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EQS-News News vom 27.03.2015

Jun Yang Solar Announced 2014 Annual Results Recorded Profit Attributable to Owners of HKD255 Million Basic Earnings per share 9.08 HK Cents


(EQS-News / 27/03/2015 / 11:13 UTC+8)

IMMEDIATE RELEASE

Jun Yang Solar Announced 2014 Annual Results

Recorded Profit Attributable to Owners of HKD255 Million

Basic Earnings per share 9.08 HK Cents

(Hong Kong, 26 March 2015) - Jun Yang Solar Power Investments Limited ("Jun Yang Solar" or the "Company", together with its subsidiaries as the "Group", SEHK: 397) announced today its annual results for the year ended 31 December 2014 (the "review period").

- During the review period, the Group recorded revenue of approximately HK$63,016,000 (2013: approximately HK$63,003,000), profit attributable to owners of the Company amounted to approximately HK$255,398,000 (2013: loss of approximately HK$18,049,000). The profit was mainly attributable to the gain arising on change in fair value of held-for-trading investments. Basic earnings per share was HK$9.08 cents.

- The Group maintains a stable growth of cash flows, and its financial position has been further strengthened. The Group held pledged bank deposits and cash and cash equivalents of approximately HK$314,940,000 (2013: approximately HK$212,547,000). The Group held loan receivables of approximately HK$316,737,000 (2013: approximately HK$226,342,000) and held-for-trading investments of approximately HK$863,883,000 (2013: approximately HK$366,313,000) respectively. Net current assets amounted to approximately HK$1,328,183,000 (2013: approximately HK$564,813,000). Net assets amounted to approximately HK$1,768,727,000 (2013: approximately HK$1,055,228,000).

- During the review period, the operations of the Group's solar projects had been progressed steadily. The total power generation of the 10-megawatt large-scale solar PV ground-mounted power station project in Golmud, Qinghai Province was approximately 13,230,000 kWh. The 20-megawatt rooftop power station in Xuchang, and the 1.5-megawatt rooftop power station in Zhengzhou, Henan Province generated power of approximately 12,903,000 kWh and 360,000kWh respectively.

- A new 10-megawatt rooftop power station in Rongcheng, Shandong Province has finished its construction work and the installation of modules was completed in January 2015. This new project has been connected to the Grid in February 2015 and commenced power generation on 19 March 2015.

- The Group's money lending business achieved outstanding performance, as noted from the aggregated sum of approximately HK$407,154,000 for the year ended 31 December 2014. (2013: HK$336,250,000), which laid a solid capital foundation for the core solar business.

Mr. Bai Liang, Chairman of Jun Yang Solar, stated: "We believe that the environmental protection including solar power generation and renewable energy is a good niche market for the Group's business. Leveraging our experiences in the development and management in this field, the Group will actively involve in the development, investment, maintenance and operation, project financing in environmental protection that include solar power and other renewable energy business in China, and will also seek opportunities to expand the solar energy business in the overseas market to create long-term returns to our shareholders."

-End-

About Jun Yang Solar Power Investments Limited (SEHK: 397)
Jun Yang Solar Power Investments Limited is mainly involved in the business of solar PV power generating projects, aiming to become a leading solar independent power producer (IPP) in the PRC and in the world.

For media enquiries, please contact PR ASIA Consultants Limited:
Dorothy Ying / William Ng
Tel: (852) 3183 0241 / 0258
Email: junyangsolar@prasia.net



End of Press Release

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Document title: Jun Yang Solar Announced 2014 Annual Results Recorded Profit Attributable to Owners of HKD255 Million Basic Earnings per share 9.08 HK Cents


Key word(s): Quarter Results

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