EQS-Adhoc: ZhongDe reached an amendment agreement with Capital Yield Group Limited on equivalent exchange between the equity of King Trade Group Ltd and the remaining balance for share purchase price of Chung Hu (deutsch)
ZhongDe reached an amendment agreement with Capital Yield Group Limited on equivalent exchange between the equity of King Trade Group Ltd and the remaining balance for share purchase price of Chung Hu
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EQS-Ad-hoc: ZhongDe Waste Technology AG / Schlagwort(e):
Kapitalmaßnahme/Sonstiges
ZhongDe reached an amendment agreement with Capital Yield Group Limited on
equivalent exchange between the equity of King Trade Group Ltd and the
remaining balance for share purchase price of Chung Hu
02.09.2024 / 10:00 CET/CEST
Veröffentlichung einer Insiderinformation nach Artikel 17 der Verordnung
(EU) Nr. 596/2014, übermittelt durch EQS News - ein Service der EQS Group
AG.
Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.
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ZhongDe reached an amendment agreement with Capital Yield Group Limited on
equivalent exchange between the equity of King Trade Group Ltd and the
remaining balance for share purchase price of Chung Hua Group
Frankfurt, 02 September 2024 - ZhongDe Waste Technology AG (the "Company")
and Capital Yield Group Limited (the "Capital Yield Group") have today
entered into an amendment agreement on equivalent exchange between the 100 %
equity of King Trade Group Company Limited (the "King Company"), a
subsidiary company in Hong Kong of Capital Yield Group and the balance of
Euro 104 Million for the equity purchase of Chung Hua Environmental
Protection Assets (Holdings) Group Ltd (the "Chung Hua Group"), a subsidiary
of ZhongDe Waste Technology AG.
This amendment agreement was approved by the Supervisory Board of ZhongDe
Waste Technology AG.
King Company holds indirectly three mining rights in the Galshar Coal Mine
in East Gobi, Mongolia, the equity in a freight train station platform, as
well as related right and interests in the land, property, ownership and
management rights, facilities and equipment related to the aforementioned
right through its subsidiary company in Mongolia. According to an
independent assessment, the market values of the mineral assets
aforementioned as of the valuation date of 30 September, 2023 is RMB 2.48
billion which equals approx. EUR 317 million under the premise of
implementation of coal quality improvement and humic acid production
systems.
Through this agreement, not only has the company's long-standing accounts
receivable problem been resolved, but it has also gained access to coal
resources in Mongolia. Under the influence of the Russia Ukraine war, the
importance of coal resources in global energy consumption has significantly
increased, and the coal prices have also risen sharply. King Company
provides ZhongDe with opportunities and space for development in the coal
industry, opening up new areas for the company's business model.
In addition, to develop chemical products such as humic acid with the coal
resources owned by King Company in Mongolia not only provides higher value
than selling raw coal, but also allows ZhongDe to continue playing an active
role in the field of environmental protection, ensuring a smooth transition
for the company in its new strategic transformation and providing strong
support for its sustainable development.
With the slowdown of urbanization in China, the waste to energy industry is
becoming saturated, which increases the difficulty for the company to win
new EPC projects in the Chinese market. However, the company will continue
to expand its EPC engineering business. In addition, the company will also
develop mineral resources and chemical products mainly based on humic acid
in Mongolia, and use its own advantages to try to develop the solar energy
and other renewable energy markets in Europe.
In the past few years, due to changes in the company's management and the
pandemic, the company was unable to carry out audit work properly for a long
time and has therefore been penalized by BaFin and the Federal Bureau of
Justice. Therefore, after the end of the epidemic, the company started
immediately to clean up the financial issues in the past and prepare for the
smooth implementation of audit work.
At present, the company is in contact with German accounting firms. Once a
new auditor is determined, the company will immediately begin with financial
report auditing from 2017 to 2023 and disclose all financial information,
allowing shareholders and investors to fully understand the company's
financial situation and restore confidence in the company's business
development.
Contact:
ZhongDe Waste Technology AG
Ying Sun
Investor Relations
Barckhausstrasse 1,
60325 Frankfurt
Tel.: +49 (0) 69 2475689 - 630
Fax: +49 (0) 69 2475689 - 499
Email: ying.sun@zhongde-ag.de
Ende der Insiderinformation
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Informationen und Erläuterungen des Emittenten zu dieser Mitteilung:
Additional Information:
ISIN: DE000ZDWT018
WKN: ZDWT01
Listing: Regulated Market (General Standard) at Frankfurt Stock Exchange
Approved by CEO Zefeng Chen
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Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen.
Medienarchiv unter https://eqs-news.com
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Sprache: Deutsch
Unternehmen: ZhongDe Waste Technology AG
Barckhausstraße 1
60325 Frankfurt
Deutschland
Telefon: + 49 69 50956 5656
Fax: + 49 69 50956 5520
Internet: www.zhongde-ag.de
ISIN: DE000ZDWT018
WKN: ZDWT01
Börsen: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart, Tradegate Exchange
EQS News ID: 1979095
Ende der Mitteilung EQS News-Service
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1979095 02.09.2024 CET/CEST
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