21 Apr 2020
Everbright International Participates in Everbright Belt and Road Green Equity Investment Fund, to Support Development of Green "Belt and Road" and to Grasp Opportunities from Development of Green Industry
21 April 2020, Hong Kong – China Everbright International Limited ("Everbright International" or the "Company") (SEHK: 257) is pleased to announce today that the Company, through its wholly-owned subsidiary, has entered into a limited partnership agreement with China Everbright Group Ltd. ("Everbright Group"), a controlling shareholder of the Company, and wholly-owned subsidiaries of China Everbright Limited ("CEL"), to participate in Everbright Belt and Road Green Equity Investment Fund ("Everbright Green Investment Fund" or the "Fund").
Pursuant to the limited partnership agreement, Everbright International will contribute RMB500 million to the Fund through its wholly-owned subsidiary, Everbright Environmental Protection (China) Limited (as a limited partner). The contributed capital represents approximately 33% of the total capital commitments of the Fund as at the date hereof. As parties involved in the agreement, Everbright Group (as a limited partner) and CEL Venture Capital (Shenzhen) Limited (as a limited partner), a wholly-owned subsidiary of CEL, will contribute RMB500 million to the Fund, respectively.
Everbright Green Investment Fund will focus on ecological environmental protection and green development, as well as focusing on China and markets along the "Belt and Road" route. While exploring diverse investment models, the Fund will invest in enterprises relating to green environment, green energy, green manufacturing and green living, among others.
Mr. Wang Tianyi, CEO of Everbright International, said: "Everbright Green Investment Fund is an official outcome of the Second Belt and Road Forum for International Cooperation. Meanwhile, practices in pursuit of green development, as well as ecological environmental protection, has become a development consensus and an urgent need across the globe. Everbright International will focus on supporting key national strategies, and further its corporate mission of ‘Devoting to Ecology and Environment for a Beautiful China’ and its accountability as a centrally-administered state-owned enterprise. The Company will provide feasible advice and full support to Everbright Green Investment Fund, and contribute to the improvement of ecological environmental management proficiency in the ‘Belt and Road’ countries and regions."
Mr. Wang Tianyi emphasised, "Everbright International will consider its participation in Everbright Green Investment Fund an opportunity to further diversify its financing channels, enrich the market expansion methods and boost its market position, in an effort to strongly support the Company’s implementation of its long-term development strategy."