...die Nachricht ist zwar bereits vom 10. August aber deshalb nicht minder positiv:
NEWS RELEASE
CHINA ENERSAVE ACHIEVES 8-FOLD INCREASE
IN 1H07 REVENUE TO S$34.7 MILLION
• Gross profit up 47.4% to S$2.6 million
• Remains focused to be major renewable energy provider in Asia
• Currently negotiating for the acquisition of a coal-fired plant for conversion
into biomass plant
Singapore, 10 August 2007 – China EnerSave Limited (“China EnerSave” or “The
Group”), a pioneer in the renewable energy sector in Asia, achieved an 8-fold jump in its
1H07 revenue to S$34.7 million, driven by significant contributions from its Energy and
Engineering arms. Gross profit rose by 47.4%, mainly attributable to contributions in the
Energy Division.
“Our efforts to tap on the growing China energy market have started to pay off
as we see increasing contributions from our Energy Division. Our market
presence in the sector will continue to be enhanced through the development of
more renewable energy projects, acquisitions and joint ventures. To date, we
remain as one of the largest foreign players in China’s biomass-to-energy
market.”
- Mr Simon Koo, Chief Executive Officer of China EnerSave
Financial and Operations Review
S$(‘000) 1H07 1H06 % Change
Revenue 34,712 4,197 727.1%
Gross Profit 2,562 1,738 47.4%
(Loss)/Profit before Taxation (2,861) 658 -
(Loss)/Profit After Taxation (2,615) 655 -
Net profit attributable to shareholders 750 725 3.4%
EPS (fully-diluted), cents 0.07 0.19
China EnerSave Achieves 8-Fold
Increase In 1H07 Revenue To S$34.7 Million
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Energy
The Group’s Energy division recorded an increase in revenue to S$26.5 million, derived
mainly from the Group’s 51% stake in Yima Jinjiang Comprehensive Utilisation Co Ltd
(“Yima”) which was acquired in September 2006. Yima owns and operates a 270MW
coal-fired power plant. Operating profit also showed an increase to S$2.3 million,
attributable mainly to the commencement operations of the Group’s Huizhou Waste-to-
Energy power plant in addition to contributions from Yima.
Engineering
Revenue from the Group’s Engineering division jumped 74% to S$7 million, attributable
mainly to the Group’s increased 51% stake in Amanda Industries (effected in February
2007) as compared to its previous 23% stake in 1H06 (effected in May 2006). However,
due to the one-off effecting repairs of the fabrication facilities and layoff payment caused
by Typhoon Durian which hit Vietnam in December 2006, operating profit dropped 69%
to about S$0.3 million, partly mitigated by the dilution gains of approximately S$2
million arising from the subscription in a subsidiary.
Group
However, due to the increase in coal prices, rise in finance costs and other gestation
issues arising from the Yima acquisition, the Group incurred a loss before taxation of
S$2.9 million and loss after taxation of S$2.6 million. Overall, net profit attributable to
shareholders increased by 3.4% to S$0.75 million, while fully diluted earnings per share
dropped from 0.19 cents in 1H06 to 0.07 cents in 1H07.
Prospects
Going forward, China EnerSave remains focused on its vision to be a major renewable
energy provider in Asia. The Group aims to own and operate 20 power plants, providing
energy in Asia within the next three years, with special emphasis on the China market.
With over 10 Memorandums of Understanding signed with the various provincial
governments, in addition to the strong government support under the Renewable Energy
Law, China EnerSave is well poised to capitalize on the growing renewable energy
market in China.
The Group sees brighter prospects from its renewable energy in 2H07, with the maiden
revenue from the tipping fees received by its Huizhou Waste-to-Energy plant for its
China EnerSave Achieves 8-Fold
Increase In 1H07 Revenue To S$34.7 Million
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waste burning. At the same time, the Group is also on track for its three biomass plant
developments, of which two are scheduled to complete construction by 2008 and the
remaining one by 2009. To accelerate its inroad into China’s biomass power industry, the
Group will also be exploring acquisitions of small coal-fired plants suitable for conversion
into biomass power plants. The Group is currently negotiating for the acquisition of one
such plant in Sichuan, which will offer lower development costs as well as a shorter time
to commence operations.
About China EnerSave Limited
Singapore-based China EnerSave’s core business is to build, own and operate power
plants in Asia. The Group also has an engineering division that has capabilities covering
the full spectrum of design, construction, fabrication, installation, commissioning,
operation and requisite management competencies related to the energy industry.
Issued for and on behalf of China EnerSave Limited
By Financial PR Pte Ltd
For more information, please contact:
Dave Tan, dave@financialpr.com.sg
Kathy ZHANG, kathy@financialpr.com.sg
Tel: (65) 6438 2990 Fax: (65) 6438 006
Gruß
Prof.Dr.Weissnix
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Rechne immer mit dem Schlimmsten...
und Du kannst nur positiv überrascht werden :-)