Everbright Environment Secures Shengze Waste Transfer Service Project in Suzhou City, Jiangsu Province

8 March 2021, Hong Kong – China Everbright Environment Group Limited ("Everbright Environment" or the "Company") (SEHK: 257) is pleased to announce that the Company has recently secured Shengze Town Waste Transfer Service Project ("Shengze Project" or the "Project") in the Wujiang District of Suzhou City, Jiangsu Province, with an investment of approximately RMB77.11 million.

Pursuant to the project agreement, Shengze Project will be operated and managed by Everbright Environmental Protection (China) Limited, a wholly-owned subsidiary Everbright Environment, for an operating period of 25 years. The relevant service fee during the operating period has been included in the annual fiscal budget and mid-term fiscal plan for the Shengze Town, with an estimated total amount of approximately RMB800 million. The Project will be responsible for the waste transfer system across the Shengze Town, including: 1) Nantang Transfer Station, with a maximum transfer capacity of 800 tonnes/day; 2) 11 small-scale transfer stations; and 3) 6 resource recycling stations for organic waste. According to the current waste transfer demand in Shengze Town, the Project is expected to have an annual waste transfer capacity of approximately 186,000 tonnes.

Under the administration of the Wujiang District of Suzhou City in Jiangsu Province, Shengze Town is located in the central area of the Yangtze River Delta and the Taihu Lake region, with Huzhou City and Jiaxing City of Zhejiang Province in the south, Suzhou City in the north, Shanghai Municipality in the east, and the Taihu Lake in the west. Backed by its well-developed economy, Shengze Town has been shortlisted among the top 10 in China's Top 1,000 towns ranking for many consecutive years. As of now, Everbright Environment has developed waste-to-energy, food waste treatment and other businesses in the Wujiang District. Securing Shengze Project will help improve the Company's "Five-Point-in-One-Line" technical process for waste sorting.

Mr. Wang Tianyi, Chairman of the Board and CEO of Everbright Environment, said: "Securing Shengze Project marks a crucial step forward in Everbright Environment's ‘Five-Point-in-One-Line' technical process layout, and demonstrates the Company's active participation in the waste treatment market of the Yangtze River Delta through a more diversified business portfolio. This has helped the Company to solidify its new source of business growth, as well as to speed up its strategic transformation and formation of its development layout that focuses on the areas of environment, resources and energy. In recent years, Everbright Environment has been proactively exploring and fostering upstream business along the waste treatment industry chain. While striving to dig out the value and profit from the industry chain, the Company has been trying to further control the scale and whereabouts of waste treated to ensure proper reuse and end-disposal of waste. Going forward, Everbright Environment will adhere to its corporate mission of being ‘Devoted to Ecology and Environment for a Beautiful China', further enhance its high-quality development and marketisation level, and develop Shengze Project into an industry benchmark, in an attempt to participate in and facilitate the development of zero-waste cities in China."