Everbright Environment Signs Strategic Cooperation Agreement with China Machinery Engineering Corporation

On the morning of 27 October 2020, China Everbright Environment Limited ("Everbright Environment" or the "Company") and China Machinery Engineering Corporation ("CMEC") held a signing ceremony for their strategic cooperation at Everbright Environment’s headquarters in Shenzhen City. Pursuant to the agreement, the two parties will utilise advantages in their professional skills and resources and establish a long-term cooperative partnership to jointly promotes the development of their overseas businesses. Wang Tianyi, Chairman of the Board and CEO of Everbright Environment, and Fang Yanshui, CEO of CMEC, attended the signing ceremony. Hu Yanguo, Deputy General Manager of Everbright Environment, also participated in the event.



According to the agreement, the two parties will adhere to the principles of mutual benefits and development, and work together in a long-term strategic cooperative relationship in the environmental protection sector, including waste-to-energy, biomass power generation, hazardous waste and solid waste treatment, river-basin treatment and waste water treatment. By making full use of each party’s advantages to promote the expansion of their environmental protection businesses overseas, both sides will proactively seek to accomplish all-round strategic cooperation, and jointly promote green development under the Belt and Road initiative.



Wang Tianyi welcomed Fang Yanshui and his team, and summarised the overall development of Everbright Environment through an introductory video. He noted that Everbright Environment has developed into the world’s largest waste-to-energy project investor and operator, and is focusing on establishing a new business model that covers three major areas, namely environment, resources and energy. Waste sorting and resource recycling are the two areas that have led the Company to further explore in the resources sector. Everbright Environment also fully endorses its "Five Points in One Line" model, the technological waste transportation route and smart rubbish bins for waste sorting. Separately, the Everbright New Sodium Lamp has become the product that has led the Company to gain access to the energy sector. Everbright Environment has secured several municipal streetlight retrofitting projects, applying the advantages gained via high energy-saving efficiency. Meanwhile, the Company has established its research and development ("R&D") system that has one research institute with presence in four cities, in order to better facilitate its development strategy that is driven by technological innovation and to build its core competitiveness in the waste-to-energy sector.

Wang Tianyi said that CMEC has been committed to developing new energy and other businesses overseas for years. The company has achieved remarkable results backed by its rich experience and brand influence. Currently, Everbright Environment is focusing on the geographical and business areas for a smooth progress in overseas expansion. The Company has business presence in the overseas markets of Germany, Poland and Vietnam, successfully exporting its technologies, equipment, experience in investment, construction and operation, as well as the PPP (Public-Private Partnership) business model. Everbright Environment will continue to promote innovation, transformation and development, and increase the proportion of its overseas business investment while promoting the process of internationalisation. Wang Tianyi said that he hoped to take this agreement signing as an opportunity to explore further cooperation in the field of environmental protection, and work together with CMEC to promote the exploration of and their cooperation in internationalisation and overseas business – all while jointly promoting the green and sound development of the Belt and Road initiative.



Fang Yanshui said that Everbright Environment is the leading enterprise in the domestic environmental protection industry, with advanced concepts and operational models in the industry, in addition to prominent advantages in technologies, professional capabilities and overall strength. CMEC is committed to the development of overseas business, with engineering contracting at its core business, alongside trade, investment, R&D and international services that altogether form its "4 + X" business structure. Facing the challenges brought by the impact of the international environment and the COVID-19 pandemic, CMEC is looking for a transformation in markets and the new energy sector. It has proactively followed the Belt and Road initiative to promote the development of boutique projects. Fang Yanshui said that CMEC attaches great importance to its cooperation projects with Everbright Environment, and will take full advantage of its international layout to enact an all-round strategic cooperation. He added that he hoped to achieve a strong alliance with Everbright Environment where they can both reap mutual benefits.

The meeting was attended by the management of relevant departments and sectors at Everbright Environment, together with the management of relevant departments at CMEC.