Everbright Environment Announces Luan Zusheng as New CEO of the Company

27 May 2021, Hong Kong – The board of China Everbright Environment Group Limited ("Everbright Environment" or the "Company", stock code 257.HK) today announced that Mr. Luan Zusheng will be appointed as the chief executive officer ("CEO") of the Company and join the board of the Company (the "Board") as the executive director, while Mr. Wang Tianyi will remain as the executive director and chairman of the Board. The above-mentioned arrangements will take effect from 1 June 2021.

Mr. Luan Zusheng is currently the director of each of Sun Life Everbright Life Insurance Co., Ltd. and Everbright Financial Holding Asset Management Co., Ltd., with extensive experience in corporate management and related fields. He holds a master's degree in accounting from the Department of Accounting of Nankai University and a doctorate degree in political economics from the Department of Economics of Nankai University. Mr. Luan is also a certified intermediate accountant in the People's Republic of China. Prior to joining Everbright Environment, Mr. Luan was the director of the office and the officer for deepening reform of the leading group office for the comprehensive deepening reform, and the secretary general of the office of China Everbright Group Ltd., the controlling shareholder of the Company. He also previously undertook multiple senior roles at China Everbright Bank Company Limited.

Mr. Luan Zusheng said, "I am honored to join Everbright Environment, the largest domestic and world-renowned environmental company. In recent years, Everbright Environment, under the leadership of Mr. Wang Tianyi and with the unremitting efforts of the management team and all employees, has achieved steady development and solidified its industry leading position. As the China government's emphasis on and support for the ecological and environmental protection continues to increase, I am fully confident in the prospects of the Company and also the ecological and environmental protection industry. I look forward to working with the Board of directors, management team and all staff, as we continue to advance the development of Everbright Environment and scale new heights."

Commenting on the new appointment, Mr. Wang Tianyi said, "We are pleased to announce the appointment of Mr. Luan Zusheng as CEO of Everbright Environment. Mr. Luan has rich experience in corporate management, financial markets and related fields, which is an invaluable asset and advantage that can help the Company further promote business optimisation, as well as enhance corporate efficiency and vitality. In addition, the roles of the chairman of the Board and the CEO to be performed by two individuals help the Company to comply high-level corporate governance practices of listed companies. We truly believe Mr. Luan will leverage his extensive experience and knowledge and work with the management team to continue the Company's strategic transformation and high-quality development, create better investment value, undertake more social responsibilities, and advance steadily towards the goal of becoming a ‘world-leading ecological and environmental group'."