Far East Smarter Energy successfully Held the Communication Meeting of 2017 Annual Performance Report and 2018 Q1 Financial Report
On May 8, Far East Smarter Energy Co., Ltd., (hereinafter referred to as “Smarter Energy”, stock code: 600869) successfully held the investor communication meeting of 2017 annual performance report and 2018 Q1 financial report in Beijing. A total of 36 representatives from 30 securities companies including CICC, CITIC Securities, Sinolink Securities, Huaan Securities and secondary market investment institutions attended the meeting. Jiang Chengzhi, an investor, the director of Far East Holding Group Co., Ltd. and Chairman of Smarter Energy, Wang Zheng, an investor, the director and the Board Secretary of Smarter Energy, Li Taiyan, an investor and CFO of Smarter Energy, Lv Qiang, Vice Chairman and General Manager of Semeureka, and Huang Xiaodong, an investor and Vice Chairman and General Manager of Far East Integrated Technology Co., Ltd. also attended the meeting. The performance report meeting attracted many investment institutions and investors and won the attention and coverage from media.
Jiang Chengzhi drew a detailed development blueprint of Smarter Energy"s business sectors to the participating investors as follows: as for “smart airport”, giving full play to the Beijing Jinghangan Airport Engineering Co., Ltd. as a leader in the airport service field to expand the businesses involving power cables, energy storage and distributed energy in the airport through the internal exchange market resources platform; as for “new energy vehicles and intelligent vehicles", continuously building the battery industry with a total capacity of over 12GWh mainly including cylindrical batteries, soft-pack batteries and square aluminum-pack lithium batteries in Yichun City, Jiangxi Province and Yixing City, Jiangsu Province, and gradually expanding the market of electric two-wheeled and low-speed four-wheeled vehicles; as for "smart cables", strengthening the strategic expansion of market segments to mainly make key breakthroughs in areas including green buildings, smart cities, intelligent transportation, clean energy and high-end equipment manufacturing.
In view of China"s current economic situation and industry development trend, Jiang also analyzed that the economy keeps overall stable and boasts steady and sound development. The pursuit of clean and efficient energy will facilitate the continuous high-speed growth of industries such as clean energy, new energy vehicles and intelligent vehicles markets. At the same time, with the increasing emphasis on product quality, our country is gradually moving towards a country strong on quality, which will facilitate the concentration of high-quality enterprises to scramble for more market shares. Backed by years of industrial experience in smart energy, the “Far East” brand has been well-recognized by customers. The company boasts huge potential development prospect.
At the meeting, Wang Zheng introduced the company"s business performance, operating mode, overall strategic layout and development plan for 2017 and the Q1 of 2018 to participating investors. He mentioned that in Q1 of 2018, backed by cable industry leader and integrated power system solutions, the company achieved a significant improvement in its performance, creating the highest growth level in the same period. The revenue in the Q1 was RMB 3.416 billion with the year-on-year increase of 22.10%. The net profit was RMB 80.7665 million, up 420% year on year. The net profit attributable to the parent company was RMB 70.365 million, up 493% year on year. The net profit attributable to the parent company excluding the extraordinary item was RMB 56.973 million, up 707% year on year. As for this year"s operation objectives, he said that the company would continue the development strategy of “as the world-leading service provider in smart energy and smart cities”, actively develop the smart energy system and ecological service system focused on "Energy Internet Leader” with the aim of operating revenue reaching RMB 20 billion in 2018, overall gross margin rate up over 18% and the net profit achieving over RMB 600 million, and promote safe, efficient and sustainable development of the businesses.
During the investor Q&A session that followed, the participating investors asked the executives of all the companies present about the issues they were interested in including development prospects and layout of new energy vehicles, photovoltaic, big data and cloud computing, as well as the company"s investment and merger ideas, overseas expansion plans and lithium battery research and development details. The executives answered relevant questions in detail, and sincerely hoped to continuously consolidate long-term and stable relationship with investors, extensively listen to the voice of investors, and strive to realize the harmonious, win-win and sustainable development among enterprises, investors and the society.