China WindPower Group Ltd. (182) expects a “significant increase” in 2013 profit after boosting output from wind farms and solar farms.
The Board wishes to inform the Shareholders and potential investors that based on the information currently available to the Board, the Group expects to record a significant increase in net profit for the year ended 31
December 2013 as compared with last year.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.
This announcement is made by China WindPower Group Limited (the “Company”, together with its subsidiaries, the “Group”) pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571).
The board of directors of the Company (the “Board”) wishes to inform the shareholders (the “Shareholders”) and potential investors of the Company that based on the information currently available to the Board, the Group expects to record a significant increase in net profit for the year ended 31 December 2013 as compared with last year.
The significant increase in net profit is mainly due to the increase in the income from the electricity output in our wind and solar power plants and EPC business division.
At 31 December 2013, the Company had more than HKD 1.7 billion of cash and cash equivalents (not including the estimated HKD 378.2 million net proceeds from the “Huadian Subscription”, the detail of the Huadian Subscription was announced on 18th December 2013).
This positive profit alert announcement is only a preliminary assessment by the Board based on the information currently available, which have not been reviewed nor audited by the Company’s auditors. The Company is in the process of finalizing the Group’s audited consolidated results for the year ended 31 December 2013.