Yee Hop Holdings' (1662.HK) Subsidiary APEL and Guangzhou Guofa Sign Cooperation Agreement
- to Drive Economic Growth in the Green Building Sector - and Advance Low-Carbon Transformation and Carbon Neutrality in Hong Kong and the Greater Bay Area
HONG KONG, Oct 9, 2024 - (ACN Newswire) - Adhering to high-quality development and following a green, low-carbon path has become a consensus among Chinese enterprises for sustainable development. At the end of 2022, the Communist Party of China (CPC) Central Committee and the State Council issued the "Outlines of the Strategic Plan for Expanding Domestic Demand (2022-2035)," which clearly stated the need to "promote the high-end, intelligent, and green transformation of the manufacturing industry." As one of China's high-end manufacturing sectors, the green building industry plays a crucial role in promoting a low-carbon economy, addressing climate change, and achieving low-carbon development.
As a global leader in environmental engineering technology, Yee Hop Holdings Limited ("Yee Hop Holdings," 1662.HK) has been committed to exploring the use of new technologies to tackle environmental issues and challenges, achieving a virtuous cycle of symbiotic development between enterprises and the environment. Recently, Absolute Pure EnviroSci Limited’s ("APEL", a subsidiary of Yee Hop Holdings), wholly-owned subsidiary Guangzhou Absolute Pure EnviroSci Limited ("Guangzhou Absolute Pure") collaborated with Guangzhou Guofa Building Technology Co., Ltd. ("Guangzhou Guofa," a wholly-owned subsidiary of Guofa Environmental New Materials (Jiangmen) Co., Ltd.,) to establish and operate a joint venture in the Chinese mainland and the Hong Kong Special Administrative Region. Together, they will develop ERC eco-friendly, multi-functional new materials, focusing on eco-friendly building materials, new construction materials, to protect the health of humans and pets, aiming to gain recognition in domestic and international markets, promote the sustainable development of green buildings, and contribute to the low-carbon transformation and carbon neutrality development in Hong Kong and the Greater Bay Area.
On 24 September, Dr. David Chung, Chairman of APEL, was invited to attend the Nansha Environmental Protection Industry Development Symposium and Signing Ceremony. In the presence of leaders, guests, and representatives from various sectors, Dr. David Chung, and Dr. Chen Weiguang, representative of Guangzhou Guofa and Director of Guofa Environmental New Materials (Jiangmen) Co., Ltd. signed the cooperation agreement. Leaders and guests in attendance included: Ms. Ruan Xiaohong, Standing Committee Member of the Nansha District Party Committee, Mr. Yu Jianfeng, Deputy Director General of the Hong Kong-Macao Affairs Office of Nansha Development Zone, Tan Xiao, Deputy Director of the Division of Solid Waste of the Department of Ecology and Environment of Guangdong Province, Ms. Karen Wong, Marketing Executive of the Hong Kong Trade Development Council, Mr. Ben Yeung, Chairman of Ben Yeung & Associate Limited, Ms. Stephanie Wong, Partner of Gravity Capital Partners Company Limited, Dr. Han Wei, Research Associate Professor, Division of Environment and Sustainability, The Hong Kong University of Science and Technology, Mr. Zhang Jian, President of the Guangdong Wardrobe Industry Association and Chairman of Paterson, and Mr. Neo Zhong, Executive Director of Germagic Biochemical Technology, etc.
On 24 September, Dr. David Chung, Chairman of APEL (second from the left), signed a cooperation agreement with Dr. Chen Weiguang, representative of Guangzhou Guofa and Director of Guofa Environmental New Materials (Jiangmen) Co., Ltd. (third from the left) at the Nansha Environmental Protection Industry Development Symposium and Signing Ceremony.
(From left to right) Mr. Ben Yeung, Chairman of Ben Yeung & Associate Limited, Ms. Karen Wong, Marketing Executive of the Hong Kong Trade Development Council, Ms. Stephanie Wong, Partner of Gravity Capital Partners Company Limited, and Dr. David Chung, Chairman of APEL, discussed topics related to eco-friendly buildings and investment.
