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Public company info - China Smarter Energy Group Holdings Ltd. , 01004.HK

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China Smarter Energy Group Holdings Ltd., 01004.HK - Company Profile
Chairman Sun Liang
Share Issued (share) 4,294,967,295
Par Currency Hong Kong Dollar
Par Value 0.0025
Industry Investments & Assets Management
Corporate Profile Business Summary: The Group is principally engaged in Clean energy, investment holding and trading in securities, the manufacture and sale of fur garments, the trading of fur skins , Mining Business(as discontinued operation). Performance for the year: During the financial year under review, the Group recorded a negative revenue of approximately HK$124,636,000 as compared to the revenue of approximately HK$253,157,000 in last year. The net loss of the Company for the current year amounted to HK$351,909,000 as compared to a net loss of HK$320,080,000 in last year. BUSINESS REVIEW Clean Energy Business Clean-energy power generation business is the key development of the Group at this stage. Up till now, the clean-energy power generation controllable on-grid production capacity of the Group is approximately 130MW, all of which are photovoltaic power generation projects locating in two provinces, Gansu and Shandong, and one municipality, Shanghai. During the Year, the on-grid power generation was approximately 117,745,000 kilowatt hour(s) ( “ KWh ” ) (2016: 112,256,000KWh) and generated revenue of approximately HK$105.7 million as compared to revenue of approximately HK$115.1 million in 2016. The revenue was primarily contributed by a 100% owned subsidiary, Jinchang Jintai Photovoltaic Company Limited 金昌錦泰光伏電力有限公司, which has an aggregate production capacity of 100MW. Loss of HK$26,248,000 was recorded during the Year as compared to a loss of HK$195,000 in last year. The significant increase in loss was mainly due to decrease of revenue as a result of restriction of power output during the year ended 31 March 2017 and increase of depreciation as a result of new power plants came into operation during the year ended 31 March 2017. Investment Business Trading in securities During the Year, the net realised and unrealised loss resulting from trading of listed equity securities was HK$232,302,000 (2016: realised and unrealised gain of HK$130,072,000). The loss was mainly due to realised and unrealised loss resulting from decrease in market value of the group's investment in China Innovative Finance Group Limited (stock code: 412) as compared to 2016 which had an unrealised gain from increase in market value. Investments During the Year, the Group invested HK$220.75 million in three unlisted companies so as to utilise its funds for potential high return on one hand, to diversify its investments and hence reduce business risk on the other. The Group will closely monitor the market conditions and may consider to change its portfolio of investment from time to time. Subsequent to an assessment towards the investments, an impairment loss of HK$15 million was recorded for the Year. Trading Business Trading is the Group ’ s traditional line of business. The trading of fur-related products once accounted for a significant portion of the Group ’ s operation. However, fur-related products becomes less popular and as such, the Group ’ s fur trading business declines gradually over the years. In an attempt to revive the trading business, the Group reviews the operation of trading and considers to, among other things, introduce new trading items so as to widen the trading portfolio of the Group. In this regard, the Group entered into a strategic cooperation agreement with Intelligence Cinda International Investment Limited (融智信達國際投資有限公司) , a company incorporated under the laws of Hong Kong with limited liability and an independent third party, pursuant to which the parties concerned agreed to form a strategic alliance in relation to the joint development of an international bulk commodities, including energy products and trading platform. Prospects: Response to global climate change has become a major topic around the world in recent years. Under such background, the global energy system accelerated the transition to low-carbon energy. As such, utilisation of renewable energy at large-scale as well as cleansing and low-carbonisation of traditional energy use will be the basic trend in energy development, and expediting the development of renewable energy has become a mainstream strategy in the global energy transition. The Paris Agreement came into effect in November 2016, which meant that the development of new energy will be further accelerated. In addition, the PRC expressly stated in its basic national policy that the country shall persist in saving resources and protecting the environment, and set the fundamental target for energy development, that is, the carbon dioxide emission of the PRC will reach the peak by 2030, and the proportion of non-fossil energy in primary energy consumption will increase to 20%. With the new urbanisation development, the construction of a green, recycling and low-carbon energy system has become necessary for the social development, which provided a favourable social environment and a broad market for the development of renewable energy such as solar power. Solar power enjoys unique advantages in terms of accessibility and energy structure adjustment, and has been widely applied all over the world, and the photovoltaic industry has entered into a new phase of large-scale development. In future, the Group will speed up the development and investment progress of its principal businesses, adhere firmly to its corporate strategy, intensify its efforts in project mergers and acquisitions as well as cooperative development, improve project operation management standard to fully enhance its asset management capability. The Group establishes the vision of “ strategy is core competitiveness ” and focus on the collection, research and analysis of information, which includes domestic and overseas clean energy related industrial policies, regional electric energy market and industry development prospect. On this basis, the Group will establish the practicable development strategies with strategic forward-looking prospective that are in line with its own actual situation, laying the foundation in maintaining its leading position in the competitive environment.

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