Auhua Clean Energy Plc Trading Update (6847A)
December 24 2014 - 2:17AM
UK Regulatory
TIDMACE
RNS Number : 6847A
Auhua Clean Energy Plc
24 December 2014
AUHUA CLEAN ENERGY PLC
("Auhua" or the "Company")
Trading Update
24 December 2014:Auhua Clean Energy Plc (AIM: ACE) (the
"Company"), the environmental technology group, is pleased to
announce that it expects to meet market expectations for
FYE2014.
Weihai Auhua New Energy Co Ltd, one of the Company's
subsidiaries, was awarded the status of "Shandong Provincial
Enterprise Technical Center" on 14 November 2014. Conferred by the
Shandong Economic and Information Technology Committee, the award
is only made to companies with certain competitive advantages in
terms of technology and operating results over its competitors in
the same industry and with strong research and development
capability.
Chen Anxiang, Chief Executive Officer of Auhua, commented,"This
award affirms Auhua as a leader in technology in Shandong in the
area of solar thermal technologies, as only one company is awarded
in a category for the whole province, and a good endorsement as we
expand into neighbouring provinces and other countries."
The Company continues to make significant progress in research
and development, including the joint research project between
Taiwan Ziolar Technology Co. Ltd ("Ziolar") and Purdue University
on Building Integrated Solar Thermal systems (BIST). Ziolar has
since July 2014 filed 4 Chinese patents and 2 U.S. patents and
intends to set up a pilot solar thermal coating production line in
1H 2015.
Meanwhile, the Company's sales have continued to grow at a
moderate pace; the Company has implemented a more selective process
in choosing its customers by shifting its focus on the mid-large
pan provincial property developers and with current production
reaching full capacity. On 29 November 2014, the company signed an
agreement with a subsidiary of Green Land Group to supply 1,570
units of solar water heaters. This is the first time that Auhua has
worked with Green Land Group. Green Land Group was ranked No. 268
among the Fortune Global 500 companies in 2014. In 2013, properties
sold by the Group amounted to 16,600,000 sqm, or RMB162.5 billion
which was ranked No. 1 in the industry for the number of units
sold.
David Sumner, Chairman of Auhua, added: "This is a significant
breakthrough for the Company to be working with one of China's
largest property development companies. Green Land contracted sales
grew by over 80% in January to November 2014 despite the property
curbs in China. We are hoping that this will be the first of many
such partnerships with them."
The Company expects to release its annual results in April
2015.
--ends---
Media Enquiries
Brunswick Carolina Desmeules auhua@brunswickgroup.com
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Further information
Auhua Clean Energy David Sumner, non-executive davidjsumner@auhuacleanenergy.com
plc Chairman
------------------------- ---------------------------- ----------------------------------
Grant Thornton UK Philip Secrett / Maureen +44 (0)20 7383 5100
LLP (Nominated Adviser) Tai / jamie.r.barklem@uk.gt.com
Jamie Barklem
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WH Ireland Tim Feathers
(Nominated Broker)
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About Auhua:
Auhua Clean Energy (www.auhuacleanenergy.com) is an
environmental technology group based in the Shandong Province of
Eastern China specialising in the development and application of
green energy and energy efficient solar thermal solutions. In
particular, the Group is focused on the manufacture and sale of
split-unit solar water heating systems.
Auhua Clean Energy operates through its wholly owned
subsidiaries Shandong Auhua New Energy Co., Ltd, Weihua Auhua New
Energy Co., Ltd., and Taiwan Ziolar Technology Co. Ltd, of which
Auhua Holdings Pte Ltd is the intermediate holding company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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