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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  China CAMC Engineering Co., Ltd.    002051   CNE000001N13

CHINA CAMC ENGINEERING CO., LTD.

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China CAMC Engineering : Uzbekistan signs memorandum with Chinese companies in renewable energy field

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08/31/2019 | 08:21am EST

Baku, Azerbaijan, Aug 31

By Fakhri Vakilov-Trend:

A delegation of the Ministry of Energy of Uzbekistan has concluded a Memorandum of Understanding on cooperation in the field of renewable energy sources with China CAMC Engineering Co. Ltd and China Energy Conservation and Environmental Protection Group (CECEP), Trend reports referring to the press service of the Ministry of Energy of Uzbekistan.

The parties signed the memorandum to study the possibility of implementing an environmental project to generate electricity by burning household waste in Namangan region of Uzbekistan during the fifth meeting of the Subcommittee of Uzbekistan and China on cooperation in the field of energy, which was held in Beijing on August 26 for preparation of the meeting of the Uzbek-Chinese Intergovernmental Committee for Cooperation.

The project will be implemented with direct investment of Chinese companies.

The parties of the Subcommittee expressed their willingness to cooperate in the development of industry standards in the field of solar energy and the establishment of appropriate testing laboratories in Uzbekistan by attracting leading Chinese companies and sharing experiences.

In addition, the parties considered the prospects and main issues of cooperation in the oil and gas, coal, electric power, natural uranium and renewable energy sources.

An agreement was reached between the sides of Subcommittee on expanding cooperation in the field of petrochemistry, advanced processing of raw materials and production of value-added products, and localization of production.

Decisions were made to intensify the work by organizing meetings at the expert level and detailed elaboration of promising projects. The parties will support companies in Uzbekistan and China in the implementation of relevant projects on economically advantageous conditions, the report said.

It was agreed to hold the next meeting in Tashkent (Uzbekistan).

CAMC is a member of the China National Engineering Corporation (SINOMACH) group of companies. It was founded in May 2001, and since June 2006, the company's shares are listed on the Shenzhen City Stock Exchange. CAMC is the first company to be allowed to issue new shares (IPOs) on the stock exchange following a transitional reform of stock exchanges in China.

China Energy Conservation and Environmental Protection Group (CECEP) is the largest service-oriented scientific industrial group in the energy conservation and environmental protection field in China. At present, the Group owns 419 subsidiaries and six listed companies which are distributed in about 30 provinces in the country and 40 countries/regions abroad.

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Follow author on Twitter:@vakilovfaxri

© 2019 Trend News Agency ALL RIGHTS RESERVED, source News Service

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Financials (CNY)
Sales 2019 11 961 M
EBIT 2019 1 258 M
Net income 2019 1 023 M
Finance 2019 6 079 M
Yield 2019 3,14%
P/E ratio 2019 10,2x
P/E ratio 2020 8,42x
EV / Sales2019 0,35x
EV / Sales2020 0,33x
Capitalization 10 221 M
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Average target price 10,25  CNY
Last Close Price 8,26  CNY
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Yan Luo Chairman & General Manager
Hui Shi Chairman-Supervisory Board
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De Cheng Wang Independent Director