Core Viewpoint - The company, Everbright Environment (00257.HK), has announced a preliminary proposal to issue Renminbi shares and list them on the Shenzhen Stock Exchange by November 14, 2025, subject to market conditions, shareholder approval, and necessary regulatory approvals [1] Group 1 - The board of directors has approved the potential issuance of Renminbi shares [1] - The proposed issuance is contingent upon various factors including market conditions and shareholder approval [1] - The listing of the Renminbi shares is planned for the Shenzhen Stock Exchange [1]

智通财经APP讯，光大环境(00257)公布，于2025年11月14日，董事会批准可能进行发行人民币股份及将 该等人民币股份在深交所上市的初步建议。建议发行人民币股份需取决并受限于(其中包括)市场情况、 股东于公司股东大会的批准以及必要的监管批准。公司拟发行人民币股份数量不超过8亿股，募集资金 净额初步拟用于公司发展主营业务及补充一般营运资金，但以经相关监管机构同意的招股说明书的披露 为准。 ...

光大环境(00257)公布，于2025年11月14日，董事会批准可能进行发行人民币股份及将该等人民币股份 在深交所上市的初步建议。建议发行人民币股份需取决并受限于(其中包括)市场情况、股东于公司股东 大会的批准以及必要的监管批准。公司拟发行人民币股份数量不超过8亿股，募集资金净额初步拟用于 公司发展主营业务及补充一般营运资金，但以经相关监管机构同意的招股说明书的披露为准。 ...

CHINA EVERBRIGHT ENVIRONMENT GROUP LIMITED 中國光大環境（集團）有限公司 （ 於 香 港 註 冊 成 立 之 有 限 公 司 ） （股份代號：257） 內幕消息 建議發行人民幣股份並在深圳證券交易所上市 本公告乃由中國光大環境（集團）有限公司（「本公司」）根據香港上市規則第13.09(2)條 以及《證券及期貨條例》（香港法例第571章）第XIVA部之內幕消息條文（定義見香港上 市規則）而作出。 本公司欣然公佈，於二零二五年十一月十四日，董事會批准可能進行發行人民幣股份及 將該等人民幣股份在深交所上市（「建議發行人民幣股份」）的初步建議。建議發行人民 幣股份需取決並受限於（其中包括）市場情況、股東於本公司股東大會的批准以及必要 的監管批准。 1 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 人民幣股份的上市地點 深交所 截至本公告日期，除本公告所披露內容之外，董事會尚未通過建議發行人民幣股份的其 他方案，亦未 ...

Summary of the Conference Call for Guangda Environment Industry and Company Overview - Guangda Environment is actively expanding its overseas market presence, particularly in Central Asia and Southeast Asia, with a focus on risk control and investment return rates [2][5][6] Key Points and Arguments Overseas Market Expansion - Guangda Environment has signed projects in Uzbekistan with a total investment of 1.08 billion RMB, expected to be operational by mid-2027, holding an 88% stake [2][5] - The company is also exploring potential projects in Vietnam, Malaysia, Indonesia, and the Middle East [2][5] Investment Return Rates - The target Equity Internal Rate of Return (IRR) for overseas projects is set at no less than 10%, with some projects in Vietnam achieving over 15% IRR [2][6] - The new projects in Uzbekistan are projected to have an IRR close to 12% [2][6] Financial Performance - Financial expenses significantly decreased from 3.23% to 2.72% year-on-year, attributed to interest rate reductions and the replacement of high-interest loans, totaling nearly 24.4 billion RMB [2][14] - Free cash flow turned positive for the first time in 2024, reaching 4.04 billion RMB, with 2 billion RMB in the first half of 2025, a significant year-on-year increase [3][17] Dividend Policy - Despite a 24% decline in 2024 earnings, the company maintained a stable dividend policy, with an increase of 1 cent per share [3][18] - The dividend payout ratio is expected to rise from 42% to 45% [3][18] Capital Expenditure Plans - Capital expenditures for 2025 are projected between 3.5 billion to 4.5 billion RMB, with 30%-40% allocated for overseas projects [3][21] Collaboration and Market Competition - Guangda Environment collaborates with other companies to avoid price competition in overseas markets, particularly in Central Asia [7][8] - The competitive landscape for Chinese companies in overseas markets is intense, leading to price competition that could affect profitability [8] Technology and Project Efficiency - The company’s waste-to-energy projects often exceed internal estimates for waste and power generation, particularly in Vietnam due to high electricity demand [9][10] - The proprietary grate furnace technology allows for flexible scale adjustments, enhancing competitiveness across different regions [10] Challenges and Future Outlook - The IDC business is progressing, with potential projects in Hangzhou, but overall profitability from this segment is not expected to be significant [11] - The company remains cautious about future earnings due to various economic factors, including currency fluctuations and the competitive landscape [19] Investor Engagement - Guangda Environment plans to organize investor visits to key projects in Shenyang and Dalian to showcase operational strengths and profitability [24] Other Important Considerations - Key factors affecting future performance include exchange rate losses, impairment provisions, and capital expenditures, particularly for overseas projects [25]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國光大環境(集團)有限公司 (於香港註冊成立之有限公司) | | | 呈交日期: | 2025年11月3日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00257 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 6,142,975,292 | | 0 | | 6,142,975,292 | | ...