(From left to right) Dr. Han Wei, Research Associate Professor, Division of Environment and Sustainability, The Hong Kong University of Science and Technology, Mr. Zhang Jian, President of the Guangdong Wardrobe Industry Association and Chairman of Paterson, Mr. Neo Zhong, Executive Director of Germagic Biochemical Technology, and Dr. David Chung, Chairman of APEL, discussed the importance of eco-friendly materials for human and pet health.
The "Nansha Cooperation Agreement" (hereinafter referred to as "the Agreement") focuses on the following key points:
Setting Scientific Carbon Reduction Goals for the Construction Industry
According to the Agreement, both parties will establish and operate a joint venture (hereinafter referred to as “the Joint Venture”) in the Chinese mainland and the Hong Kong Special Administrative Region. The Joint Venture will be registered in both the Chinese mainland and the Hong Kong Special Administrative Region, ensuring compliance with local laws and regulations and obtaining the necessary operating licenses.
In terms of quality enhancement, both parties will jointly invest resources to develop ERC eco-friendly, multi-functional new materials. These products will primarily be applied to eco-friendly building materials and new construction materials, aiming to improve the environmental performance and health standards of buildings, promote innovation and development in the construction industry, and achieve new quality productive forces, providing more eco-friendly options for future construction projects.
In terms of market expansion, the Joint Venture will actively explore domestic and international markets, aiming for extensive market recognition and promoting products through various channels, including exhibitions, industry forums, and online platforms. This collaboration marks an in-depth cooperation between the two companies in the field of green technology, aiming to address the environmental challenges faced by the construction industry and achieve positive results in industrial optimization and upgrading, cooperating with relevant industry associations and government departments to promote the formulation and implementation of green building standards.
In terms of efficiency enhancement, the new products will not only focus on environmental protection but also pay special attention to the health of humans and pets. The Joint Venture will conduct rigorous product testing to ensure safety and effectiveness, and the development of eco-friendly, multifunctional new materials can lower costs, improve the environmental performance and resource efficiency of construction projects, and contribute to a more systematic and comprehensive consideration of the development process of carbon neutrality.
Comprehensive Cultivation of Low-Carbon Awareness to Support Carbon Neutrality Goals
Dr. David Chung, Chairman of APEL, summarized, "The results of this cooperation project are of great significance for the development of Hong Kong and the Greater Bay Area. This is not only an important step for us in the field of green buildings; the project is dedicated to promoting the low-carbon transformation of Hong Kong and the Greater Bay Area, helping to achieve carbon neutrality goals. This will contribute to environmental protection and ecological balance in the region, enhancing overall environmental quality. The establishment and operation of the Joint Venture will drive the development of related industries, create job opportunities, and promote economic growth; the successful promotion of the project will also attract more investment, further advancing regional economic development.
As the demand for green real estate and property management services increases among RCEP member countries, we will strengthen cooperation with various sectors in the region. By expanding domestic and international markets, the project will enhance Hong Kong and the Greater Bay Area's position and influence in the international environmental protection industry, increasing regional competitiveness and innovation capability. At the same time, this project pays special attention to the health of humans and pets by developing safe and eco-friendly building materials to improve the health standards of living environments. This will help enhance residents' overall health and reduce health risks. Overall, this project not only promotes the development of the environmental protection industry but will also make significant contributions to the sustainable development and low-carbon transformation of Hong Kong and the Greater Bay Area."
About APEL Absolute Pure EnviroSci Limited (APEL), an indirect non-wholly owned subsidiary of Yee Hop Holdings Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 1662.HK), with a mission to improve the quality of life and living environment, is principally engaged in the business of distribution, research and development of specialty biomedical and biochemical products. APEL looks forward to working with researchers who aspire to help the green industries in Hong Kong grow, contributing together to the city and the Greater Bay Area’s low- carbon transformation and advance towards carbon neutrality, and also give the city impetus to pursue reindustrialization vital to her long-term prosperity.
