News Release
15 Dec 2022

Everbright Greentech Wins Special Mention at HKICPA "Best Corporate Governance and ESG Awards"

Hong Kong, 15 December 2022 – China Everbright Greentech Limited ("Everbright Greentech", or the "Company") (SEHK: 1257.HK) announced that the Company has received Special Mention on "Separate Corporate Governance Awards 2022" under the H-share Companies and Other Mainland Enterprises Category, at the "2022 Best Corporate Governance and ESG Awards" (the "Awards") organized by Hong Kong Institute of Certified Public Accountants ("HKICPA"), marking the Company's outstanding performance in corporate governance. The Company has won recognition at the Awards again after achieving "ESG Awards" under the Non-Hang Seng Index (Small Market Capitalisation) Category in 2018 and 2021.

In the review report, HKICPA pointed out that Everbright Greentech has upheld the concept of sound and high-standard corporate governance, has gone through the basic procedures, such as establishing the independence of INEDs and that there are no business relationships that affecting these, added knowledge and experience in sustainable development responsibility as a crucial criterion in the selection of directors, established three Board Committees to oversee this particular aspect of the company's affairs, and matters considered by the board during the year have been set out clearly. Moreover, the board acknowledges that it should take leadership for and accountability in promoting a top-down culture to ensure ESG considerations are part of the business decision-making process. The Company has conducted a board evaluation, which took into account five key board performance and corporate governance areas, allowing each board member to rate relevant items in different areas. The Company has considered corporate governance and ESG as key issues on the board agenda and set up a sustainability committee comprising the CEO as the chairman and three INEDs. Meanwhile, the Company's risk management and internal control also cover important ESG risks and opportunities.

The "Best Corporate Governance Awards" by HKICPA has launched 22 years ago. The Awards are among Hong Kong's most prestigious business-related competitions, setting benchmarks of best practices in Corporate Governance and ESG for listed companies and public sector organisations, and encouraging improvements in overall standards. They enjoy strong support from the government, financial market regulators, investor groups, the business and professional community, and academia. While the immediate focus is information disclosed in annual reports and sustainability reports, of which over 300 of each were examined in the first stage in 2022, ultimately, the judges and reviewers try to ascertain whether candidates demonstrate a strong Corporate Governance and ESG culture, and a commitment to long-term sustainable success. This being the case, where appropriate, they will also take account of other public information that may provide further evidence of how individual organisations are being run.

As a company listed on the Main Board of Hong Kong Exchange, Everbright Greentech has long been committed to improving and maintaining a standardized and efficient corporate governance system. Being awarded HKICPA Special Mention highlights the Company's improvement in corporate governance in recent years. Under the leadership of the Board of Directors of the Company, Everbright Greentech will continue to explore its management potential, improve the operation of the clean energy management centre focusing on the comprehensive utilisation of biomass business, and the solid waste management centre focusing on the disposal of hazardous and solid wastes, and upgrade the management system of investment project evaluation and budget review. The Company will also continue to strengthen ESG management through the Sustainability Committee. It is believed that the Company will create long-term value for investors and stakeholders with a high level of corporate governance under the business philosophy of ‘reinforcing principal business' and ‘driving transformation'.