April 30, 2017 11:55 PM ET

Electrical Equipment

Company Overview of China Keli Electric Company Ltd

Company Overview

China Keli Electric Company Ltd., through its subsidiaries, manufactures and installs electrical components and equipment in the People’s Republic of China. Its products include pre-assembled mini substations, electrical controllers, pressurized and vacuumed switchgears, and circuit breakers. The company was founded in 1995 and is based in Vancouver, Canada.

555 Burrard Street

Suite 900

Vancouver, BC V7X 1MB

Canada

Founded in 1995

Key Executives for China Keli Electric Company Ltd

Chief Executive Officer and Director
Age: 35
Total Annual Compensation: C$187.3K
Chief Financial Officer
Total Annual Compensation: C$31.0K
Compensation as of Fiscal Year 2016.

China Keli Electric Company Ltd Key Developments

China Keli Electric Company Ltd Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2017

China Keli Electric Company Ltd. reported earnings results for the third quarter and nine months ended January 31, 2017. For the quarter, total revenue was $2,407,679, a decrease of 45.2% over the three months ended January 31, 2016 of $4,394,110, caused by the decrease both in sales of products and installation services revenue. As a result, the Company recorded a net loss of $824,447 compared with a net loss of $1,280,287 in 2016. Basic and diluted loss per share were $0.009 compared with $0.014 in 2016. LBITDA was $316,390, a little bit lesser than $363,453 in 2016. After accounting for an unrealized foreign exchange translation gain of $197,893, the Company reported total comprehensive loss of $849,699 compared with total comprehensive loss of $1,082,394 in 2016. For the nine months, total revenue was $9,179,942, a decrease of 34.4% over $13,995,250 for the equivalent nine months period in 2016. The Company recorded a net loss of $2,229,546 compared to a loss of $1,525,622 in same period in 2016. Comprehensive net loss increased 175.3% to a loss of $2,217,249 over the same period from a loss of $805,354 in 2016.

China Keli Electric Company Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended October 31, 2016

China Keli Electric Company Ltd. reported earnings results for the second quarter and six months ended October 31, 2016. For the second quarter, total revenue was $3,165,996, a decrease of 49.3% over second quarter of 2016 of $6,242,922, caused mainly by the decrease in revenue from products sales. Although the total expenses decreased, the company recorded a net loss of $708,685 in second quarter of 2017, compared with a net loss of $21,338 in second quarter of 2016 because of the significant decrease of revenue and gross profit. Basic and diluted loss per share was $0.008 compared with $0.000 in second quarter of 2016. EBITDA was negative $186,310 in second quarter of 2017, a decrease from positive EBITDA $629,407 in second quarter of 2016. The company's unrealized foreign exchange income on translation of the company's functional currency to its reporting currency is subject to fluctuations in the exchange rate between the RMB and the Canadian dollar in each reporting period. For the six months, total revenue was $6,772,263, a decrease of 29.6% over $9,616,362 for the equivalent six months period in fiscal year of 2016. The company recorded a net loss of $1,405,099 in the first six months of fiscal year of 2017, compared to a loss of $279,888 in same period in fiscal year of 2016.

China Keli Electric Company Ltd, Annual General Meeting, Dec 28, 2016

China Keli Electric Company Ltd, Annual General Meeting, Dec 28, 2016, at 16:30 Pacific Standard Time. Location: 700 ­ 838 West Hastings Street, Vancouver British Columbia Canada Agenda: To receive the audited financial statements of the Company for the financial year ended April 30, 2016, together with the auditor's report on those financial statements; to set the number of directors of the Company at five (5); to elect Sou Wa Wong, Lou Meng Cheong, Yan Zhang, Jian Wen Wu and George Dorin a directors of the Company to serve until the close of the next annual general meeting o shareholders of the Company or until their successors are elected or appointed; to appoint MNP LLP as the auditor of the Company to serve until the next annual general meeting of the Company, or until a successor is appointed, and to authorize the directors of the Company to fix their remuneration; to consider, and, if deemed appropriate, to pass, an ordinary resolution re-approving the Company's Stock Option Plan, as described in the accompanying Information Circular; and to transact such other business as may properly come before the Meeting or any adjournment or postponement thereof.

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