On January 8th, Shenzhen Expressway Environment Co., Ltd., a wholly-owned subsidiary of Shenzhen Expressway Co., Ltd. (referred to as the “Shenzhen Expressway”), will be transferred to Lande Environmental Technology Group Co., Ltd. (Hereinafter referred to as "Land Environmental Protection") does not exceed 75 million shares, and subscribes for 85 million newly issued shares of Land Environmental Protection, with a total consideration not exceeding 810 million yuan.
After the completion of the transaction, Shenzhen Expressway Environmental Co., Ltd. will eventually acquire Lande Environmental Protection not exceeding 160 million shares, with a total consideration not exceeding RMB 809,600,000, and a shareholding ratio not exceeding 68.1045%. Lande Environmental Protection will become a controlling subsidiary of the Company.
Shenzhen Expressway said that the investment in Lande Environmental Protection is conducive to the Group's rapid entry into the organic waste treatment
subdivision field, the business synergy of the entire organic waste treatment industry chain, and the promotion of the scale development of the Group's organic waste treatment business, thereby expanding the Group's business scale. And operating income to achieve long-term stable returns and sustainable development, in line with the Group's development strategy.
The two main industries of Shenzhen Expressway are: transportation infrastructure and large environmental protection industry. Organic waste treatment is a sub-industry focused on development under its large environmental protection industry. It is supported by national policies and has a broad market prospect.
Lande Environmental Protection is currently an important domestic organic waste comprehensive treatment, construction and operation enterprise. It has strong scientific and technological innovation and research capabilities and more than 100 patented technologies. The management team is relatively mature, with technology research and development, equipment manufacturing, integration and sales, Invest and build, operate and maintain service capabilities throughout the industry chain.
Data show that Lande Environmental was established in December 2004 with a registered capital of RMB 149.933 million. Lande Environmental is mainly engaged in providing customers with systemic comprehensive solutions for municipal organic waste treatment, such as kitchen waste, landfill leachate, etc. The main business includes research and development of organic waste treatment technologies mainly based on kitchen waste, manufacturing of core equipment, and investment. Construction and operation and maintenance.
As of January 8, 2020, Lande Environmental Protection has a total of 16 organic waste treatment BOT / PPP projects (2 of which are in operation, 5 are in trial operation, 6 are under construction, 1 is under construction, and 2 projects have been awarded. ), Most of which are located in cities with better economic development, have longer franchise periods, and can generate relatively stable returns.
According to industry analysis, in 2011-2015, five batches of 100 kitchen waste disposal pilot cities, catering waste disposal systems were gradually established, and the technological process was gradually matured. From 2018 to 2019, policies such as African swine fever, waste sorting, and waste-free cities pilots have led to a rapid increase in the demand for food waste treatment, and the food waste industry has ushered in a rapid development stage.
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