15 Jul 2020
Everbright International Proposes to Change the Company Name, to Underscore Its Main Business and Support Future Development
15 July 2020, Hong Kong – China Everbright International Limited ("Everbright International" or the "Company") (SEHK: 257) announced today that it proposes to change the company name from "China Everbright International Limited" to "China Everbright Environment Group Limited" ("Everbright Environment"). The proposed change will be subject to the passing of a special resolution by the shareholders of the Company ("Shareholders") at the extraordinary general meeting to approve the change of the company name, and obtaining the approval for such a change by the Companies Registry in Hong Kong.
The proposed new name of the Company "Everbright Environment" aims to more intuitively reflect the Company's business scope and core direction of future develipment. The core word "Environment" in the new name succinctly signifies the Company's mindset of full-cycle development, while consolidating its traditional business, expanding into related new areas, and creating new growth momentum.
Since the Company transformed its major business to the environmental protection in 2003, Everbright International has been focusing on this sector for more than a decade. It has gradually set up a development layout that focuses on the areas of environment, resource and energy, with main businesses covering waste-to-energy and integrated waste treatment, biomass power generation, hazardous waste and solid waste treatment, environmental remediation, waste water treatment, reusable water, water supply, river-basin ecological restoration, equipment manufacturing, waste sorting, environmental sanitation integration, resource recycling, development of zero-waste cities, energy-saving lighting, analysis and testing, research and development relating to green technologies, ecological and environmental planning and designing, as well as environmental protection industrial parks. As of now, the Company has a business presence in over 190 locations across 23 provinces, municipalities and autonomous regions in China, with overseas business footprint in Germany, Poland and Vietnam.
Mr. Wang Tianyi, CEO of Everbright International, said: "As China's first one-stop integrated environmental solution provider, Everbright International has become the largest environmental protection enterprise in China. The Company ranked the top among over 100 listed environmental protection enterprises in China, in terms of revenue and net profit, for two consecutive years. Besides being awarded the Most Honored Company in Asia for many years in a row, it has also received various recognitions, from home and abroad, in the areas of corporate governance, sustainable development, social responsibility, etc. In the future, Everbright International will follow its ‘Three Domains' business layout, accelerate its strategic transformation, and pursue high-quality development, with the aim of becoming a world-leading ecological and environmental group. In order to align with the business and branding strategies for the next round of development, Everbright International has proposed to change the company name. The new name ‘Everbright Environment' will not only highlight the Company's business focus, but also demonstrate the Company's firm commitment to engaging in the environmental sector. Everbright International will consider this an opportunity to better focus on the environmental sector, so as to fulfil the best interest of the Shareholders and other stakeholders. The Company will also continue to promote the ‘three-win' situation for economic, environmental and social benefits through offering quality environmental services."