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china ground source energy (8128) Snapshot

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china ground source energy (8128) Details

China Ground Source Energy Industry Group Limited, an investment holding company, operates in energy-conservation and environmental protection businesses primarily in the People’s Republic of China. The company operates through Shallow Ground Source Energy; Securities Investment and Trading; and Properties Investment and Development segments. It is principally engaged in development and utilization of shallow ground source energy as the alternative heating (cooling) energy for buildings to upgrade the traditional heating industry with combustion, emission, and pollution impacts using single-well circulation heat exchange technology. The company is also involved in the provision, installation, and maintenance of shallow geothermal energy utilization systems; property investment and development activities; and securities investment and trading activities. Further, it offers property management and technical support services, as well as technical know-how holding services. The company was formerly known as China Ground Source Energy Limited and changed its name to China Ground Source Energy Industry Group Limited in June 2013. China Ground Source Energy Industry Group Limited was incorporated in 1999 and is headquartered in Central, Hong Kong.

600 Employees
Last Reported Date: 03/31/15
Founded in 1999

china ground source energy (8128) Top Compensated Officers

Chief Executive Officer, Managing Director of...
Total Annual Compensation: $3.3M
Chairman, Chairman of Nomination Committee an...
Total Annual Compensation: --
Chief Financial Officer and Executive Directo...
Total Annual Compensation: $1.4M
Vice Chairman and Compliance Officer
Total Annual Compensation: $1.9M
Compensation as of Fiscal Year 2013.

china ground source energy (8128) Key Developments

China Ground Source Energy Industry Group Limited Announces Retirement of Mr. Zheng Qiyu as Executive Director

The board of directors of China Ground Source Energy Industry Group Limited announced that Mr. Zheng Qiyu has informed the Board of his decision not to stand for re-election as executive Director when he is due to retire by rotation at the annual general meeting of the company to be held on 12 May 2015 as he is reaching the retirement age under the national stipulations. Mr. Zheng will also retire as Chairman of the company and cease to be Chairman of the nomination committee and Vice Chairman of the remuneration committee of the company with effect from the conclusion of the AGM.

China Ground Source Energy Industry Group Limited Reports Audited Consolidated Cash Flow Results for the Year Ended December 31, 2014; Omits to Pay Dividend for the Year Ended December 31, 2014

China Ground Source Energy Industry Group Limited reported audited consolidated cash flow results for the year ended December 31, 2014. For the year, the company reported net cash used in operating activities of HKD 68,859,000 compared to HKD 76,504,000 a year ago. Purchase of property, plant and equipment was HKD 5,371,000 compared to HKD 9,914,000 a year ago. The Board does not recommend the payment of any dividend for the year ended December 31, 2014. The company paid 0.5 cents per share in the year 2013.

China Ground Source Energy Industry Group Limited Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2014

China Ground Source Energy Industry Group Limited reported audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of HKD 283,601,000 compared to HKD 363,662,000 a year ago. Profit from operations was HKD 40,896,000 compared to HKD 202,675,000 a year ago. Loss before tax was HKD 19,293,000 compared to profit before tax of HKD 155,249,000 a year ago. Loss attributable to owners of the company was HKD 53,506,000 or 1.84 cents per basic and diluted share compared to profit attributable to owners of the company of HKD 101,810,000 or 3.50 cents per diluted share a year ago.

 

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