PDF《科诺威德国际有限公司》

Technovator International Limited (incorporated in Singapore with limited liability) Stock Code:

1206 科诺威德国际有限公司 (於新加坡注册成立之有限公司) 股份代号:1206 INTERIM REPORT

2012 2012 中期报告 ENERGY SAVING Products &

Solutions Provider 节约能源 产品及方案供应商 Corporate Information

2 Management Discussion and Analysis

4 Corporate Governance and Other Information

13 Independent Review Report

20 Consolidated Income Statement

21 Consolidated Statement of Comprehensive Income

22 Consolidated Balance Sheet

23 Consolidated Statement of Changes in Equity

25 Condensed Consolidated Cash Flow Statement

26 Notes to the Unaudited Interim Financial Report

27 Contents Technovator International Limited Corporate Information

02 REGISTERED OFFICE

66 Tannery Lane #04-10/10A Sindo Industrial Building Singapore

347805 HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN SINGAPORE

66 Tannery Lane #04-10/10A Sindo Industrial Building Singapore

347805 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 43rd Floor, Gloucester Tower The Landmark,

15 Queen'

s Road Central Hong Kong LEGAL ADVISER AS TO HONG KONG LAWS Orrick, Herrington &

Sutcliffe AUDITORS KPMG SINGAPORE PRINCIPAL SHARE REGISTRAR Tricor Evatthouse Corporate Services

80 Robinson Road #02-00 Singapore

068898 BOARD OF DIRECTORS Executive Directors Mr.

Zhao Xiaobo (赵晓波) Mr. Seah Han Leong (谢汉良) Non-executive Directors Mr. Lu Zhicheng (陆致成) (Chairman) Mr. Chow Dah-Jen (周大任) (appointed with effect from

28 August 2012) Dr. Li Jisheng (李吉生) Mr. Liu Tianmin (刘天民) Mr. Ng Koon Siong (黄坤商) Ms. Shi Shanshan (施珊珊) (resigned with effect from

28 August 2012) Independent Non-executive Directors Mr. Fan Ren Da Anthony (范仁达) Mr. Chia Yew Boon (谢有文) Ms. Chen Hua (陈华) BOARD COMMITTEES Audit Committee Ms. Chen Hua (Chairman) Mr. Chia Yew Boon Mr. Fan Ren Da Anthony Nomination Committee Mr. Chia Yew Boon (Chairman) Mr. Fan Ren Da Anthony Mr. Lu Zhicheng Remuneration Committee Mr. Fan Ren Da Anthony (Chairman) Mr. Chia Yew Boon Mr. Ng Koon Siong JOINT COMPANY SECRETARIES Mr. Leung Lok Wai Ms. Tan Siew Hua AUTHORISED REPRESENTATIVES Mr. Zhao Xiaobo Mr. Seah Han Leong Interim Report

2012 03 Corporate Information (Continued) HONG KONG SHARE REGISTRAR Tricor Investor Services Limited 26/F, Tesbury Centre

28 Queen'

s Road East Wanchai, Hong Kong COMPANY WEBSITE www.technovator.com.sg PRINCIPAL BANKERS Standard Chartered Bank (Singapore) Bank of China (Beijing Zhongguancun Science and Technology Park sub-branch) Bank of Beijing (Tsinghua Park sub-branch) China CITIC Bank (Beijing Tsinghua Park sub-branch) China Construction Bank (Huairou sub-branch) Agriculture Bank of China (reception branch office, Huairou sub-branch) China CITIC Bank (Shanghai Gubei sub-branch) The Hongkong and Shanghai Banking Corporation Limited (Canada) The Hongkong and Shanghai Banking Corporation Limited (France) Rabobank PEEL NOORD (Netherlands) INVESTOR RELATIONS CONSULTANTS Strategic Financial Relations (China) Limited COMPLIANCE ADVISOR Guotai Junan Capital Limited 27th Floor, Low Block Grand Millennium Plaza

181 Queen'

s Road Central Hong Kong Technovator International Limited Management Discussion and Analysis

04 OVERVIEW The business environment during the six months ended

30 June

2012 (the period ) was not easy due to certain adverse macro economic factors which impacted the global economy. During the period, the China'

s economic growth momentum has gradually slowed down, the United States economic recovery has remained fragile and the European sovereign debt crisis has worsen. In spite of these adverse factors, Technovator International Limited ( Technovator or the Company ) still achieved stable growth during the period by strengthening sales and distribution network, intensifying marketing and business development efforts and continuing its brand enhancement initiatives. As a result, the revenue and net profit of the Company and its subsidiaries (the Group ) attributable to equity shareholders increased by approximately 23.0% and 31.7% respectively for the six months ended

30 June

2012 compared with six months ended

30 June 2011. On-going development of sales and distribution network has always been one of the key growth components for Technovator. During the period, we focused on strengthening the development and management of sales and distribution network for both the People'

s Republic of China (the PRC ) and overseas markets. With continuous investment with regards to marketing and business development, our competitiveness in these markets has strengthened among our peers. Over the years, we have globalized our research and development capabilities and have collaborated with universities and research institutions so that our research and development team could closely monitor the development of the global technology trend. In conjunction with the continuous efforts in our brand establishment and promotion initiatives, we have enhanced our brand and product recognition which laid a solid foundation for long-term sustainable growth. With our efforts above together with our effective tailor-made building energy management products and solutions services, we have gained trust from various municipal governments, sizable enterprises and maintained our close relationships with them as well as created more business opportunities and enlarged our customer base. For the PRC market, the business environment is full of challenges and provides opportunities at the same time. In view of the slow down of its economic growth, the ongoing re-adjustment of its macro economy and the keen competition in its industries, the business environment is challenging. However, the building energy saving management is still a topic of interest as awareness of energy efficiency in the application of building energy saving solutions is increasing and the respective market in PRC is rapidly growing as a result of numerous governments'

energy policies and speedy urbanization of second and third tier cities. Nevertheless, we have proven that we are capable of grasping opportunities in this challenging market by investing in product and technology, tailoring our solutions and services to help customers to understand and take control of their energy usage and riding on our continuous efforts in sales and distribution channel expansion, research and development as well as brand recognition and promotion initiatives. In our major overseas markets, namely the North American market and the European market, retrofitting old buildings is a key to have more efficient energy consumption in developed countries. We have demonstrated the importance of providing a high quality and responsive service for our customers, although customers'

budgets are tighter, while at the same time operating as efficiently as possible. In addition, we have ........