Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

CANVEST ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED

(1381)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Canvest Environmental Protection : Acquires 30% Equity Interest Of An Innocuous Treatment Facility Operator In Langzhong City At RMB$12.75 Million In Total - Expand Into The Solid Waste Processing Market In Sichuan Province And Deepen The Strategic Partnership With SIHL

06/11/2021 | 12:50am EST

[Press Release]

Canvest Acquires 30% Equity Interest Of

An Innocuous Treatment Facility Operator In Langzhong City

At RMB$12.75 Million In Total

* * * * *

Expand Into The Solid Waste Processing Market In Sichuan Province And Deepen The Strategic Partnership With SIHL

(11 June, 2021, Hong Kong) - Canvest Environmental Protection Group Company Limited ("Canvest" or the "Company," collectively with its subsidiaries the "Group;" stock code: 1381), a leading waste-to-energy("WTE") and environmental hygiene and related services provider in China, is pleased to announce that on 10 June 2021, World Prosperous, Canvest's indirect wholly-ownedsubsidiary, entered into the Share Purchase Agreement to acquire 30% equity interest of Sichuan SIIC Environmental Investment Development Co., Ltd. ("Target Company") for a consideration of approximately RMB12,750,000 (approximately HK$15,555,000); and undertake the shareholder's loan of the Target Company.

The Target Company was established in the PRC with a registered capital of RMB40,000,000. Sichuan Development Equity Investment Fund Co., Ltd. (四川產業振 興發展投資基金有限公司), which is ultimately controlled by the Sichuan Provincial People's Government, and SIIC Environmental Holdings (Wuhan) Co., Ltd. (上實環境 控股(武漢)有限公司), which is ultimately controlled by the Shanghai State-owned Assets Management Office, owned 40% and 30% equity interest of the Target Company respectively.

Canvest Acquires 30% Equity Interest of

An Innocuous Treatment Facility Operator in Langzhong City At RMB$12.75 Million In Total

11 January 2021 / Page 2

The Target Company operates the innocuous treatment facility in Langzhong city and had entered into an operating agreement with the government of Langzhong in 2013 for a total of 20 years. The Target Company owns 85% of equity interest in Langzhong Mingcheng, which holds the BOT concession right project in Langzhong city, Sichuan Province. The daily municipal solid waste processing capacity of the WTE plant is 350 tonnes.

Ms. Loretta Lee, Chairlady of Canvest, said, "In addition to the joint development of the Baoshan WTE plant located in the Yangtze River Delta region, the acquisition continues to demonstrate the successful strategic partnership between the Group and SIHL, and enable the Group to commence the cooperation with Sichuan Development Equity Investment Fund Co., Ltd. The Group is determined to seize the development opportunities of the solid waste processing market in Sichuan Province. The acquisition will enable the Group to expand its geographical presence in the Sichuan Province and facilitate the investment and acquisition of other solid waste processing companies in the future."

~ End ~

About Canvest Environmental Protection Group Company Limited

Canvest Environmental Protection Group Company Limited is a leading provider of urban environmental management services, focusing on waste-to-energy ("WTE") and the provision of environmental hygiene and related services. Currently, the Group has 34 WTE projects, and a number of its operating projects have been awarded "Grade

  1. Innocuous Waste Incineration Plant", the highest grade in the rating system.
    Going forward, Canvest will continue to expand its WTE portfolio and capture new business opportunities in integrated smart city management services. The Company was listed on the Main Board of Hong Kong Stock Exchange on 29 December 2014 (stock code: 1381), and is an eligible stock for southbound trading through Shenzhen- Hong Kong Stock Connect.

Canvest Acquires 30% Equity Interest of

An Innocuous Treatment Facility Operator in Langzhong City At RMB$12.75 Million In Total

11 January 2021 / Page 3

Media enquiry:

Strategic Financial Relations (China) Limited

Emailsprg-canvest@sprg.com.hk

Ms Anita Cheung

Tel: (852) 2864 4827

Ms Evan Lu

Tel: (852) 2114 4963

Ms Christina Chong

Tel: (852) 2864 4899

Disclaimer

Canvest Environmental Protection Group Co. Ltd. published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 04:49:02 UTC.


ę Publicnow 2021
All news about CANVEST ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED
09/27Canvest Environmental Protection Group Company Limited Declares Dividend for the Six Mo..
CI
08/24CANVEST ENVIRONMENTAL PROTECTION : Announces Satisfactory 2021 Interim Results Profit Attr..
PU
08/24Canvest Environmental Protection Group Company Limited Reports Earnings Results for the..
CI
08/24Canvest Environmental Protection Group Company Limited Declares an Interim Dividend for..
CI
08/05Canvest Environmental Protection Group Company Limited Enters into Facility Agreement w..
CI
07/08CANVEST ENVIRONMENTAL PROTECTION : Outstanding Corporate Management and ESG Practices High..
PU
07/02CANVEST ENVIRONMENTAL PROTECTION : Entered into Strategic Cooperation Agreement with China..
PU
06/30CANVEST ENVIRONMENTAL PROTECTION : Subsidiary to Acquire Two Investment Holding Firms for ..
MT
06/29CANVEST ENVIRONMENTAL PROTECTION : Entered into Strategic Cooperation Agreement with China..
PU
06/11CANVEST ENVIRONMENTAL PROTECTION : Acquires 30% Equity Interest Of An Innocuous Treatment ..
PU
More news
Financials
Sales 2021 6 176 M 792 M 792 M
Net income 2021 1 370 M 176 M 176 M
Net Debt 2021 8 947 M 1 147 M 1 147 M
P/E ratio 2021 7,45x
Yield 2021 2,67%
Capitalization 10 270 M 1 317 M 1 317 M
EV / Sales 2021 3,11x
EV / Sales 2022 2,99x
Nbr of Employees 3 798
Free-Float 19,6%
Chart CANVEST ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED
Duration : Period :
Canvest Environmental Protection Group Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CANVEST ENVIRONMENTAL PROTECTION GROUP COMPANY LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 4,21 HKD
Average target price 5,51 HKD
Spread / Average Target 30,9%
EPS Revisions
Managers and Directors
Guo Zhen Yuan Chief Executive Officer & Executive Director
Ling Fong Wong Chief Financial Officer & Secretary
Yung I Li Chairman
Zhen Quan Sha Independent Non-Executive Director
Kam Kwan Chan Independent Non-Executive Director