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ER - ZhongDe Waste Technology AG: Significant extraordinary profit in 2016

Company: ZhongDe Waste Technology AG Date: 2016-12-28 Language: English Register to download

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 News Details

Ad-hoc | 28 December 2016 19:21

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ZhongDe Waste Technology AG: Significant extraordinary profit in 2016

ZhongDe Waste Technology AG / Key word(s): Disposal

28-Dec-2016 / 19:21 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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ZhongDe Waste Technology AG: Significant extraordinary profit in 2016

Frankfurt, December 28, 2016 - Following the sale of its subsidiary Chung
Hua to the Capital Yield Group Limited in October 2016, ZhongDe Waste
Technology AG ("ZhongDe") today has transferred the equity to the
purchaser. According to the agreement the equity transfer was carried out
after receiving the payment of 810 million Renminbi (around 111 million
Euros) on the accounts of ZhongDe China Environmental Protection Co. Ltd.,
an operating subsidiary of ZhongDe Waste Technology AG.

As a result, already the financial results 2016 of ZhongDe Waste Technology
AG will include a significant positive effect from the sale of Chung Hua
for a total purchase price of around 120 million Euros.

ZhongDe will proceed with the construction of its current EPC projects
Dingzhou and Wuhai. Also in the future ZhongDe plans to continue to build
EPC projects within the engery-from-waste industry. Furthermore, the
company will explore new short-term and long-term business development
opportunities.

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Information and Explanation of the Issuer to this News:

About ZhongDe Group

ZhongDe Group designs, invests, constructs, finances and operates energy-
from-waste plants generating electricity from the incineration of solid
municipal and industrial waste. ZhongDe realizes either EPC (Engineering,
Procurement and Construction) or BOT (Build, Operate and Transfer)
projects, focusing on large-scale plants with waste disposal capacities of
around 1,000 tons per day. Since 1996, ZhongDe Group has installed
approximately 200 waste incinerators in 13 provinces throughout China.
ZhongDe is one of the leading players in the project development and
operation of energy-from-waste plants in China.


Contact

ZhongDe Waste Technology AG

Messeturm 25th floor
Friedrich-Ebert-Anlage 49
60308 Frankfurt
Tel.: +49 (0) 69 50956 5655
Fax: +49 (0) 69 50956 5520
Email: david@zhongdetech.com

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28-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:    English
   Company:     ZhongDe Waste Technology AG
                Messeturm 25th floor
                60308 Frankfurt
                Germany
   Phone:       + 49 69 50956 5655
   Fax:         + 49 69 50956 5520
   Internet:    www.zhongde-ag.de
   ISIN:        DE000ZDWT018
   WKN:         ZDWT01
   Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated
                Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
                Stuttgart, Tradegate Exchange



     End of Announcement    DGAP News Service