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Public company info - China Nature Energy Technology Holdings Limited , 01597.HK

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China Nature Energy Technology Holdings Limited, 01597.HK - Company Profile
Chairman Cheng Liquan Richard
Share Issued (share) 250,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Electric Equipment
Corporate Profile Business Summary: The Group is a wind power and pitch control system solution provider in the PRC. Performance for the year: The Group’s revenue increased from RMB57.3 million in FY2017 to RMB144.4 million in FY2018 to RMB222.8 million in FY2019 with CAGR of 97.2%, and increased by 39.4% from approximately RMB36.9 million for 4M2019 to approximately RMB51.5 million for 4M2020. Business Review Pitch control system related R&D, integrating, manufacturing and sales The Group develop, manufacture and sell (i) customised pitch control systems and (ii) customised core components of pitch control systems, such as pitch drive controllers, according to the requirements of the Group’s customers, and generate revenue from product sales and integration charges. The Group’s pitch control system products are integrated with the Group’s proprietary technologies and the premium components that the Group source from KEB Group, a well-established third party manufacturer of engineering systems headquartered in Germany. The Group also offer customised integration services of major components of pitch control systems. The Group’s customers mainly consist of leading wind turbine manufacturers in the PRC, including Envision Group and Shanghai Electric, with whom the Group have established stable relationships. Conceptualisation The Group commence the Group’s development process upon receiving the Group’s customer’s request for customised pitch control systems and core components with specific needs and specifications. Based on the Group’s understanding of technology trends and developments in the wind power industry, the Group place emphasis on the Group’s customer’s needs and engage in preliminary discussion with the Group’s customer as to the design, build and specifications of the solution in development. Design and validation of solutions in development During this development stage, the Group utilise the Group’s technical know-how and R&D function to design and develop the pitch control system design. With the Group’s advanced R&D equipment and technical expertise, the Group’s technical and R&D team engages in various trial and error processes and prototype tests to materialise the design. The time involved in the designing process of an individual pitch control system may vary significantly, depending on the complexity and requirements of the Group’s customer. Upon conceptualising the design, the Group provide the Group’s customer with a design drawing for their review and engage in further discussions to ensure that the design is proximate with the Group’s customer’s operational needs. A prototype of the customised pitch control system based on the aforesaid design is prepared in order to ensure the satisfaction of the specification and functionality requirements of the Group’s customer. The Group then seek for confirmation and approval from the Group’s customer and proceed to finalise the design and confirm the purchase order of the customised pitch control system. Procurement and production The Group undergo production planning with the collaborative effort from the Group’s technical and R&D and production teams. Subsequently, the Group procure the required raw materials and components and commence the production process, during which the Group employ stringent quality control measures with a series of testing under various parameters such as electric performance, wiring etc. Delivery and after-sale services As part of the Group’s solution package, the Group source and deliver to the Group’s customer the manufactured pitch control system based on the finalised design and customisation options. The Group’s customer will then proceed with their respective converting/production processes as part of the overall production value chain for wind turbines. The Group also provide a series of after-sale services for customers purchasing the Group’s customised pitch control systems, which includes technical consultation, on-site inspections and rectifications and repairs. For details, please see ‘‘The Group’s products and services — Pitch control system products and services — After-sale services‘‘ in this section. Wind power generation The Group commenced the Group’s wind power generation business in 2015 by operating the Group’s Duolun Wind Farm in Inner Mongolia, which is a favourable geographical location for optimal wind turbine efficiency and accordingly, power generation efficiency. The Group’s Duolun Wind Farm is a centralised wind farm installed with 13 wind turbines with total installed capacity of 19.5MW, where the Group admit electricity generated to the local power grid and sell electricity generated to or through the Local Power Grid Company. Prospects: Maintain and enhance the Group’s market position in pitch control system market to increase market share in the PRC; Diversification of the Grou’s customer base, including the Group’s pitch control system related business, wind power generation business, and operation and maintenance services; and Further strengthen the Group’s R&D capabilities to enrich the Group’s solutions offering.

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