On the evening of December 8, Zhejiang Meixinda Printing and Dyeing Group Co., Ltd. announced that the company intends to change its Chinese name from "Zhejiang Meixinda Printing and Dyeing Group Co., Ltd." to "Wangneng Environment Co., Ltd." Accordingly, the stock abbreviation will change from "Meixinda" to "Wangneng Environment." Meixinda explained that the company has undergone a major asset restructuring, disposing of all assets and liabilities related to the printing and dyeing business and acquiring 100% equity in Zhejiang Wangneng Environmental Protection Co., Ltd. The company has thus transformed and entered the environmental protection industry.

Previously, online reports indicated that on the evening of December 28 last year, Meixinda announced its intention to undergo a major asset swap and issue shares and pay cash for the acquisition of 100% equity in Zhejiang Wangneng Environmental Protection Co., Ltd., with the transaction amount for the target assets being 4.25 billion yuan. Simultaneously, the company planned to raise supporting funds not exceeding 1.5 billion yuan. Before and after this transaction, the actual controller of the listed company remains Dan Jianming.

Information shows that since its establishment, Wangneng Environmental has adopted an aggressive market expansion strategy. It has invested in and operated several waste incineration power generation projects in economically developed, densely populated areas of Zhejiang Province, including Taizhou, Zhoushan, Huzhou, Lanxi, Lishui, Deqing, Anji, and Sanmen, and has extended its business to Hubei, Guangdong, Anhui, Henan, and Sichuan, forming a market expansion layout based on Zhejiang and radiating nationwide.

After the completion of this transaction, the listed company will enter the environmental protection industry, becoming one of the leading enterprises in China's waste incineration power generation industry. It is expected to further expand its existing business through the integration of capital, technology, and customer resources, and use this as a foundation to explore complementary horizontal business layouts, transforming the listed company into an integrated new environmental protection platform that can meet customers' comprehensive, all-round, and multi-level service needs.

Before the transaction, Meixinda was primarily engaged in the printing and dyeing textile business. After the transaction, the main business of the listed company will change from printing and dyeing textiles to waste incineration power generation.

Market analyst Lu Ming also mentioned that the major shareholders of Meixinda, Dan Jianming and his wife, have diversified assets in waste power generation, healthcare, real estate, and financial investments. Their subsidiary, Zhejiang Wangneng Environmental, mainly engages in urban solid waste disposal and urban infrastructure construction; Huzhou Outlook Pharmaceuticals is the largest producer and operator in the domestic pharmaceutical excipients market, with 28 products, four of which are FDA-approved. Additionally, there are Huzhou Meixinda Real Estate, Huzhou Wanbang Microfinance, and private capital management companies. Currently, Meixinda is the only listed company under the major shareholder's name, and the company has repeatedly announced plans to utilize this platform under the backdrop of financial reform. It is expected that the company will become a platform for the integration of group capital in the future.

The financial report reviewed by online reporters shows that from January to September 2017, Meixinda achieved operating income of 360 million yuan, a decrease of 16.83% compared to the same period last year, with total profits of 6.9991 million yuan, a decrease of 1.33% compared to the same period last year. The net profit attributable to shareholders of the parent company was 5.861 million yuan, a decrease of 12.20% compared to the same period last year.