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Public company info - China Titans Energy Technology Group Co. Ltd. , 02188.HK

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China Titans Energy Technology Group Co. Ltd., 02188.HK - Company Profile
Chairman Li Xin Qing
Share Issued (share) 925,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Electric Equipment
Corporate Profile Business Summary: The principal activities of the Group are (i) supply of power electric products and equipment; (ii) the sales and leases of electric vehicles; (iii) provision of charging services for electric vehicles; and (iv) construction services of charging poles for electric vehicles under Build-Operate-Transfer (“BOT”) arrangements. Performance for the year: For the year ended 31 December 2019 (the “Reporting Period”), the Group recorded revenue of approximately RMB301,214,000, representing an increase of approximately 11.48% over that of last year. In 2019, the Group recorded the loss attributable to owners of the Company and total comprehensive expense attributable to owners of the Company of approximately RMB47,603,000 and RMB41,580,000, respectively, representing an increase of approximately RMB7,435,000 and a decrease of approximately RMB680,000 over the loss of approximately RMB40,168,000 and RMB42,260,000 of the corresponding period last year. Business Review: Electrical DC products During the Reporting Period, the Group’s revenue of the electrical DC products was approximately RMB133,064,000, representing an increase of approximately 10.26% over 2018. The Directors consider that the main reason for the increase in revenue during the Reporting Period was that, the power products, based on their original customers, the Company has developed markets in the photovoltaic, wind power and pumped-storage fields and achieved good sales performance. At the same time, the increase is also benefitted from the optimization of the Group’s sales model and the continuous improvement of product performance. Charging equipment for electric vehicles During the Reporting Period, the Group’s revenue of the charging equipment for electric vehicles amounted to approximately RMB144,915,000, representing an increase of approximately 28.95% over 2018. The Directors consider that the sales results of charging equipment for electric vehicles exceeded our expectations during the Reporting Period. Benefitting from the further improvement of the Group’s sales policies and the active arrangement of sales staff, the original customer market has been expanded and achieved good results. Also, the more comprehensive customer service program and excellent product quality has provided strong support for the sales growth of such products. Construction under BOT arrangements During the Reporting Period, the Group has recorded revenue of approximately RMB1,292,000 from construction under BOT arrangements. The Group has adopted more prudent investment and operation strategies, resulting in a substantial decrease as compared to the revenue of approximately RMB16,874,000 from construction under BOT arrangements in the previous year. Charging services for electric vehicles During the Reporting Period, the Group recorded revenue from charging services fees for electric vehicles of approximately RMB18,200,000 (2018: approximately RMB17,793,000). The Directors are of the view that the charging services fees for electric vehicles had a growth of 2.29% during the Reporting Period, which met the expectation of the Group, while indicating that the Group’s operating charging facilities have entered stable profit cycles. Others During the Reporting Period, the Group’s revenue of other businesses amounted to approximately RMB3,743,000 (2018: approximately RMB2,470,000), being the income from the sales of power storage products and the leasing business in relation to electric vehicles, representing an increase of approximately 51.54%. Prospects: In 2020, the Group has promoted the annual operating strategy of “change actively, manage refinedly”. First of all, we need to change proactively. While facing profound changes in economic condition, market environment and competitive landscape, we shall embark on making changes to adapt to the new environments and conditions and secure new development opportunities. At the same time, we optimize our design, improve our quality, control our costs and enhance the enterprise’s core competitiveness through refined management. In 2019, the Group has implemented a series of measures and achieved considerable results. In addition, the Group optimized our production processes which is effective to increase the average productivity per person of the Group; we carried out intelligent upgrades to our operating platforms which enabled our products to better suit customers’ needs; we integrated or streamlined those adjustable business processes and organizational departments which could reduce our management fees while enhancing the Group’s operational efficiency. In 2020, the Group would continue to commence refined management and treat continuous improvements as a long-term work. In the beginning of 2020, China was greatly tested by the epidemic of Novel Coronavirus. The Group prioritizes the health of our staff on one hand, while endeavoring to resume work and production. In March 2020, the state has enlisted seven sectors, such as charging piles of new energy vehicles, 5G base station developments, artificial intelligence and industrial networks, in the new infrastructure construction that should speed up the development. The business of charging poles for electric vehicles and the “Titan OS Artificial Intelligence (AI) System Platform” invested and developed by the Group will benefit from this policy. In the new year, Titans will continue to show our features of “conscience, responsibility, aggressive, shared mission and harmony” and overcome obstacles and suffer. At the same time, with the enterprise’s philosophy of “making electricity more valuable” in mind, we will be cooperative and strive for excellence, so as to create a new situation in the Group’s development!

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