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Public company info - China Clean Energy Technology Group Limited , 02379.HK
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China Clean Energy Technology Group Limited, 02379.HK - Company Profile
Chairman Chen Jun
Share Issued (share) 410,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Investment
Corporate Profile Business Summary: The principal business activities of the Group are property development, property leasing and investment, provision of renovation services and financial services in the People’s Republic of China (the “PRC”). Performance for the year: The Group’s total turnover for the Year was approximately RMB48,592,000, representing a decrease of approximately 28% from approximately RMB67,873,000 for the year in 2019. During the Year, the Group recorded a net loss of approximately RMB237,625,000 representing a turnaround from the net profit of approximately RMB64,245,000 for the year in 2019. Business Review During the Year, the Group’s principal source of income was derived from the property segment, which accounted for approximately 85.0% of the total turnover of the Group. The financial service segments contributed the remaining 15.0%. During the Year, all of the Group’s income were derived from the Shandong Province, the PRC, which had accounted for 100% of the Group’s total turnover. Prospects: Commercial properties of the Group have commenced to generate stable and growing rental revenue and have become a major source of income for the Group. In recent years, China has been vigorously supporting the development of the energy industry, and China has become the world's largest producer of clean energy. The Chinese government highly values the development of clean energy with the amount invested ranking first in the world for many years and the installed capacity of hydropower, wind power and photovoltaic power generation steadily ranking first in the world, making remarkable achievements. The "14th FiveYear Plan" clearly states that achieving clean and low-carbon development is both an urgent need for current development and an inevitable requirement for the future. China's clean energy industry is expected to usher in a golden period in the future. Under this situation, the Group has accelerated its deployment in the clean energy industry in the new financing service segment, and has been well positioned to leverage its own advantages and respond to development needs to capture market share. After the outbreak of the novel coronavirus (“COVID-19”), the China has adopted a series of prevention and control measures, including the regional traffic control and delayed resumption of factory production, etc. This has undoubtedly led to temporary negative impact to the economic activities. Given the resilience and potentials of China's economy in the long run, it is believed that long-term stable growth would remain unchanged. The management of the Board of Directors believes that the Huihai Road project has reached a very mature state with a promising prospect, which will greatly improve the current cash flow of the Company. The Huihai Road project is located in the planned business district around the Hongdao station of the high-speed rail and is close to Metro Line 8, with convenient transportation, abundant supporting facilities and 2.5 km away from the Rehabilitation University under construction, which attracts a large number of talents. Due to the convenient transportation, it attracts a large number of enterprises to settle here, and the project will certainly become a popular project in the Hongdao area. In light of the bright future of the housing price in Qingdao, the Board of Directors believes that the investment in this land plot will bring considerable benefits to the future development of the Company.

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