Securities code: 000826 securities abbreviation: Tus Environmental Science And Technology Development Co.Ltd(000826) Announcement No.: 2022-013 Tus Environmental Science And Technology Development Co.Ltd(000826)
Announcement on receipt of project termination decision
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete,
There are no false records, misleading statements or major omissions in the announcement.
1、 Project overview
On December 18, 2012, Dehui Municipal People’s Government of Jilin Province and Tus Environmental Science And Technology Development Co.Ltd(000826) (hereinafter referred to as “the company”) signed the franchise agreement for Dehui municipal domestic waste incineration power generation project in Dehui City, Jilin Province. Dehui Municipal People’s government, as the franchisor, granted the company the exclusive right to own the investment, design and operation of Dehui municipal domestic waste treatment project during the franchise period Construction, operation and maintenance rights. Dehui Dejia environmental protection and energy Co., Ltd. (hereinafter referred to as “Dehui Dejia”), an indirect wholly-owned subsidiary established by the company in Dehui city according to law, is responsible for the investment and development of the project Construction and operation (see the company’s announcement on signing major contracts for daily operation published in China Securities Journal, securities times and cninfo.com on December 19, 2012, Announcement No.: 2012-90).
On August 25, 2021, the company held the 8th meeting of the 10th board of directors and the 7th Meeting of the 10th board of supervisors, deliberated and adopted the proposal on withdrawing asset impairment provision for some project assets. According to the appraisal report no. 213 (2021) issued by Beijing Asia Pacific Lianhua Asset Appraisal Co., Ltd, After evaluating the recoverable amount of franchise rights declared by Dehui Dejia, on the benchmark date of June 30, 2021, the book value of franchise rights declared and evaluated by Dehui Dejia is 292.073 million yuan. After evaluation, the recoverable amount is 257.184 million yuan and the impairment is 34.8233 million yuan, The impairment rate is 11.93% (for details, see the company’s announcement on the provision for asset impairment in the half year of 2021 published in China Securities Journal and securities times on August 26, 2021 and cninfo.com, Announcement No.: 2012-133, announcement on the resolution of the eighth meeting of the 10th board of directors, announcement No.: 2021-127).
2、 Basic information of the project company
Company name: Dehui Dejia environmental protection energy Co., Ltd
Unified social credit Code: 91220183059610102t
Date of establishment: January 7, 2013
Company domicile: Taixing village, Dehui Economic Development Zone
Legal representative: Guan Yong
Registered capital: RMB 70 million
Business scope: solid waste treatment; Domestic waste incineration for power generation; Investment, construction and maintenance of municipal infrastructure; Sewage treatment and related business; Heating and hot water supply; Disposal of garbage, fly ash and construction waste; Sludge treatment; Photovoltaic power generation; Garbage and sewage transportation; Food waste incineration for power generation; Technical consulting related business (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments).
Ownership structure: the company indirectly holds 100% of its equity.
3、 Description of project termination
The company recently received the decision of Dehui Municipal People’s Government (hereinafter referred to as the “decision”) from Dehui Municipal People’s government. The main contents of the decision are as follows:
1. The franchise right of Dehui Dejia will be cancelled and the franchise agreement of Dehui domestic waste incineration power generation project signed with the company will be terminated from the date of making the self-determination letter. Require the company to negotiate with Dehui Municipal People’s government and competent authorities on the aftermath of the termination of the agreement within three days from the date of receiving the decision;
2. Since the date of temporary takeover by Dehui Municipal People’s government, the power sales income generated by the project belongs to the unsettled capital income, and the company has no right to dispose unilaterally. It shall immediately stop the income and expenditure of relevant income and deal with it uniformly after the franchise project is audited and settled.
3、 Follow up arrangement of the project
The company will actively communicate with the government according to the provisions on rights and obligations in the franchise agreement of Dehui domestic waste incineration power generation project, and promote the follow-up disposal of the project as soon as possible. At the same time, the company will timely fulfill the obligation of information disclosure on the progress of the matter in accordance with relevant regulations.
4、 Impact on the company and risk tips
After receiving the decision, the company will actively communicate and coordinate with the owner, carefully discuss the subsequent disposal of the project and clarify relevant rights and obligations. The project still needs the local government to audit and evaluate the current quantities and project cost to determine the specific project value. The financial impact of the disposal of the project on the company will be determined after the audit and evaluation of the project is completed. Please pay attention to investment risks.
It is hereby announced.
Tus Environmental Science And Technology Development Co.Ltd(000826) board of directors January 24, 2002
