Beijing enterprises clean energy group limited private company information – bloomberg electricity distribution companies

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Beijing Enterprises Clean Energy Group Limited engages in the investment, development, construction, operation, and management of photovoltaic power plants in the People’s Republic of China. The company develops and constructs distributed photovoltaic power stations; and provides engineering, procurement, construction, and technical consultancy services for photovoltaic power-related projects and wind power projects, as well as trades in equipment related to photovoltaic power business. It also engages in the infrastructure development and operation of wind power plants and clean energy projects. The company was formerly known as Jin Cai Holdings Company Limited and changed its name to Beiji…

Beijing Enterprises Clean Energy Group Limited engages in the investment, development, construction, operation, and management of photovoltaic power plants in the People’s Republic of China. The company develops and constructs distributed photovoltaic power stations; and provides engineering, procurement, construction, and technical consultancy services for photovoltaic power-related projects and wind power projects, as well as trades in equipment related to photovoltaic power business. It also engages in the infrastructure development and operation of wind power plants and clean energy projects. The company was formerly known as Jin Cai Holdings Company Limited and changed its name to Beijing Enterprises Clean Energy Group Limited in June 2015. Beijing Enterprises Clean Energy Group Limited was founded in 2000 and is headquartered in Wanchai, Hong Kong.

The board of directors of Beijing Enterprises Clean Energy Group Limited announced consolidated earnings results for the year ended 31 December 2017. For the year, the company reported revenue of HKD 10,039,549,000 against HKD 2,890,176,000 a year ago. Profit before tax was HKD 1,862,233,000 against HKD 666,485,000 a year ago. Profit attributable to equity holders of the company was HKD 1,560,348,000 or 2.67 cents per diluted share against HKD 505,101,000 or 1.01 cents per diluted share a year ago. EBITDA was HKD 2,847,849,000 against HKD 889,169,000 a year ago. The increases in the Group’s revenue, profit for the year and profit attributable to the equity holders of the Company during the year ended 31 December 2017 as compared to the year ended 31 December 2016 were mainly driven by the performance of (i) the sale of electricity in respect of the Photovoltaic Power Business and the Wind Power Business; and (ii) the provision of engineering, procurement and construction services for photovoltaic and wind power plant projects. During the year ended 31 December 2017, the Group’s total capital expenditures amounted to approximately HKD 8,564.6 million (2016: approximately HKD 9,970.1 million), comprising (i) construction and acquisition of photovoltaic and wind power plant projects, clean heat supply projects, other property, plant and equipment and operating concessions of approximately HKD 4,062.1 million (2016: approximately HKD 1,654.2 million) in aggregate; (ii) addition to prepaid land lease payments of approximately HKD 53.1 million (2016: approximately HKD 17.2 million); (iii) acquisition of other intangible assets of approximately HKD 7.2 million (2016: approximately HKD 2.6 million); (iv) investments in and acquisition of equity interests in subsidiaries, joint ventures, associates and an available-for-sale investment of approximately HKD 4,267.2 million (2016: approximately HKD 8,296.1 million); and (v) acquisition of an investment property of approximately HKD 175.0 million (2016: Nil).

The board informed the shareholders of Beijing Enterprises Clean Energy Group Limited and potential investors of the company that, based on the preliminary review of the unaudited consolidated management accounts of the Group for the year ended 31 December 2017, it is expected that there will be a significant increase of not less than 180% and not more than 220% in the Group’s consolidated net profit attributable to equity holders of the Company for the year ended 31 December 2017 as compared to the Group’s consolidated net profit attributable to equity holders of the Company for the year ended 31 December 2016. Based on the information currently available, the Directors consider that such significant increase is primarily attributable to, among others, the increases in the sale of electricity in respect of the photovoltaic and wind power projects in operation and the provision of engineering, procurement and construction services for photovoltaic and wind power projects during the year ended 31 December 2017.