Yip’s Chemical Earned HKQAA Green Finance Certificate

Yip’s Chemical Holdings Limited (SEHK: 00408) (“Yip’s Chemical” or the “Group”), the world’s largest manufacturer of acetate solvents and one of China’s major manufacturers of petrochemical products, has announced that the Group has been granted a HK$250 million four-year green loan from HSBC Hong Kong to fund the construction of environmental infrastructure at its plants. The loan was structured in accordance with the Group’s 2018 Green Loan Framework which has earned the Green Finance of Pre-Issuance Stage Certificate issued by the Hong Kong Quality Assurance Agency (“HKQAA”). As at 25 March 2019, Yip’s Chemical became one of the first 13 companies in Hong Kong to earn the Green Finance Certificate (Loan).

Mr. Johnson Ho, Chief Financial Officer of Yip’s Chemical, said, “To realise our medium to long-term vision of ‘A Century of Revered Leadership’, one of the driving elements is to ‘undertake corporate social responsibility’, in which environmental and sustainable development is a vital component and is a major concern of the Group. Being environmentally friendly is one of our operating philosophies. Apart from research and development for environmentally-friendly products that can facilitate sustainable development, this green loan demonstrates how the Group integrates green elements into every facet of our operations starting from the basics. We are grateful for the support of HKQAA and our long-term partner HSBC Hong Kong. This green loan is set to lead the way to a greener production environment.”

The green loan will be mainly used in two projects, the expansion of the Taixing solvent plant in Eastern China and the volatile organic compound treatment project of the Zhongshan ink plant in Southern China. Through these projects, the Group will enhance energy saving and efficiency, emissions reduction and waste treatment during the production process through upgrading equipment and production technologies.

Mr. Johnson Ho, CFO of Yip’s Chemical, (left) attends “Green Finance Certification Scheme Presentation Ceremony cum Forum 2019” organised by HKQAA and receives the Green Finance Certificate (Loan) from Ir C. S. Ho, Deputy Chairman of HKQAA, (right) where the Group is one of the first batch companies in Hong Kong to receive this certificate.