PDF《新天绿色能源股份有限公司》

1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA SUNTIEN GREEN ENERGY CORPORATION LIMITED* 新天绿色能源股份有限公司(a joint stock limited company incorporated in the People'

s Republic of China with limited liability) (Stock Code: 00956) ANNOUNCEMENT OF RESULT FOR THE YEAR END

31 DECEMBER

2011 FINANCIAL HIGHLIGHTS For the year ended

31 December 2011, revenue was RMB3,169.8 million, representing an increase of 41.3% compared with 2010. For the year ended

31 December 2011, profit before tax was RMB700.8 million, representing an increase of 43.1% compared with 2010. For the year ended

31 December 2011, net profit attributable to shareholders of the Company was RMB448.9 million, representing an increase of 60.5% compared with 2010. For the year ended

31 December 2011, earnings per share was RMB0.1386, representing an increase of 12.0% compared with 2010. The Board recommends a dividend distribution of RMB0.058 per share (tax inclusive) for 2011. The Board of China Suntien Green Energy Corporation Limited (the Company ) is pleased to announce the audited annual results of the Company and its subsidiaries for the year ended

31 December 2011. This announcement is compliant with the relevant requirements of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the Listing Rules ) regarding the information required to be included in the preliminary announcement of annual results.

2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended

31 December

2011 2011

2010 Notes RMB'

000 RMB'

000 REVENUE

4 3,169,831 2,242,757 Cost of sales (2,256,982) (1,580,715) Gross profit 912,849 662,042 Other income and gains, net

4 135,009 84,048 Selling and distribution costs (664) (358) Administrative expenses (151,956) (100,572) Other expenses (22,068) (37,591) PROFIT FROM OPERATIONS 873,170 607,569 Finance costs

6 (244,924) (168,066) Share of profits of associates 72,539 50,369 PROFIT BEFORE TAX

5 700,785 489,872 Income tax expense

7 (81,797) (58,181) PROFIT FOR THE YEAR 618,988 431,691 Other comprehensive income C C TOTAL COMPREHENSIVE INCOME FOR THE YEAR 618,988 431,691 Total comprehensive income for the year attributable to: Owners of the parent 448,908 279,719 Non-controlling interests 170,080 151,972 618,988 431,691 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY Basic (RMB)

9 13.86 cents 12.38 cents Diluted (RMB)

9 13.86 cents 12.38 cents Details of the dividends payable and proposed for the year are disclosed in note

8 of the financial statements.

3 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at

31 December

2011 31 December

31 December

2011 2010 Notes RMB'

000 RMB'

000 NON-CURRENT ASSETS Property, plant and equipment 7,713,222 6,079,374 Prepaid land lease payments 113,115 71,106 Goodwill 9,215 C Intangible assets 2,449,122 1,423,436 Investments in associates 383,172 337,941 Investment in a jointly-controlled entity C 10,200 Held-to-maturity investments 5,000 5,000 Available-for-sale investments 3,400 3,400 Deferred tax assets

93 227 Prepayments and other receivables 1,420,307 870,226 Total non-current assets 12,096,646 8,800,910 CURRENT ASSETS Prepaid land lease payments 3,437 1,973 Inventories 24,685 25,264 Trade and bills receivables

10 396,445 189,430 Prepayments, deposits and other receivables 290,167 219,545 Available-for-sale investments 328,190 C Pledged deposits

64 63 Cash and cash equivalents 919,502 2,474,907 Total current assets 1,962,490 2,911,182 CURRENT LIABILITIES Trade and bills payables

11 125,325 326,108 Other payables and accruals 1,048,133 901,420 Interest-bearing bank and other borrowings 636,075 1,442,655 Tax payable 14,159 25,863 Total current liabilities 1,823,692 2,696,046 NET CURRENT ASSETS 138,798 215,136 TOTAL ASSETS LESS CURRENT LIABILITIES 12,235,444 9,016,046

4 CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) As at

31 December

2011 31 December

31 December

2011 2010 Note RMB'

