Investment in Changzhou Everbright Low Carbon Economic Zone by Everbright International

The Company has signed the Framework Agreement with Changzhou Urban Management Bureau in respect of Changzhou Everbright Low Carbon Economic Zone ("Economic Zone"). Pursuant to the agreement, the parties will develop the projects within the Economic Zone cooperatively following the principle of " Forging Complementary Partnership, Creating Mutual Benefits, Consolidating of Economic and Social Efficiency". The Company will invest approximately RMB 1 billion to develop nine projects in two phases. The projects include integrated wind power & solar photovoltaic energy, solid waste landfill methane-to-energy & leachate treatment, integrated treatment of kitchen wastes, integrated treatment of construction wastes & incineration residues, integrated treatment of electronic waste, research & development on alternative energy, environmental protection education center, etc. Changzhou Urban Development Bureau will assist the Company to apply for eligible land and tax privilege, select project sites , conduct wind test and apply for project's approval, etc.

Economic Zone will fully realize the principles of "Centralizing process , Minimizing land usage , utilizing resource ". The parties will jointly work out the overall plan of the Economic Zone . The Company will be responsible for the investment, construction and operation of the projects which will be monitored by the local government. The Company will develop the projects in three to five years according to the overall plan of the Economic Zone and the principle of "Implementing the overall plan, Executing in phases, Applying for project's approval". With the support of the existing Changzhou Waste-to-energy Project, the Company will continue to develop the overall construction of the Economic Zone by focusing the themes on low carbon ecology, environmental friendly, resource minimization and recycle economy. The Company aims at developing a model low carbon economic zone among Yangtze River Delta region and further strengthen its leading position in the environmental protection industry in the PRC.