Profit attributable to the Company’s owners for the three months ended 31
March 2011 increased by 342.7% to HK$8,350,000 compared to HK$1,886,000
for the corresponding period in 2010.
The New Sinotech Group is principally engaged
in the development, management and operation of an eco-plating specialised zone with
a total land area of approximate 182,520 square metres owned by Zhenjiang Sinotech
that will be able to accommodate industrial buildings with a total rentable gross floor
area of more than 125,000 square metres (the “Eco-plating Specialised Zone”).
(22 August 2010, Hong Kong) New Universe International Group Limited (“New
Universe” or the “Company”, together with its subsidiaries referred to as the “Group”;
stock code: 08068.HK) has recently entered into an agreement with an independent
third party to participate in the development of an industrial sludge recycling project in
Jiangsu Province. The total investment of the project amounts to approximately
HK$125 million. It is expected to commence operation in 2011 with an annual capacity
of handling 70,000 metric tons of industrial sludge, which will be recycled into light
building materials and alternative fuels. The Group owns 4% equity interest in the
project and would not rule out the possibility of increasing its stake in the future when
the project reaches a mature stage.
In early 2010, the group invests in Zhenjiang New Universe Recyclables Company
Limited as a new wholly owned subsidiary with paid up registered capital of
US$1,000,000 (approximately HK$7,780,000) to engage in the development of various
environmental recycling operations to be established in Jiangsu Province, Mainland
China, and expects the newly formed subsidiary will contribute to the Group in the
foreseeable future.
In the second quarter of 2010, the registered capital of Zhenjiang New Universe was
increased to US$6,850,000 from US$2,850,000. Zhenjiang New Universe has invested
US$1,500,000 to increase its recycling and disposal capacity.
During the second quarter of 2010, the Company entered into various co-operative
agreements for an aggregate financial commitment of approximately HK$15,476,000 on
different equity investments for the further development of environmental operations in
Jiangsu Province, China.
In the third quarter of 2010, the Company entered into a co-operative agreement
for financial commitment of approximately HK$3,760,000 on equity investment for
development of environmental waste disposal operation in Nanjing, China.
(19 July 2010, Hong Kong) Zhenjiang New Universe Solid Waste Disposal Company
Limited, a subsidiary of New Universe International Group Limited (“New Universe” or
the “Company”, together with its subsidiaries referred to as the “Group”; stock code:
08068.HK) has invested over HK$20 million to build a new rotary kiln in Zhenjiang,
Jiangsu Province in order to expand its capacity to handle increasing solid waste
released by factories in Zhenjiang and surrounding areas. The rotary kiln has a daily
capacity of handling 30 metric tons and is expected to commence trial operation in
early 2011. The annual capacity of the Group in handling dangerous waste will
thereby increase by 60% to 26,400 metric tons and its operating efficiency will be
further improved.
Commencing the second half of 2010, the Group has entered into different co-operative agreements
with anticipation to extend its investments on the environmental business in Mainland China as part of
the medium term strategy, of which those investments are to explore for various environmental recycling
projects, such as, rubber waste recycling, electronic product waste recycling, and other general
industrial solid waste disposal projects in Jiangsu Province. Those projects are still at planning stage.
The Group currently holds non-controlling interests in those new projects, and will wait for positive
results on viability studies thereon before further commitment is to be decided.
“The Group has recently entered into a cooperation agreement with an independent
party. Pursuant to it, a joint venture will be formed to provide hazardous industrial
waste treatment service in Xiangshui Eco-chemical Industrial Zone, Jiangsu Province.
And we own a 51% equity interest in it. The entire project covers land area of
approximately 100 mu and industrial waste treatment and recycling facilities will be
developed on it. The first phase will include an incinerating plant and ancillary facilities
with annual capacity of handling over 6,000 metric tons of hazardous industrial waste.
It will be operational in April next year. The eco-chemical zone, approved by the
provincial government, has planned floor area of 10.5 km2. There are over 70
enterprises operating in it. Their production output reached RMB12 billion last year.
Petrochemical, salt chemical and bio-chemical sectors are the pillars of the economy
of Xiangshui County. Although they produce a lot of industrial wastes, the area is lack
of treatment and recycling facilities. As a result, demand for such facilities is very
strong in the area. Management believes that when the projects in eco-electroplating
specialized zone in Zhenjiang and Xiangshui Eco-chemical Industrial Zone come into
full operation, the Group’s revenue will grow robustly,” added Mr. Chan.
