China Everbright Limited’s Everbright Qingdao New Energy (Low Carbon) Fund Exits CSEEC Project Through Acquisition by Listed Company
China Everbright Limited (“CEL”, stock code: 165.HK)’s Everbright Qingdao New Energy (Low Carbon) Fund (“the Fund”) completed its exit from China Sinogy Electric Engineering Co., Ltd. ("CSEEC") which was invested in May 2014, was acquired by Suzhou Thvow Technology Co., Ltd. (stock code: 002564.SZ), a company listed on the SME Board of the Shenzhen Stock Exchange. The acquisition was made for a cash consideration of all the equity in CSEEC held by the Fund. The agreement for the transaction was concluded on 30 October 2016. The Fund has received the full proceeds from the share disposal, its first exited project, realising a return on investment of approximately 93%.
The Fund was established in March 2013. The RMB650 million fund focuses on investing in growth industries in China including new energy, new materials, energy conservation and environmental protection.
CSEEC is a power engineering system service provider with integrated design, consulting, construction management, general contracting and full equipment procurement capabilities. The company has completed design and general contracting work for nearly 600 domestic and overseas power engineering projects in industries covering thermal, solar, biomass, waste-to-energy and wind power generation as well as power transmission and transformation. It has also exported its engineering consulting, engineering design, project procurement, project management and EPC contracting expertise to projects in East Asia, Southeast Asia, Central Asia, the Middle East, Africa and South America.
For more information about CSEEC, please visit www.cseec.cn.
The Fund was established in March 2013. The RMB650 million fund focuses on investing in growth industries in China including new energy, new materials, energy conservation and environmental protection.
CSEEC is a power engineering system service provider with integrated design, consulting, construction management, general contracting and full equipment procurement capabilities. The company has completed design and general contracting work for nearly 600 domestic and overseas power engineering projects in industries covering thermal, solar, biomass, waste-to-energy and wind power generation as well as power transmission and transformation. It has also exported its engineering consulting, engineering design, project procurement, project management and EPC contracting expertise to projects in East Asia, Southeast Asia, Central Asia, the Middle East, Africa and South America.
For more information about CSEEC, please visit www.cseec.cn.
