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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  SPT Energy Group Inc.    1251   KYG8405W1069

SPT ENERGY GROUP INC.

(1251)
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SPT Energy : ANNOUNCEMENT MADE PURSUANT TO RULES 13.51B(2) AND 13.51(2)(s) OF THE LISTING RULES

10/11/2019 | 08:41am EST

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.

SPT Energy Group Inc.

華油能源集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1251)

ANNOUNCEMENT MADE PURSUANT TO RULES 13.51B(2) AND

13.51(2)(s) OF THE LISTING RULES

This announcement is made pursuant to Rules 13.51B(2) and 13.51(2)(s) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Reference is made to an order made by a Disciplinary Committee (the "Committee") of the Hong Kong Institute of Certified Public Accountants (the "Institute") regarding Mr. Wu Kwok Keung Andrew ("Mr. Wu"), an independent non-executive director of SPT Energy Group Inc. (the "Company") on 29 August 2019.

According to a press release of the Institute dated 9 October 2019, the Committee reprimanded a firm of certified public accountants and Mr. Wu for their failure or neglect to observe, maintain or otherwise apply professional standards issued by the Institute for their involvement in the unmodified auditor's opinions on the consolidated financial statements of a listed company and its subsidiaries for the nine months ended 31 December 2002 and for the year ended 31 December 2003, and ordered that firm of certified public accountants and Mr. Wu to pay penalties of HK$350,000 and HK$100,000 respectively. In addition, that firm of certified public accountants and Mr. Wu were ordered to jointly pay costs of the disciplinary proceedings in the sum of HK$184,690.

Given the terms of the order and the absence of allegation or finding of fraud or dishonesty against Mr. Wu, the board of directors of the Company (the "Board") considers that the order would not affect Mr. Wu's ability to continue to discharge his duties as an independent non-executive director of the Company. So far as the Board is aware, there is no other information concerning the circumstances above that needs to be brought to the attention of the shareholders of the Company.

By order of the Board

SPT Energy Group Inc.

Mr. Wang Guoqiang

Chairman

Hong Kong, 11 October 2019

As at the date of this announcement, the executive directors are Mr. Wang Guoqiang, Mr. Ethan Wu, Mr. Li Qiang and Mr. Wu Jiwei; the non-executive director is Ms. Chen Chunhua; and the independent non-executive directors are Ms. Zhang Yujuan, Mr. Wu Kwok Keung Andrew and Mr. Wan Kah Ming.

*  For identification purpose only

Disclaimer

SPT Energy Group Inc. published this content on 11 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2019 12:40:08 UTC


© Publicnow 2019
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Financials
Sales 2020 1 486 M 227 M 227 M
Net income 2020 54,6 M 8,35 M 8,35 M
Net cash 2020 292 M 44,6 M 44,6 M
P/E ratio 2020 11,2x
Yield 2020 -
Capitalization 621 M 80,1 M 94,9 M
EV / Sales 2020 0,22x
EV / Sales 2021 0,25x
Nbr of Employees 4 461
Free-Float 64,9%
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 0,22 CNY
Last Close Price 0,34 CNY
Spread / Highest target -20,6%
Spread / Average Target -33,5%
Spread / Lowest Target -41,5%
EPS Revisions
Managers
NameTitle
Dong Fang Wu Chief Executive Officer & Executive Director
Guo Qiang Wang Chairman & Secretary
Zhi Guo Li COO & Manager-Project Expansion Department
Qiang Li Chief Financial Officer, Executive Director & VP
Wen Jiang Wan Vice President & Head-Engineering Technology
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