News Release
18 Dec 2019

Everbright International Brightens up the City of Springs
Securing a Project to Upgrade 120,000 Streetlight Devices and to Establish a Streetlight Manufacturing and R&D Base in Ji'nan City
CEO of Everbright International Wang Tianyi Meets Mayor of Ji'nan Sun Shutao and Attends Project Signing Ceremony

On 17 December 2019, a project signing ceremony was held in Ji'nan City between China Everbright International ("Everbright International" or the "Company") and Ji'nan Municipal Government ("Ji'nan government"). Pursuant to the project agreement, Everbright International will upgrade 120,000 streetlight devices in Ji'nan City and provide maintenance services, based on an energy management contract ("EMC") model. In the meantime, the Company will invest in and establish a base in the city that focuses on manufacturing and R&D of energy-saving streetlight. Mr. Wang Tianyi, CEO of Everbright International, met Mr. Sun Shutao, Mayor of Ji'nan, and attended the project signing ceremony. The ceremony was also attended by Mr. Wang Jingwen, Vice Mayor of Ji'nan, Mr. Yin Qingzhong, Secretary-General of Ji'nan, together with major officials from the city's investment promotion bureau, finance bureau, natural resources and planning bureau, urban administration bureau, as well as the management of Everbright International's business sectors, namely Greenergy, Environmental Energy, Environmental Water and Eco-recycling.

During the meeting with Mr. Sun Shutao, Mr. Wang Tianyi said that Everbright International is a state-owned and foreign enterprise. With such a dual identity, the Company adheres to the corporate mission of being "Devoted to Ecology and Environment for a Beautiful China". By continuously boosting its business scale and profitability, its business portfolio has been constantly upgrading. As a result, it has been ranked the top among the Top 50 Chinese Environmental Protection Enterprises in 2019 by All-China Federation of Industry and Commerce and one of the world's largest waste-to-energy investors and operators. While the Company continues growing and strengthening its environmental protection businesses, it has been proactively expanding into the fields of resources and energy, which helps form a wider business portfolio that covers environment, resources and energy. In the field of energy, Everbright International leverages energy-saving lighting to tap into the energy sector. The Company has launched the Everbright New Sodium Lamp product series, based on its technological collaborations with experts from the Tsinghua University, which marks the Company's foray into the streetlight sector. The new sodium lamp has outstanding features in "saving energy and resources, benefiting livelihood, and being well received by the public". Mr. Wang Tianyi expressed the gratitude on behalf of the Company for the trust and support from the Ji'nan government over the past years. He said that Ji'nan is an important market for Everbright International as the Company has made the largest investment and has the most comprehensive business portfolio in the city. The cooperation between Everbright International and Ji'nan government in the energy-saving lighting sector marks another success for the strategic partnership between the two parties. The streetlight upgrading project based on the EMC model will lead to a win-win-win situation, in which the government could save budget, the enterprise could make profit, and the local residents could benefit from the project. Everbright International will facilitate Ji'nan to develop into a new hub for China's energy-saving lighting industry.

Mr. Sun Shutao said that Everbright International is a trustworthy partner, and its services are praiseworthy. The Company has been highly accountable and professional throughout the negotiations with Ji'nan government. The outcome of the negotiations has fully demonstrated the Company's corporate pursuit of "Creating Better Investment Value and Undertaking More Social Responsibility". The cooperation between the two parties shows an ideal public-private collaboration model, which nurtures mutual support and benefit towards a win-win situation. Ji'nan is not only Everbright International's best partner but is on its way to becoming a platform where Everbright International promotes its brand. Following the preliminary testing, Everbright New Sodium Lamp is able to effectively improve the lighting effect while significantly reducing energy consumption. Moreover, the upgrading process is easy, and the maintenance is affordable and reliable. With unique advantages in geographical location, industrial development and human resources, Ji'nan will help boost the development of Everbright International's new sodium lamp products and become the base for the R&D, manufacturing and promotion of Everbright International's energy-saving lighting business. Mr. Sun Shutao hopes that both parties further collaborate in the area of energy conservation and accelerate the implementation of the project agreement. In the meantime, both parties are expected to explore more cooperation opportunities in the fields of ecological and environmental protection, resource utilisation, among others.

New benchmark for energy-saving lighting

Everbright New Sodium Lamp is an upgrade of the high-pressure sodium lamp, which is currently a major product used for streetlight. The new sodium lamp is able to significantly enhance the lighting effect, making the light as gentle and bright as sunlight in the early morning; it is also able to greatly reduce energy consumption by saving up to 50% in electricity. Considering energy conservation as priority, the streetlight upgrading project will only replace lightbulbs and light ballasts of the existing street lights in order to save as many resources as possible. Separately, Everbright New Sodium Lamp has significant advantages in terms of light transmittance, durability and light source safety. The lamp products were exhibited at a large-scale exhibition on the achievements of the People's Republic of China (PRC) in the past seven decades.

New public-private collaboration model

The new sodium lamp project is based on the EMC model. Pursuant to the project agreement, the project will upgrade a total of 120,000 streetlight devices in Ji'nan City. It is considered the first project of this type secured by Everbright International in a provincial capital city, an important strategic move in the rapid development of Everbright International's lighting business segment. Ji'nan government does not need to invest a penny in this project, which will significantly improve the lighting effect for the city, but will be able to share the benefits generated from the budget saved from the project. Everbright International will be able to earn satisfactory returns by providing quality lighting product and relevant maintenance services. Additionally, by establishing a base for the R&D, manufacturing and promotion of the new sodium lamp products in Ji'nan, the Company aims to facilitate the city to replace old drivers of growth with new ones, and work with the city to develop a demonstration hub for the green and energy-saving lighting industry.

Background information

Ji'nan, the capital of Shandong Province, also known as the City of Springs, is the central city in the southern wing of the Bohai Economic Rim, planned by the State Council of the PRC. The city has ten districts and two counties under its jurisdiction, with a total area of 10,244 km2 and a built-up area of 561 km2. It has a permanent population of 7.604 million and an urban population of 5.389 million. Ji'nan is located in the East of China and is the core city of the Shandong Peninsula urban agglomeration. It connects the capital economic circle to the north, the Yangtze River Delta economic circle to the south, and the Shandong peninsula from the east to the west. It is also one of the central cities in the Bohai area and the middle and lower reaches of the Yellow River.

Everbright International has invested in Ji'nan since October 2006. To date, the Company has invested in 25 environmental protection projects with a total investment of nearly RMB8.8 billion, covering a number of districts in the city, such as Zhangqiu, Laiwu and Xike. Among these projects, 21 projects are in operation, with two project under construction and one project in preparatory stage. There are four waste-to-energy projects with a total designed daily household waste processing capacity of 3,450 tonnes, which are all in operation; 20 waste water treatment projects, with a total designed daily waste water treatment capacity of 1.39 million tonnes, and an operating daily waste water treatment capacity of 1.242 million tonnes; and one acquisition of a waste sorting company, Shandong Quxiang Information Technology Company Limited.