Securities code: 000035 securities abbreviation: China Tianying Inc(000035) Announcement No.: ty2021-70 China Tianying Inc(000035)
Announcement on signing equipment contract for waste incineration power plant in Paris, France
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
Special tips:
1. Effective time of the contract: according to the agreement of both parties, the contract shall come into force from the date of signing.
2. Major risks and uncertainties of the contract: there is a risk that part or all of the contract cannot be performed due to changes in laws and regulations of the country where the project is located and force majeure; The contract price shall be paid by the counterparty in stages and in proportion, which has the risk of slow recovery; If the company fails to meet the requirements of equipment design and supply schedule, there is also the risk of bearing corresponding liabilities for breach of contract; At the same time, during the performance of the contract, there may be the risk of exchange gains and losses to the company due to exchange rate fluctuations. Please pay attention to the investment risk. 3. The signing and performance of the contract will not have a significant impact on the company’s operating performance in 2021, but will effectively enhance the company’s competitiveness and influence in the field of global environmental protection, and will also have a positive impact on the company’s performance in future years.
1、 Contract signing overview
1. On December 21, 2021 (Beijing time), China Tianying Inc(000035) (hereinafter referred to as “the company”) holding subsidiaries Europe tianyingbv (Europe Tianying Co., Ltd., hereinafter referred to as “Europe Tianying”) and valo’marne SAS (hereinafter referred to as “valo’marne”) ）The equipment contract for valo’marne waste incineration power plant (hereinafter referred to as “the contract” or “the contract”) is signed for the process design, procurement, construction, on-site installation, startup and commissioning of incinerators, boilers and other main equipment in the third incineration line of valo’marne waste incineration power plant in Paris, France. The total contract price is 35 million euros.
2. This contract is a daily operation contract of the company and does not constitute a connected transaction, nor does it constitute a major asset reorganization specified in the administrative measures for major asset reorganization of listed companies.
3. The signing of this contract does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation and approval.
2、 Introduction to the other party
1. Company name: valo’marne SAS
Registration No.: Siret 83392123200017
Legal representative: Franois laigret (Chairman)
Registered capital: 20250000 euros
Main business: treatment and processing of non hazardous wastes
2. Similar transactions: in the past three years, the company and its holding subsidiary, European Tianying, have neither transactions nor related relationships with the counterparty.
3. Performance capability analysis: it is confirmed that valo’marne is mainly engaged in the treatment and processing of non hazardous wastes. The company has no bad credit record and has strong performance capability.
3、 Main contents of the contract
Party A: valo’marne SAS
Party B: Europe Tianying BV
1. Scope of service: valo’marne waste incineration power plant plans to build a third incineration line. Party B is responsible for the process design, procurement, construction, on-site installation, start-up and commissioning of incinerators, boilers and other main equipment.
2. Service schedule requirements: the construction of the project is carried out according to the schedule of key nodes.
3. Contract price: the total contract price is 35 million euros.
4. Payment method: perform progress payment according to the schedule of key nodes.
5. Dispute resolution: in case of any dispute, Party A and Party B shall first settle it through negotiation. If negotiation fails to reach a settlement or Party A and Party B are unwilling to reach a settlement through negotiation, either party has the right to appeal to the Paris court of France to resolve the dispute. 6. Effectiveness of the contract: the contract shall come into force from the date of signing.
4、 Impact of contracts on Listed Companies
1. The signing of the equipment contract is the company’s new success in the international expansion of complete sets of environmental protection and energy equipment after signing the Maldives EP project, and establishes a new benchmark in the field of environmental protection equipment in Europe and even the world, which will effectively enhance the company’s competitiveness and influence in the field of global environmental protection. The smooth performance of the contract has no significant impact on the company’s operating performance in 2021, but will have a positive impact on the company’s performance in the coming years.
2. The implementation of the contract will not affect the independence of the company’s business, and the company’s main business will not have related party transactions, horizontal competition and business dependence due to the performance of the contract.
5、 Risk tips
There is a risk that part or all of the contract cannot be performed due to changes in laws and regulations of the country where the project is located and force majeure; The contract price shall be paid by the counterparty in stages and in proportion, which has the risk of slow recovery; If the company fails to meet the requirements of equipment design and supply schedule, there is also the risk of bearing corresponding liabilities for breach of contract; At the same time, during the performance of the contract, there may be the risk of exchange gains and losses to the company due to exchange rate fluctuations. Please pay attention to the investment risk.
6、 Documents for future reference
Equipment contract for valo’marne waste incineration power plant signed by both parties.
It is hereby announced.
China Tianying Inc(000035) board of directors December 23, 2021