000 RMB'

000 NON-CURRENT LIABILITIES Interest-bearing bank and other borrowings 6,114,499 3,576,256 Other payables and accruals 25,970 1,201 Total non-current liabilities 6,140,469 3,577,457 Net assets 6,094,975 5,438,589 EQUITY Equity attributable to owners of the parent Issued share capital 3,238,435 3,238,435 Reserves 1,779,521 1,514,127 Proposed final dividend

8 187,829 58,170 5,205,785 4,810,732 Non-controlling interests 889,190 627,857 Total equity 6,094,975 5,438,589

5 NOTES: 1. CORPORATE INFORMATION The Company was established as a joint stock company with limited liability on

9 February

2010 in the PRC as part of the reorganisation of Hebei Construction &

Investment Group Co., Ltd. ( 河北建设投资集团有限责任公司, HECIC , a state-owned enterprise in the People'

s Republic of China (the PRC , or Mainland China, which excludes, for the purpose of these financial statements, the Hong Kong Special Administrative Region of the PRC or Hong Kong, the Macau Special Administrative Region of the PRC or Macau, and Taiwan)) (the Reorganisation ) in preparation for the Listing. HECIC was the holding company of the subsidiaries now comprising the group prior to the Reorganisation. In consideration for HECIC and HECIC Water Investment Co., Ltd. (河北建投水务投资有限公司 , HECIC Water , a wholly owned subsidiary of HECIC incorporated in the PRC) transferring the Clean Energy Business Operations (see definition below) and cash in an aggregate amount of RMB2,033.9 million, respectively, to the Company upon its incorporation on

9 February 2010, the Company issued 1,600 million ordinary shares to HECIC and

400 million ordinary shares to HECIC Water, respectively. The ordinary shares issued to HECIC and HECIC Water have a par value of RMB1.00 each and represented the entire registered and issued share capital of the Company upon its incorporation. Prior to the incorporation of the Company, the Clean Energy Business Operations were carried out by two companies owned or controlled by HECIC. Pursuant to the Reorganisation, the Clean Energy Business Operations were transferred to the Company upon its incorporation. Clean Energy Business Operations In connection with the Reorganisation, the Clean Energy Business Operations being transferred to the Company include: (a) the operation relating to the sale of natural gas and gas appliances and the connection and construction of natural gas pipelines together with the related assets and liabilities;

and (b) the operation of wind power generation together with the related assets and liabilities, except for a 25% non- controlling shareholding interest indirectly held by HECIC in HECIC Yanshan (Guyuan) Wind Power Co., Ltd. ( Yanshan (Guyuan) ), a 75%-owned subsidiary of the Group. The Company'

s H shares were issued and listed on the main board of The Stock Exchange of Hong Kong Ltd. ( The Hong Kong Stock Exchange ) in the last quarter of 2010. During the year ended

31 December 2011, the Group acquired the remaining 25% shareholding interest of Yanshan (Guyuan). Upon the completion of the acquisition, Yanshan (Guyuan) became a wholly-owned subsidiary of the Company. The registered office of the Company is located at 9th Floor, Block A, Yuyuan Plaza, No.

9 Yuhua West Road, Shijiazhuang, Hebei Province, the PRC. The Company and its subsidiaries (hereinafter collectively referred to as the Group ) are principally engaged in the investment, development, management and operation of wind power generation, sale of natural gas and gas appliances, and connection and construction of natural gas pipelines. In the opinion of the directors of the Company (the Directors ), HECIC is the ultimate holding company of the Company.

6 2.1 BASIS OF PRESENTATION (a) As discussed in note

1 above, prior to the incorporation of the Company, the Clean Energy Business Operations were controlled and owned by HECIC. Upon the incorporation of the Company on

9 February 2010, the Clean Energy Business Operations were transferred to the Company. As there was no change in the ultimate controlling shareholder of the Clean Energy Business Operations before and after the Reorganisation, the Reorganisation has been accounted for as a combination of business under common control in a manner similar to a pooling-of- interests method. As a result, the consolidated statement of financial position has been prepared to present the Group'

s assets and liabilities as if the Reorganisation had been completed as at the beginning date of the earliest period presented. The accompanying consolidate........