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Infore Envrio Stepped Up in Corporate Governance, Zoomlion Became the Second Largest Shareholder

Release date : 2018-07-17

On January 30th, Infore Environment Technology Group Co., Ltd. (hereinafter referred to as “Infore Enviro”, stock code: 000967) held the first extraordinary general meeting in 2019, where it reviewed and approved the proposal on electing board of directors. The adjustment in the board of directors are important to the company's future development.
After the acquisition of Zoomlion Enviro, Infore Enviro welcomed many strategic investors, which changed its shareholding structure. Currently, the listed entity of the Group are held by Infore Holding, Zoomlion, major investment institutions, corporate management teams, and other individual investors. Infore Investment Holding Group Co., Ltd., as the largest shareholder of Infore Enviro, holds 45.56% of the company's shares; Zoomlion Heavy Industry Science & Technology Co., Ltd., (hereinafter referred to as “Zoomlion”), a leading enterprise in the construction machinery industry with a background of state-owned enterprise in Hunan Province, became the second largest shareholder of Infore Enviro, holding 12.62% of the company's shares; Hony Capital, the leading investment management institution in China, holds 9.81% of the company's shares, making it the company's third largest shareholder; The management of Zoomlion Envrio holds a total of 3.78% of the company’s shares and is the fourth largest shareholder. The variety and diversity of Infore Enviro’s shareholders represent that listed companies are becoming more public, with a more transparent and more standardized corporate governance.
As an important investor of Infore Enviro, Zoomlion was founded in 1992, formerly known as Changsha Machinery Research Institute under the (former) Ministry of Construction. It has more than 60 years’ experience in engineering machinery technology, mainly engaged in research and development (R&D) and manufacturing of high-tech equipment such as engineering and agricultural machinery. With more than 20 years of innovation and development, Zoomlion has gradually grown into a global enterprise with leading products covering 9 categories, 49 product lines and more than 800 varieties. Since 2001, Zoomlion has participated in the reform, restructuring and transformation of traditional state-owned enterprises through reorganizations and acquisitions, and has implanted new mechanisms and technologies, achieving both economic and social benefits. Till now, Zoomlion has successively listed in Shenzhen Stock Exchange and Hong Kong Stock Exchange, becoming the first listed company with A+H share in the industry. In the new round of reforms since the Third Plenary Session of the 18th Central Committee, the institutional innovation of Zoomlion was recognized as “model” enterprise of mixed-ownership reform by the State-owned Assets Supervision and Administration Commission of the State Council.
The cooperation between Infore Enviro and Zoomlion is beneficial to the two companies in carrying out wider and deeper exchanges in the high-end equipment business and technology of engineering machinery, so as to further enhance the competitiveness of the listed company in the field of environmental protection environmental protection equipment, and accelerate the process for the company to be the leader in intelligent environmental equipment and services.
Introduction of Infore Enviro’s New Board of Directors
Members of the new Board of Directors are: Ma Gang, Kuang Guangxiong, Shen Ke, Chen Peiliang, Li Yingzhao, Yu Haiyong and Shi Shuiping
After the adjustment in the Board of the listed company, three new directors were introduced, who not only facilitated the optimization of corporate governance, but also fully represented the interests of the major shareholders. Mr. Kuang Guangxiong, Vice President of Infore Group, joined the Board of Directors as the representative of the holding shareholder. His rich financial management experience is conducive to the scientific decision in the resolution of the Board of Directors of the listed company. Mr. Shen Ke from Zoomlion joined the Board as the representative of the second largest shareholder, who is helpful in the synergetic operation between Infore Enviro and Zoomlion in business and technology, so as to promote the development of high-end equipment manufacturing for the listed company; Mr. Chen Peiliang, Vice President of Infore Enviro and CEO of Zoomlion Enviro, joined the Board as the representative of Zoomlion Enviro’s management, with the aim to promote the smooth acquisition.
The adjustment in the Board has laid a solid foundation for the future development of Infore Enviro, helping reach a new level in corporate governance, and ensuring the steady implementation of the company's development strategy. Under the leadership of the Board, Infore Enviro will reward its shareholders with excellent performance, adhere to the culture of “simplicity, professionalism and fast execution” and insist in the core value that “customers first; employees are our business partners; performance-oriented, promoting the outstanding staff and delaying the poor; technological innovation is the foundation of our development." The company will constantly move forward to achieve the corporate vision of "Cleaner World Better Future", and strive to become a respected and reliable leader in intelligent environmental sanitation equipment and service with its sanitation robots!

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