NewTimeSpace · 2026/06/18 17:18 ·
By
Boyuan Chen
NewTimeSpace News: Weigang Environmental Technology Holding Group Limited (01845.HK) announced on 18 June that it has terminated the joint venture agreement signed in March 2025 and will dissolve the joint venture entity amid shifts in business environment and corporate strategy. No capital contributions have been injected and the JV has never commenced operations. Dissolution procedures are expected to be completed within Q3 2026. The Group stated the termination will not materially adversely affect its financial performance and operations.
NewTimeSpace News: On 18 June 2026, Weigang Environmental Technology Holding Group Limited (01845.HK) issued an announcement. In light of changes in the business environment and corporate strategy, Dehui Environment, the Company’s indirectly wholly-owned subsidiary, entered into a termination agreement with Changzhou Rongzhixiang on 18 June 2026. Both parties agreed to voluntarily wind down the business of the joint venture company, formally terminate the joint venture agreement and proceed with dissolution and deregistration of the JV.
Both sides confirmed no breaches of contract occurred during the term of the original agreement, and neither party shall bear any liabilities to the other. The dissolution and deregistration are subject to approvals from relevant PRC government authorities, with completion anticipated within the third quarter of 2026.
The Company previously announced the signing of the joint venture agreement on 21 March 2025, under which the parties planned to establish a JV to leverage their respective strengths in resource recycling technologies. To date, neither party has made any capital contributions to the joint venture, which has not launched any operations since its incorporation. The Group advised that the termination will not bring material adverse impacts on the Group’s financial performance and daily operations, and the move is in the overall interests of the Company and its shareholders.
