Canvest Unit Ordered to Compensate Xinyi, China for Illegal Ash Dumping; Appeal Filed

MT Newswires Live

Apr 11

The housing and urban construction bureau of Xinyi, China ordered a Canvest Environmental Protection (HKG:1381) subsidiary to compensate the city government 108.3 million yuan for disposing of waste incineration fly ash in the city's dumpsite without prior approval.

Xinyi Canvest Environmental Power allegedly disposed of the waste product, which was generated outside the city, without a permit from 2020 to 2024, according to a Friday filing with the Hong Kong bourse.

Xinyi Canvest will file a counter-administrative proceeding before a court in Maoming, China, the filing said.

The company said it is "committed to maintaining the highest standards of corporate governance and compliance with all applicable laws and regulations."

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