新奥

          On November 2, NNFE Investment Fund Management (Beijing) Co., Ltd. (hereinafter referred to as "NNFE Investment") of NNFE Holdings has formally signed the Agreement on Cooperation Framework for Industrial Investment Funds with China Recycling Development Co., Ltd. (hereinafter referred to as "China Recycling") for a total investment of 800 million Yuan, mainly invested in the resource recycling and comprehensive utilization industry-related subjects in accordance with the strategic development direction of China Recycling.

          According to the Agreement, NNFE Investment and China Recycling will jointly contribute to the establishment of an industrial investment fund, mainly invested in the resource recycling and comprehensive utilization industry-related subjects in accordance with the strategic development direction of China Recycling. Both parties have strong strength and similar ideas of development, attach great importance to ecology, environmental protection and sustainable development, and are committed to building an influential recycling economy demonstration projects throughout the country.

          China Recycling Development Co., Ltd. is an enterprise of All-China Federation of Supply and Marketing Co., Ltd., with a total assets of more than 10 billion Yuan and an annual sales volume of more than 20 billion Yuan, which is the leading enterprise of the recycling economy in China. At present, seven major regional recycling networks in all provinces and cities of our country, such as the circum-Bohai-Sea, Northeast China, East China, South Central, South China, Southwest China and Northwest China have been set up, with nearly 50 branches and subsidiaries, as well as 11 large-scale national renewable resource industry demonstration bases, 3 regional distributed trading markets, more than 70 sorting centers and more than 5,000 recycling outlets, forming a network system integrating collection, sorting, processing and finished products throughout the country, so as to provide important support for the national development of circular economy and achieving sustainable development.

          The strategic cooperation between NNFE Investment and China Recycling is not only the strategic measures taken by both parties to grasp the macro-economic situation and aim at the resources recycling and the comprehensive recycling industry to accelerate the industrial structure adjustment, but also the important practice of implementing the National 13th Five-Year Plan for Development. NNFE Investment and China Recycling will build deeper strategic partnerships, and further explore more fields, deeper cooperation and strong union for achieving mutual benefit and win-win and common development.