Milestones

The following table sets out the key milestones of our development:

Year Milestone
2022 Disposal of Haian Hengfa Facility
2021 Acquisition of the power supply plant in IndonesiaIncrease in water tariffs for Rugao Hengfa Facility
2019 Development of biofuel pellet business in IndonesiaIncrease in water tariffs for Haian Hengfa Facility
2016 Acquisition of the biomass power generation plant in IndonesiaDisposal of Rugao Honghao Facility
2015 Completion of upgrade works of the Rugao Hengfa FacilityRugao Honghao Facility obtained a permit for sewage discharge
2014 Listed on the Stock Exchange of Hong Kong (1395.HK)Commencement of the upgrade works of the Rugao Hengfa FacilityCompletion of the upgrade works of the Haian Hengfa Facility
2013 Acquired the entire issued share capital of Greatcorp, which in turn owned the entire share capital of Rugao Honghao, which operates the Rugao Honghao FacilityEntered into BOT agreement with Haian County Construction Bureau for the Haian Hengfa Facility (Phase II)
2010 Completion of construction of the Rugao Hengfa Facility (Phase II)Commencement of operations of the Rugao Hengfa Facility (Phase II)
2009 Commencement of construction of the Rugao Hengfa Facility (Phase II)Entered into BOT agreement with Rugao ETDZ Administrative Committee for the Rugao Hengfa Facility (Phase II)Completion of construction of the Haian Hengfa Facility (Phase II)Commencement of operations of the Haian Hengfa Facility (Phase II)
2008 Commencement of construction of the Haian Hengfa Facility (Phase II)
2007 Commencement of operations of the Rugao Hengfa Facility (Phase I)
2006 Completion of construction of the Rugao Hengfa Facility (Phase I)
2005 Completion of construction of the Haian Hengfa Facility (Phase I)Commencement of operations of the Haian Hengfa Facility (Phase I)
2004 Commencement of construction of the Rugao Hengfa Facility (Phase I)
2003 Commencement of construction of the Haian Hengfa Facility (Phase I)Entered into BOT agreement with the Rugao Economic and Technological Development Zone (“Rugao ETDZ”) Administrative Committee for the Rugao Hengfa Facility (Phase I)Establishment of Rugao Hengfa
2002 Entered into BOT agreement with Haian County Construction Bureau for the Haian Hengfa Facility (Phase I)Establishment of Haian Hengfa