director and CEO in August 2001, when the Company was running in a difficult time. Under Mr. Chen's management and leadership over the past 16 years, Everbright International has emerged as China's first solid waste treatment company that delivers an annual revenue surpassing RMB10 billion. The Company has also become a leader in the environmental protection sectors in Asia and around the globe. For many years, Mr. Wang Tianyi closely assisted Mr. Chen Xiaoping with the development of business strategies to drive the Company's growth. We firmly believe that Mr. Wang will continue leveraging his rich experience and knowledge to lead the Company's future development."

Mr. Chen Xiaoping said, "I would like to express my gratitude to the Board of Everbright International for approving my retirement request. Thanks for the support from the Board for all these years. I joined Everbright International in 2001 and led the Company's development for 16 years, successfully transforming it into a leading player in the environmental protection industry from the brink of bankruptcy. The achievement benefits from the robust opportunities brought by the development of the country and the society in general, the long-term recognition and support from our shareholders and investors, as well as the hard work of the Company's founders and employees. I would like to take this chance to express my sincere appreciation for the attention and support from all sectors of the society. The strength of a country lies in enterprises, and the competitiveness of an enterprise lies in teamwork. I hope the new management team of Everbright International will be able to seize the huge business opportunities emerged from the industry's development, continuously pursue technological breakthroughs, increase business drivers and manage the momentum, and promote sustainable, steady development, with great responsibility of the world and the era and the courage to take on the responsibilities. As the entrepreneur of Everbright's environmental protection business, I will closely follow and support the Company's development, and cheer for every progress the new team make in the future."

Mr. Wang Tianyi said, "I am much honored to accept this appointment. Mr. Chen Xiaoping has established a corporate culture themed with integrity, pragmatism, efficiency and innovation. He has also developed a corporate team with full vitality and high motivation. Starting from a small team of over ten staff, the Company has grown into a large enterprise with more than 8,000 employees. We should continue upholding the innovation philosophy of the Company, developing environmental protection business with a great sense of social responsibility, enhancing our corporate governance practices, and making every effort to open up a new horizon for the Company in the future."