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CANVEST ENV (01381.HK): Received the administrative decision from the Xinyi Housing and Urban-Rural Development Bureau and is now actively pursuing administrative litigation.
On April 11, Gelonghui reported that CANVEST ENV (01381.HK) announced that on April 7, 2025, the company received an administrative decision from the Housing and Urban-Rural Development Bureau of Xinyi City, Guangdong Province ("the Bureau") regarding the performance of the franchise agreement for the green energy environmental power generation project by Xinyi CANVEST ENV Electrical Utilities Co., Ltd. ("Xinyi CANVEST"). According to the decision, Xinyi CANVEST is accused of accepting ash from waste incineration generated outside Xinyi City without prior approval from the Bureau during the period from 2020 to March 2024, and disposing of such ash at the landfill designated in the contract.
CANVEST ENV (01381.HK) subsidiary is being claimed 0.108 billion yuan for accepting incineration fly ash generated outside of Xinyi City without prior consent from the Xinyi City Housing and Urban-Rural Development Bureau.
CANVEST ENV (01381.HK) announced that on Monday (7th), it received an administrative decision from the Housing and Urban-Rural Development Bureau of Xinyi City, Guangdong Province, regarding its indirectly wholly-owned subsidiary, Xinyi CANVEST, concerning the performance of the franchise agreement for the green energy environmental power generation project in Xinyi City. According to the decision, Xinyi CANVEST was accused of receiving incineration fly ash generated outside of Xinyi City without prior approval from the bureau during the period from 2020 to March 2024, and disposed of such fly ash at the landfill designated in the contract, generating revenue of 0.108 billion yuan.
CANVEST ENV: Annual Report 2024
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