On December 10, Weiming Environment Protection officially signed a capital increase agreement with Shaanxi Environmental Protection Industry Group Co., Ltd. (hereinafter referred to as Shaanxi Environmental Protection Group), acquiring a 66% stake in its subsidiary, Shaanxi Guoyuan Environmental Development Co., Ltd. (hereinafter referred to as Guoyuan Environmental) through a capital increase and equity expansion.
This acquisition marks another major breakthrough in Weiming's project expansion efforts. Following the capital increase, Guoyuan Environmental will invest in, construct, and operate three waste-to-energy projects under its umbrella: Yan’an Project (1,300 t/d), Yulin Project (1,300 t/d) and Baoji Project (1,500 t/d)
Shaanxi Environmental Protection Group is the first provincial-level state-owned environmental protection enterprise in China, initiated by the Shaanxi Provincial Government and supervised by the Shaanxi State-Owned Assets Supervision and Administration Commission (SASAC). Earlier this month, Weiming Environment Protection received a "Bid Confirmation Notice" from Western Property Rights Exchange Co., Ltd., officially confirming Weiming as the successful bidder for Guoyuan Environmental’s capital increase project.
This year, Weiming Environment Protection has diversified its project expansion strategies. In addition to participating in standalone environmental project tenders and equity investments, the company successfully acquired a 51% stake in Shengyun Environment-Protection through corporate restructuring. The collaboration with Shaanxi Environmental Protection Group represents another successful exploration of new cooperation models, marking Weiming’s deep involvement in the mixed-ownership reform of state-owned enterprises (SOEs).
By leveraging the strengths and advantages of both state-owned and private enterprises, this partnership will serve as a benchmark for private sector participation in SOE reforms, injecting new vitality into corporate development and further enhancing Weiming’s project expansion capabilities.