Investor Relations
Press Release
23 Aug 2019

Everbright International Establishes a Joint Venture Company with Jinglang Photoelectric, Marking a Foray into Energy Conservation Service Sector

Hong Kong, 23 August 2019 – China Everbright International Limited ("Everbright International" or the "Group") (HKSE: 257) announces that the Group has signed a cooperation agreement with Beijing Jinglang Photoelectric Technology Co., Ltd. ("Jinglang Photoelectric") to jointly establish Everbright Jinglang Greenergy and Lighting (Shenzhen) Limited ("Everbright Greenergy"), a joint venture company in which Everbright International holds a 60% equity stake. The establishment of Everbright Greenergy marks the Group's entry into the energy conservation service sector.

Everbright Greenergy focuses on the research and development ("R&D") and manufacturing of energy conservation street lights, urban outdoor lighting projects, as well as other types of energy-saving lighting products, offering comprehensive lighting solutions to conserve energy and reduce emissions. By providing such services, Everbright Greenergy aims to realise smart lighting through the intelligent control of outdoor lighting devices, as well as healthy lighting through the research and improvement of parameters of light sources. Everbright Greenergy will begin its business with the launch of its major product Everbright Greenergy White Sodium Lamp. It is devoted to facilitating cities and regions to fully upgrade their energy-saving lighting networks based on different models, such as the energy management contract ("EMC") and direct purchase.

With top experts and an elite research team in China's lighting field, Everbright Greenergy has unique technical advantages of the R&D team from Tsinghua University, in addition to Everbright International's abundant market resources and branding advantages in the ecological and environmental protection sector. Backed by such a comprehensive and strong collaboration, Everbright Greenergy adheres to its business philosophy of "Lighting up China with Energy Conservation Technologies", and is bound to be a new player in China's energy-saving lighting sector.

Everbright Greenergy White Sodium Lamp has a number of advantages, such as high light efficiency, good color rendering, high color temperature, anti-glare effect, good fog penetration, a long working life, ease of replacement and outstanding energy efficiency. As compared with the high-pressure sodium lamp, which is currently widely used for street lighting in China, the Everbright Greenergy White Sodium Lamp is 60% smaller in size but is able to reduce energy consumption by as much as 50%. This type of lamp can be used at various outdoor scenarios, such as streets, squares, airports, railways, bridges, ports, tunnels and factories. Based on the EMC model, which has been promoted by Everbright Greenergy, the government authorities and other types of clients do not need to invest a penny in the street lighting upgrading projects, but they will be able to share the benefits brought by energy conserved from such projects.

Mr. Wang Tianyi, CEO of Everbright International, said at the signing ceremony for the establishment of Everbright Greenergy, "As an important part of the energy conservation and environmental protection industries, the energy conservation service sector already reached RMB477.4 billion in terms of industrial output value in 2018. According to the 13th Five-year Development Plan for Energy Conservation and Environmental Protection Industries, the industrial output value of the energy conservation service sector is expected to increase to as much as RMB600 billion by 2020, indicating huge market potential. With continuous effort, Everbright International has grown into the largest domestic environmental protection enterprise, as well as the largest waste-to-energy investor and operator in Asia. The Group also strives to become the strongest integrated service provider on waste sorting and the development of ‘zero-waste cities' in China. It has not only established a golden brand based on its green business, but has also built up extensive urban resources and good mutual trust with the government authorities. Now, Everbright International has made a foray into the energy conservation service sector, which is built upon its traditional businesses in the fields of ecological protection and environmental management. Through the collaboration with Tsinghua University, Everbright International taps into this new market by seizing opportunities arising from the upgrading of billions of high-pressure sodium lamps across the country. By integrating R&D, manufacturing, sales and the EMC model, the Group will explore a win-win-win situation that could help the government authorities to save budget, benefit the public and also generate business profit. Everbright International aims to contribute to the development of an energy conservation and low-carbon society, as well as to create a new engine that drives the high-quality and sustainable development of the Group."

To date, Everbright Greenergy White Sodium Lamp has been in trial use for street lighting in selected cities in the country. These lamps have brought a brighter visual perception and significantly improved lighting effects, bringing more luminous lights for the streets while conserving 50% of the energy consumption.