Ad-hoc-News
Public disclosure of inside information pursuant to Article 17 MAR
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, 2 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[A1] , 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.
Additional Information:
ISIN: DE000ZDWT018
WKN: ZDWT01
Listing: Regulated Market (General Standard) at Frankfurt Stock Exchange
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
Approved by CEO Zefeng Chen
Investor Relations
2 September 2024
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
Details
25 June 2018
ZhongDe Waste Technology AG: Downlisting from the Prime Standard to the General Standard of the Regulated Market
Details
14 October 2016
ZhongDe sells all shares in Chung Hua Environment Protection (Holding)
Group Ltd.
Details
27 September 2016
ZhongDe negotiates on the sale of all shares in Chung Hua Environment Protection (Holding) Group Ltd.
Details
13 November 2015
ZhongDe Waste Technology AG: Preliminary nine-months results and adjusted full-year guidance
Details
14 November 2013
Release according to Article 26 para. 1 WpHG [German Securities Trading Act]
Details
14 November 2013
Release according to Article 26 para. 1 WpHG [German Securities Trading Act]
Details
28 April 2013
ZhongDe Waste Technology AG: Challenging circumstances adversely affect results 2012
Details
5 April 2012
Correction of the Publication pursuant to section 26 para. 1 WpHG dated 22 March 2012
Details
30 March 2012
ZhongDe Waste Technology AG: Delays in completion of energy-from-waste plants lead to net loss for full year 2011
Details
7 February 2012
Release according to Article 26 para. 1 WpHG [German Securities Trading Act] (in German)
Details
7 February 2012
Release according to Article 26 para. 1 WpHG [German Securities Trading Act]
Details
24 November 2011
ZhongDe Waste Technology AG: Further delays in completion process of energy-from-waste plants leads to revision of full year 2011 outlook
Details
22 August 2011
ZhongDe Waste Technology AG: Preliminary Q2 2011 results better than Q1 2011 but worse than Q2 2010
Details
15 April 2011
ZhongDe Waste Technology AG: Financial performance 2010 impacted by delay of construction progress of energy-from-waste projects
Details
31 December 2010
Release of an Ad hoc announcement according to Sec. 15, German Securities Trading Act (WpHG)
Details
9 December 2009
Release according to Article 26 para. 1 WpHG [German Securities Trading Act] (in German)
Details
16 November 2009
ZhongDe Waste Technology AG: Preliminary figures for the first nine months reflect difficult market environment in small- and medium-size incinerators segment
Details
7 September 2009
DGAP-Adhoc: ZhongDe Waste Technology AG: Share Buy-Back
Details
26 August 2009
Decrease of Revenues and Profits of ZhongDe Waste Technology in the first half year 2009
Details
28 April 2009
Change in Management Board at ZhongDe Waste Technology
Details
23 January 2009
Ad hoc announcement according to § 15 WpHG of 23 January 2009
Details
13 June 2008
Release according to Article 26 para. 1 WpHG [German Securities Trading Act]
Details
29 April 2008
Ad hoc announcement according to § 15 WpHG of 29 April 2008
Details
11 March 2008
Ad hoc announcement according to § 15 WpHG of 11 March 2008
Details
27 February 2008
Release according to Article 26 para. 1 WpHG [German Securities Trading Act]
Details
17 July 2007
Release according to Article 26 para. 1 WpHG [German Securities Trading Act] - II
Details
17 July 2007
Release according to Article 26 para. 1 WpHG [German Securities Trading Act] - I
Details
13 July 2007
Veröffentlichung nach § 26 Abs. 1 Wertpapierhandelsgesetz
Details
5 July 2007
Ad hoc announcement according to § 15 WpHG of 5 July 2007
Details
28 June 2007
Ad hoc announcement according to § 15 WpHG of 28 June 2007
Details
