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Last $0.89 HKD
Change Today 0.00 / 0.00%
Volume 160.1M
1101 On Other Exchanges
Hong Kong
As of 4:01 AM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

china huarong energy co ltd (1101) Snapshot

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52 Week High
06/16/14 - $1.86
52 Week Low
04/1/15 - $0.63
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china huarong energy co ltd (1101) Details

China Huarong Energy Company Limited, an investment holding company, engages in the shipbuilding, offshore engineering, engineering machinery, marine engine building, and energy exploration and production businesses for oil and gas related customers and markets primarily in the People’s Republic of China. Its Shipbuilding segment constructs vessels, including ore carriers, Panamax bulk carriers, containerships, and crude oil tankers. The company’s Offshore Engineering segment constructs vessels for marine projects. Its Engineering Machinery segment manufactures excavators and crawler cranes. The company’s Marine Engine Building segment builds marine engines. Its Energy Exploration and Production segment holds 60% interest in the Kyrgyzstan project that includes five oilfields covering 545 square kilometers, located in the Fergana Valley of the Republic of Kyrgyzstan. The company manufactures mechanical and electrical equipment, and accessories for shipping production; stores shipping material; carries cargo; manufactures and installs pipeline and shipping equipment; provides shipping services and consultancy services for shipbuilding; trades vessel accessories; sells building materials; and builds shipowners club. In addition, the company engages in the steel construction engineering; manufacture, processing, and sale of steel and accessories, and metal proceeding products; wholesale and retail of electronic machinery products; coating and corrosing resistance tank coating projects; and manufacture, wholesale, and retail of engineering machineries, as well as design, manufacture, and sale of marine high-power diesel engine parts and semi-finished parts. The company was formerly known as China Rongsheng Heavy Industries Group Holdings Limited and changed its name to China Huarong Energy Company Limited in April 2015. China Huarong Energy Company Limited was incorporated in 2010 and is headquartered in Central, Hong Kong.

3,100 Employees
Last Reported Date: 04/28/15
Founded in 2010

china huarong energy co ltd (1101) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: CNY10.9M
Chief Financial Officer, Executive Director, ...
Total Annual Compensation: CNY7.1M
Vice Chairman, Member of Remuneration Committ...
Total Annual Compensation: CNY3.3M
Executive Director
Total Annual Compensation: CNY3.3M
Executive Director and Member of Nomination C...
Total Annual Compensation: CNY3.3M
Compensation as of Fiscal Year 2013.

china huarong energy co ltd (1101) Key Developments

China Huarong Energy Company Limited's Kyrgyzstan Project Production Boosted After Oil Well Perforation

China Huarong Energy Company Limited announced that with the arrival of working teams and perforating charges and other materials to the oilfields site, the production of the Kyrgyzstan Project has been boosted and further optimized. One of the oil wells, namely Izbaskent 225, underlined the progressive results in enhancing production after recent perforation work and records of high volume of production. On 9 May 2015, Izbaskent 225 of the Kyrgyzstan Project has been conducted perforation in IX-layer and recorded a satisfactory increase in production volume of oil. With a perforation interval from 2,287.9 meters to 2,293.9 meters, the working teams recorded a significant increase of the daily production of oil which amounted to approximately 388 barrels after conducting the perforation, without using blowout preventers. After using an 8mm oil choke, the daily production of oil could still reach approximately 278 barrels. Completed drilling in 2014, Izbaskent 225 has been conducted perforation in V-layer on 9 October 2014 and commenced production on 16 October in the same year, with a daily production of oil of approximately 36 barrels at its initial stage. The daily production of oil of the Kyrgyzstan Project has exceeded 500 barrels on 9 May 2015, even at the moment the oilfields was partially in operation after its initial development stage. After the arrival of working teams and perforating charges and other materials to the construction site, the Company planned to further complete the production work of 20 newly-drilled wells and fracturing operation of 10 old wells in the near term.

Yangzijiang Shipbuilding In Talks To Invest In China Huarong Energy

Yangzijiang Shipbuilding (Holdings) Ltd. (SGX:BS6) is considering a possible investment in China Huarong Energy Company Limited (SEHK:1101). Ren Yuanlin (Rongsheng), Executive Chairman said, "The company was still in early talks with stakeholders, and expected to make a decision on the investment by end-June." "The government, banks, and Rongsheng's major shareholder all hope we can be part of the deal, but whether or not we will get in depends on the asset price," Ren Yuanlin told reporters at a post-earnings briefing in Singapore, where the company is listed.

China Rongsheng Heavy Industries Group Holdings Limited Reports Consolidated Earnings Results for the Year Ended December 31, 2014

China Rongsheng Heavy Industries Group Holdings Limited reported consolidated earnings results for the year ended December 31, 2014. For the period, the company recorded negative revenue of RMB 3,802.4 million as compared to RMB 1,343.6 million for the comparative period. It was primarily attributable to the reversal of revenue from cancellation of the construction contracts in alignment with the Group's strategic plan to optimize the production and operation of its shipbuilding business. Capital expenditure was approximately RMB 68.9 million compared to RMB 694.0 million a year ago, which was mainly used in the acquisition of facilities and equipment for its constructed plants. Operating loss was RMB 6,057,678,000 against RMB 8,230,542,000 a year ago. Loss before income tax was RMB 8,089,228,000 against RMB 9,058,577,000 a year ago. Loss attributable to equity holders of the company was RMB 7,754,928,000 or RMB 1.01 per basic and diluted share against RMB 8,685,175,000 or RMB 1.24 per basic and diluted share a year ago. Net operating cash outflow of approximately RMB 2,811,141,000 during the year ended 31 December 2014.


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