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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  China Singyes Solar Technologies Holdings Limited    750   BMG2161E1113

CHINA SINGYES SOLAR TECHNOLOGIES HOLDINGS LIMITED

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China Singyes Solar Technologies : SUPPLEMENTARY ANNOUNCEMENT - POSITIVE PROFIT ALERT

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08/17/2020 | 06:48am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SUPPLEMENTARY ANNOUNCEMENT -

POSITIVE PROFIT ALERT

This announcement is made by China Shuifa Singyes Energy Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference has been made to an announcement of the Company dated 30 July 2020 (the "Announcement"). After considering the gain arising from the open offer, repurchase and cancellation of senior notes as disclosed in the Announcement, The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company and potential investors that based on a preliminary review on the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and information currently available to the Company, the Group expects the profit for the period attributable to owners of the Company for the six months ended 30 June 2020 would be ranging from RMB180 million to RMB220 million, while the Group recognised a loss attributable to the owners of the Company of RMB468 million in the six months ended 30 June 2019. The substantial improvement in business of the Group was mainly because of the increase in gross profit of the Group's EPC business after the completion of the debt restructuring in November 2019.

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The information contained in this announcement is not based on any information or figures which have been reviewed by the Company's auditors or the Audit Committee of the Company. Shareholders and potential investors of the Company should peruse this announcement with care and review the interim results announcement of the Company for 1H2020, which is expected to be released in August 2020.

By order of the Board

China Shuifa Singyes Energy Holdings Limited

Mr. Zheng Qingtao

Chairman

Hong Kong, 17 August 2020

As at the date of this announcement, the executive Directors are Mr. Zheng Qingtao (Chairman), Mr. Liu Hongwei (Vice Chairman), Mr. Wang Dongwei and Mr. Chen Fushan, the non-executive Directors are Ms. Wang Suhui and Mr. Zhang Jianyuan, and the independent non-executive Directors are Dr. Wang Ching, Mr. Yick Wing Fat, Simon and Dr. Tan Hongwei.

- 2 -

Disclaimer

China Singyes Solar Technologies Holdings Ltd. published this content on 17 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2020 09:47:15 UTC


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Financials
Sales 2019 3 307 M 493 M 493 M
Net income 2019 -995 M -148 M -148 M
Net Debt 2019 4 649 M 694 M 694 M
P/E ratio 2019 -0,86x
Yield 2019 -
Capitalization 1 283 M 192 M 191 M
EV / Sales 2018 1,63x
EV / Sales 2019 1,99x
Nbr of Employees 1 400
Free-Float 25,0%
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Managers
NameTitle
Qing Tao Zheng Chairman
Yang Yang Guo Co-Chief Financial Officer
Hong Wei Liu Vice Chairman
Ching Wang Independent Non-Executive Director
Wing Fat Yick Independent Non-Executive Director
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