*ST Jinglan (000711.SZ) issued an announcement that the company intends to participate in Yunnan Yesheng Environmental Resources Technology Co., Ltd. (...
Zhitong Finance App News, *ST Jinglan (000711.SZ) announced that the company plans to participate in the bankruptcy and restructuring of Yunnan Yesheng Environmental Resources Technology Co., Ltd. (hereinafter referred to as “Yesheng Company”). The company plans to invest no more than 85 million yuan (including contingent liabilities) to acquire 66.05% to 100% of Yesheng's shares.
Yesheng Company has the only harmless disposal of industrial and municipal solid waste and comprehensive recycling of secondary resources in Chuxiong Prefecture, and has certain industry advantages; Yesheng Company's No. 1 rotary kiln and other production lines still have production capacity and the conditions to restart production before entering bankruptcy and restructuring; Mouding County has good location advantages, industrial advantages, and environmental advantages. It is determined by the National Development and Reform Commission and the Ministry of Industry and Information Technology as one of the 50 comprehensive utilization bases for bulk solid waste in Yunnan Province. Comprehensive utilization base. The construction of a “comprehensive utilization of bulk solid waste” demonstration base is an important way for China to vigorously promote the development of a circular economy and achieve “industrial agglomeration, high-value utilization, and large-scale utilization”, and has favorable policies.
If Yesheng successfully obtained control through this investment, the company can make full use of Yesheng's business qualifications, some production equipment and other production resources to achieve the transformation and upgrading of Yesheng Company through subsequent maintenance and transformation, providing strong support for the company to further expand the scale of the industry and achieve new growth; at the same time, this business will organically integrate and develop collaboratively with the company's original soil environment restoration business to gradually build the company into a high-quality listed company with steady operation and excellent performance to achieve the company's high-quality development.