Initial joint project in Fuzhou expected to generate an increase in revenue by more than 50% over next three years
SHENZHEN, China, June 18, 2024 (GLOBE NEWSWIRE) -- CDT Environmental Technology Investment Holdings Limited (NASDAQ: CDTG) ("CDT"), a leading provider of waste treatment systems and services throughout China, announces the signing of a strategic cooperation agreement with a subsidiary of a large state-owned construction group in China. The parent company of the state-owned construction group is among the top 40 in ENR's 2023 ranking of the world's largest contractors.
Under the terms of the agreement, the two parties will jointly plan and build a number of infrastructure and construction projects in Fuzhou New Area, involving water, sewage treatment, roads, and pipelines, with an estimated value of more than RMB 3 billion -- with an estimated 1 billion RMB net to CDT -- which will contribute to an expected increase in CDT’s revenue by more than 50% in the next 3-5 years. Fuzhou New Area is the 14th State-level new district in China, established in September 2015, and is expected to model a new path of urbanization and promote the integrated development of urban and rural areas. Fuzhou New Area is located in the coastal area of Fuzhou, which is the capital city of Fujian Province, with a planned area of 800 square kilometers and a current permanent population of 1.55 million.
While leveraging each party’s particular expertise, they will also share resources and improve project competitiveness and operational efficiency. As a local company, CDT has local network resources and market influence, while the large state-owned builder is positioned with the resources and financial strength to bid for the largest and most desirable projects throughout the region. The cooperation between the two sides is expected to produce synergies.
"This is an important step for us in the domestic market and will also significantly help the infrastructure construction and economic development of Fuzhou New Area," said Yunwu Li, CDT CEO. “This strategic cooperation will undoubtedly further enhance the market position of CDT. Investors and the market can expect the company to demonstrate synergistic value in more areas and create superior results. In addition to this cooperation, CDT and its partners will also cooperate on projects in other regions of China. As a company rooted in China, we remain committed to promoting the modernization of domestic infrastructure and continued economic prosperity through cooperation with top enterprises,” Mr. Li concluded.
As a key development and construction area of Fuzhou City, the new district will become an important strategic market for CDT. Further opportunities exist for the collaboration to work on jointly in East China, which will continue to expand CDT’s market share in East China and significantly enhance the company's competitive positioning throughout its markets in China.
About CDT Environmental Technology Investment Holdings Limited
CDT, headquartered in Shenzhen, China, is a leading national player in China's waste treatment sector that designs, develops, manufactures, sells, installs, operates and maintains sewage treatment systems and provides sewage treatment services in China, and is dedicated to promoting sustainable development through innovative solutions. Founded by pioneers in waste treatment, CDT aims to advance next-generation technologies that directly address environmental challenges and promote sustainable solutions. CDT is a recognized brand in China and is committed to innovation and customer satisfaction.
CDT’s mission is to help its customers achieve their critical infrastructure objectives while enabling positive change in technological environmental protection. It collaborates with industry leaders, environmental experts, and stakeholders to develop and implement advanced waste treatment solutions. Recently listed on the Nasdaq Capital Market, CDT is a prominent player in the waste treatment market, capable of providing comprehensive solutions to diverse customer needs, and has completed more than 150 plants across China.
For more information, visit CDT’s website at https://www.cdthb.cn.
Forward Looking Statements
This press release contains forward-looking statements that are based on the beliefs and assumptions of the management of CDT and on information currently available to such management. These forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond CDT’s control. Words such as “will,” “future,” “expects,” “believes,” and “intends,” or similar expressions, are intended to identify forward-looking statements. All statements, other than statements of historical fact, contained in this press release, including statements regarding future events, future financial performance, business strategy and plans, and objectives of CDT for future operations, are forward-looking statements. Although CDT does not make forward-looking statements unless it believes it has a reasonable basis for doing so, CDT cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, levels of activity, performance or achievements of CDT and its markets to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on any forward-looking statement. CDT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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212-655-0924
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