ZhongDe Waste Technology AG Finalizes Agreement With Capital Yield Group

ZhongDe Waste Technology AG and Capital Yield Group Limited have finalized an amendment agreement. This deal involves an equivalent exchange between the equity of King Trade Group Ltd and the remaining balance for the share purchase price of Chung Hua Group.

The agreement concerns a balance of EUR 104 million for the equity of Chung Hua Environmental Protection Assets, a subsidiary of ZhongDe. King Trade Group, a Capital Yield subsidiary, holds three mining rights in the East Gobi, Mongolia, valued at approximately EUR 317 million.

The company seeks to leverage its new coal resources in response to increased demand due to global energy shifts. Furthermore, ZhongDe aims to expand its focus to chemical products and renewable energy markets in Europe, amidst a saturated waste-to-energy industry in China.

After management changes and pandemic-related delays, ZhongDe plans to resume financial audits to restore investor confidence.