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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, specializes in the field of promoting the geothermal ground source energy as alternative energy for heating 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. Its Shallow Ground Source Energy segment engages in the licensing of patented products and proprietary technology; contract management of shallow ground source energy as heating (cooling) energy; construction and operation of dispersed ground source energy station for cooling and heating; sale and installation of HYY ground source energy heat pump environment system; and provision of ground source energy for integrated heating and cooling industrial park. The company’s Securities Investment and Trading segment trades in investment securities. Its Properties Investment and Development segment invests in properties. It also offers property management and technical support 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

Joint Chairman, Chief Executive Officer, Exec...
Total Annual Compensation: $3.6M
Chief Financial Officer, Executive Director a...
Total Annual Compensation: $1.2M
Vice Chairman, Compliance Officer and Member ...
Total Annual Compensation: $1.9M
Compensation as of Fiscal Year 2014.

china ground source energy (8128) Key Developments

China Ground Source Energy Industry Group Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

China Ground Source Energy Industry Group Limited announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenue of HKD 89.729 million against HKD 27.471 million a year ago. Profit from operations was HKD 25.185 million against HKD 26.911 million a year ago. Profit before tax was HKD 11.086 million against HKD 11.292 million a year ago. Profit for the period was HKD 0.891 million against HKD 4.354 million a year ago. Profit attributable to owners of the company was HKD 0.746 million or 0.026 cents per basic and diluted share against HKD 2.146 million or 0.074 cents per basic and diluted share a year ago. For the six months, the company reported total revenue of HKD 179.386 million against HKD 136.277 million a year ago. Profit from operations was HKD 47.209 million against HKD 55.792 million a year ago. Profit before tax was HKD 17.230 million against HKD 19.839 million a year ago. Profit for the period was HKD 3.108 million against HKD 8.903 million a year ago. Profit attributable to owners of the company was HKD 3.175 million or 0.109 cents per diluted share against HKD 2.803 million or 0.096 cents per diluted share a year ago. Net cash outflow from operating activities was HKD 68.237 million against HKD 15.392 million a year ago. During the six months ended 30 June 2015, the group incurred approximately HKD 2.645 million on acquisition of property, plant and equipment against HKD 1.476 million on acquisition of property, plant and equipment for the same period a year ago. The revenue increased by approximately HKD 35.739 million as compared with that of corresponding period last year. The increase in revenue was mainly attributable to the fact that, in previous year, the group provided to its existing customers with free upgrade and transformation of the geothermal energy collection equipment in order to meet the new standards of "the technical code for single well circulation heat exchange geothermal energy collection well" which received good response and increased customers' loyalty to the enterprise. Hence, the Group secured a number of projects.

China Ground Source Energy Industry Group Limited Provides Earnings Guidance for the Six Months Ended June 30, 2015

The board of directors of China Ground Source Energy Industry Group Limited informed that the shareholders of the company and potential investors that it is expected to record a substantial decrease in net profit of the unaudited interim results of the company and its subsidiaries for the six months ended 30 June 2015 as compared with the net profit for the corresponding period last year. Such decrease in net profit was mainly attributable (i) the decrease in gross profit margin resulted by the decrease in projects with higher profit margin; (ii) the decrease in other revenue during the review period as compared with that of corresponding period last year which has recorded a large amount of government subsidies; and (iii) increase in share-based payment mainly due to the expenses incurred by the share options granted in August 2014.

China Ground Source Energy Industry Group Limited to Report First Half, 2015 Results on Aug 13, 2015

China Ground Source Energy Industry Group Limited announced that they will report first half, 2015 results on Aug 13, 2015

 

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