Good news from the East

Recent months have brought a number of great news to share.

In mid-August, China Everbright International, the majority shareholder of NOVAGO, announced its unaudited interim results for the first six months of 2018. Once again, the company achieved a remarkable success.

In the first half of 2018, the consolidated revenue of China Everbright International, together with its subsidiaries, amounted to HK$ 11,784,390,000 (approx. PLN 5.67 billion), noting an increase of 29% over HK$ 9,142,144,000 (approx. PLN 4.40 billion) in the first half of 2017. The EBITDA amounted to HK$ 4,414,814,000 (approx. PLN 2.12 billion), noting an increase of 35% as compared to the first half of 2017. Profit attributable to equity holders of the Company for the period under review was HK$ 2,200,900,000 (approx. PLN 1.05 billion), 23% more than recorded in the same period of last year.

As at 30 June 2018, China Everbright International had secured 299 environmental protection projects with a total investment of approx. RMB 82.649 billion (approx. PLN 44.88 billion). Among them, 184 projects had completed construction, commanding a total investment of approx. RMB 41.259 billion (approx. PLN 22.40 billion); 43 projects were under construction, commanding investment of approx. RMB 18.625 billion (approx. PLN 10.11 billion); and 72 projects were in the preparatory stage, commanding a total investment of approx. RMB 22.765 billion (approx. PLN 12.36 billion).

As a result of China Everbright International’s solid performance in sustainable development over the past year, the company has been included in the Dow Jones Sustainability Emerging Markets Index for the third consecutive year. This year, Everbright International was the only Chinese company from the emerging markets (Ex-Taiwan) to be included in this index.

Mr. Wang Tianyi, CEO of China Everbright International, said: “The Group’s inclusion in DJSI this year once again reflects that its sustainable development efforts have been well recognized, and shows that the Group is in a world-leading position in the sustainable development area."

Furthermore, in September 2018, China Everbright International successfully completed a HK$ 10 billion (approx. PLN 4.82 billion) rights issue. The rights issue, on the basis of 10 rights shares for every 27 existing shares at the subscription price of HK$ 6.00 per rights share, has been one of the biggest successes of the year. An over-subscription of 373,341,319 rights shares was noted, representing approx. 22.49% of the total number of 1,660,263,592 rights shares available for subscription under the rights issue. This means that the rights issue attracted great interest among the investors, who wanted to buy more much more shares than China Everbright International initially planned to issue. China Everbright International reacted to optimistic signals from the capital market and decided to increase the number of available shares.

Mr. Wang Tianyi said: "With the inspiring performance of our rights issue, we appreciate the strong support of our investors and shareholders”. Mr. Wang further commented: “This reflects that our investors and shareholders fully recognize Everbright International’s development strategies and management capabilities”.

A further important milestone marking the second half of 2018 was Tianjin Xiqing Household Waste Integrated Treatment Plant PPP Project, which was secured by China Everbright International in October. The project comprises a Waste-to-Energy plant (including a fly ash landfill facility and a leachate treatment station), food waste treatment plant and Xiqing sewage treatment project, commanding an impressive total investment of approx. RMB 2.197 billion (approx. PLN 1.19 billion). The project will be implemented under Public-Private Partnership with Tianjin Municipality. The Xiqing Project is intended to process all household waste produced in several districts of Tianjin (a city close to Beijing with a population of approx. 15 million). The designed daily processing capacity of its WTE plant amounts to 3,000 tonnes of household waste. The food waste treatment plant will be able to process 200 tonnes of food waste per day and the sewage plant – 300 tonnes of household sewage per day.

The recent months have also seen China Everbright International’s first steps in Africa. Having successfully entered the markets in Poland, Germany and Vietnam, China Everbright International had its debut in Ethiopia. A waste-to-energy project in Ethiopian capital city, Addis Ababa, equipped with a leachate treatment system manufactured by Everbright China International's Environmental Technology (equipment manufacturing subsidiary), recently commenced operation. This waste-to-energy project is Africa's first project of this type and the first Sino-Ethiopian joint project in the environmental protection sector.