Market Performance - A-shares experienced a significant decline in the afternoon, with the Shenzhen Component Index and ChiNext Index both dropping over 2% [1] - The Hang Seng Tech Index fell by 3%, while the Hang Seng Index decreased by nearly 2% [1] Individual Stock Movements - ZTE Corporation saw a sharp decline, dropping over 11% [1] - BYD Electronics experienced a decrease of over 6% [1] - SMIC (Semiconductor Manufacturing International Corporation) fell by more than 5% [1] Notable Stock Activity - Delixi Electric (德力股份) experienced a sudden surge, achieving a "天地天" market performance with a trading volume exceeding 700 million yuan and a turnover rate of over 26% [1] - The stock had previously reached its daily limit up the day before [1]

Core Points - The company announced the establishment of joint ventures in Uzbekistan for waste-to-energy projects, marking a strategic expansion in the renewable energy sector in Central Asia [1][2] - The registered capital for each project company (A and B) is set at $29.6 million, with the ownership structure being 88% for the company, 10% for Maxsus, and 2% for China Railway 17th Bureau Group [1] - This initiative aligns with the company's international strategy to develop renewable energy infrastructure in emerging markets and meet the growing demand for waste-to-energy solutions [2] Group 1 - The joint ventures will be located in the Fergana and Namangan regions of Uzbekistan [2] - The establishment of these joint ventures is expected to strengthen the company's market position and provide sustainable returns to shareholders [2] Group 2 - The company aims to capitalize on the increasing demand for waste-to-energy solutions in the international market [2]

Group 1 - The core viewpoint of the article is that Everbright Environment (00257) is expanding its renewable energy business in Central Asia by establishing joint ventures for waste-to-energy projects in Uzbekistan [1][2] - The joint ventures will consist of Project Company A and Project Company B, each with a registered capital of $29.6 million, funded by China Everbright International, Maxsus, and China Railway 17th Bureau Group [1][2] - After establishment, China Everbright International will hold 88% equity in both project companies, while Maxsus and China Railway 17th Bureau Group will hold 10% and 2% respectively [1][2] Group 2 - The projects will be located in the Fergana and Namangan regions of Uzbekistan, marking a strategic expansion for the group in the renewable energy sector [2] - This initiative aligns with the company's international strategy to develop renewable energy infrastructure in emerging markets and capitalize on the growing demand for waste-to-energy solutions [2] - The board believes that this expansion will strengthen the company's market position and is expected to provide sustainable returns to shareholders [2]

Core Viewpoint - The announcement indicates that Everbright Environment (00257.HK) is expanding its renewable energy portfolio in Central Asia by establishing joint ventures for waste-to-energy projects in Uzbekistan, aligning with its international strategy to meet the growing demand for waste-to-energy solutions [1] Group 1: Joint Venture Formation - The company has signed a shareholder agreement with Maxsus and China Railway 17th Bureau Group to establish joint ventures, Project Company A and Project Company B, for waste-to-energy projects in Uzbekistan [1] - Project Company A and Project Company B will be located in the Fergana and Namangan regions of Uzbekistan, respectively [1] Group 2: Strategic Expansion - The formation of these joint ventures marks a strategic expansion of the company's renewable energy business in the Central Asian region [1] - This initiative aligns with the company's strategy to develop renewable energy infrastructure in emerging markets and capitalize on the increasing demand for waste-to-energy solutions [1] Group 3: Market Position and Shareholder Returns - The board believes that this expansion will help solidify the company's market position [1] - The company anticipates that this move will provide sustainable returns for its shareholders [1]