15 May 2013
Everbright Environmental Protection Signs Strategic Cooperation Framework Agreement with Shenzhen Municipal GovernmentBuilds on Business and Resource Platforms to Promote
Development of Environmental Protection Industry in Shenzhen
May 15, 2013, Hong Kong - China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 00257) is pleased to announce that its wholly-owned subsidiary, Everbright Environmental Protection (China) Limited ("Everbright Environmental Protection"), has signed a strategic cooperation framework agreement (the "Agreement") with the Shenzhen Municipal People's Government. A strategic cooperation committee has been established to jointly promote the Group's development in environmental protection and the alternative energy businesses in Shenzhen.
Everbright Environmental Protection is the mainland management headquarter of the Group. It is responsible for the overall management of the Group's four business subsidiaries including construction engineering, operation management, technology development and equipment manufacturing. Everbright Environmental Protection and its subsidiaries have invested RMB350 million of registered capital in Shenzhen. Pursuant to the Agreement, Everbright Environmental Protection will strategically develop its business in Shenzhen and its surrounding areas. It will increase its investment in Shenzhen by planning to establish the National/Provincial environmental protection industrial parks that addresses services such as waste integrated disposal, solid waste treatment, solar photovoltaic energy, wind power generation and urban waste water treatment. Everbright Environmental Protection will also participate in environmental research and development, the establishment of industry standards and environmental science education in Shenzhen.
Mr. Chen Xiaoping, Chief Executive Officer of the Group, said, "In 2003, the Group transformed into an enterprise focusing on environmental protection. We achieved this by initially setting up a subsidiary in Shenzhen as a platform to establish our presence in the environmental protection field in the PRC. The Group has now evolved into a one-stop integrated environmental solutions provider. Our strategic cooperation with the Shenzhen Municipal People's Government highlights our careful and planned deployment in Shenzhen and the city's peripheral areas. The Group will continue to enhance the operational efficiencies of its new projects in the environmental protection and alternative energy sectors in order to achieve significant growth in these areas. Meanwhile, by actively participating in the construction of the city, we are confident that we can contribute to urban development of Shenzhen."