OnAugust 18, 2020, the French Veolia Environmental Group and Jiangsu DDBSEnvironment Co., Ltd. jointly held a merger and acquisition handover meeting,and the Sino-foreign joint venture "DDBS Environmental Remediation Co.,Ltd." officially appeared. This marks the conclusion of VeoliaEnvironmental Group's investment and acquisition in the former Jiangsu DDBSEnvironmental Remediation Co., Ltd., and the formal cooperation vision ofVeolia and China to build a global engineering technology center for soil andgroundwater remediation and a world-class environmental remediation companyStarted.

Atpresent, China's soil, groundwater and other resources are facing seriouspollution impacts, which have threatened housing, food safety and sustainableagricultural development. As the earliest scientific and technologicalenvironmental engineering company specializing in soil and groundwaterpollution restoration and treatment in Jiangsu Province, "DDBS" hasbeen deeply involved in the restoration of contaminated sites for more than tenyears and has become a high-tech enterprise with technical strength andindustry influence in the domestic environmental restoration field. , Has beenrated as the annual "domestic soil remediation leading enterprise"and "the most growing environmental remediation enterprise", rankingin the forefront of the domestic industry, with unique local advantages.

VeoliaGroup was founded in 1853 in France. It is a Fortune 500 company and a leaderin the field of global environmental services. As an internationalenvironmental service company, Veolia has been actively following andsupporting the development of China’s environmental governance over the years.It is committed to providing industrial and municipal customers with solutionstailored to local conditions, and has also invested in the construction of anumber of advanced and standardized solid waste products, water, energyservices and other types of environmental service companies. Following thestandardization of the domestic emerging soil remediation market and thedevelopment of leading technology, Veolia finally reached a cooperationconsensus with China on investing in Jiangsu DDBS Environmental RemediationCo., Ltd. after careful inspection and cooperation discussions.

Mr.Gu Xiaoping, general manager of DDBS Environmental Rehabilitation Co., Ltd.,said that Veolia has unique advantages in comprehensive environmentalgovernance, global market layout, standardized corporate management, andlong-term stable development. The two parties adhere to "closelycooperation, complementary advantages, and long-term development." The aimis to reach a consensus on strategic cooperation through friendlyconsultations. Veolia's long-term accumulation in brand, capital strength,technical equipment and management experience is closely integrated with thegrowth advantages of DDBS, which is more conducive to achieving the win-wingoal of common development.

Itis understood that the joint venture "DDBS Environmental RehabilitationCo., Ltd." after the merger will give full play to its local advantagesand gather the technology research and development resources accumulated byVeolia in Europe, North America, Asia Pacific and other regions and China tojointly start building an international High-level technology research anddevelopment bases and experimental centers to create a highland of soil andgroundwater remediation technology in China and the world. The company willalso extensively absorb technical experts, business backbones and outstandingreserve talents domestic and abroad, and cultivate a team of highly qualifiedand experienced talents to help the development of local and Chineseenvironmental industries.