Everbright International Won Bid for Streetlight Upgrading Project for Urban Districts of Tengzhou City, Shandong Province

China Everbright International ("Everbright International" or the "Company") has recently won the bid for a streetlight upgrading project that will upgrade 11,000 streetlight devices for the urban districts of Tengzhou City, Shandong Province ("Tengzhou Project"). This marks the Company's third urban streetlight upgrading project based on an energy management contract ("EMC") model, following the streetlight upgrading projects in Rizhao and Ji'nan Cities, Shandong Province.

Tengzhou Project, which will be developed by the greenergy sector of Everbright International, will replace the high-pressure sodium lamps of streetlight devices in the urban districts of Tengzhou City with Everbright New Sodium Lamps. Under the EMC model, the government of Tengzhou City does not need to invest a penny in this project and will be able to share the benefits generated from the budget saved from the project. In contrast to the high-pressure sodium lamp, which has high energy consumption and poor color rendering, Everbright New Sodium Lamp has a number of advantages, such as good color rendering and temperature, strong fog penetration and endurance, small in size, and consumption of a few relevant materials. It is a product that delivers energy-saving, healthy and intelligent lighting. After the upgrading work is completed, the street lighting effect of Tengzhou City is expected to be significantly improved, with up to 50% lower in energy consumption than that before the upgrading work.

Mr. Wang Tianyi, CEO of Everbright International, said that Everbright International will further enhance its effort in expanding business in the environmental energy conservation sector in 2020. To begin with the research and development and manufacturing of products relating to integrated lighting projects and energy-conservation products, the Company will adopt the models of EMC, direct sales and EPC, to accelerate its market planning and strive to become China's first-class investor and operator in the environmental energy-saving lighting sector. In the future, Everbright will take a more open attitude and stay confident to accelerate innovative transformation, with the goal of developing a bigger development prospect that focuses on the areas of environment, resource and energy.