One Year Since CGN Meiya listed
( 2015-10-15 )
October 3, 2015, CGN Meiya announced its IPO and came upon the stage of Hong Kong capital market - became the sole global platform of CGN Group to develop and operate non-nuclear clean and renewable energy power project.
After a whole year of development, with the brand advantage and wise leadership of CGN and perseverance of all employees, CGN Meiya has accomplished remarkable achievement. We will go through the whole since CGN Meiya listed.
Results: stable increase in market value
According to CGN Meiya 2015 interim results, its capital management and financial performance are in leading positions of the industry.
1.1 Financial Performance: Year-on-year growth at 5.5%
As of Jun 30, 2015, revenue of CGN Meiya is USD 593.6 million, 5.5% higher compared with USD 562.6 million same periods last year. PBT is USD 83.4 million 40.2% higher compared with USD 59.5 million same period last year.
1.2 Power sale: 25.6% of growth compared with same period last year
As of Jun 30, 2015, CGN Meiya owns 14 operating power projects. Since Korea Yulchon II started CCGT from March 2014, in 1st-half of 2015, CGN Meiya’s net generation reaches 4,748.1GWh, 25.6% higher than same period last year.
Expand: first asset injection and breakthrough in Korea Daesan II Project
（Geographical distribution of first asset injection）
Sep 1, 2015, CGN Meiya make the equity payment to Wind Company and Solar Company for the 1st batch of asset injection, which symbolized that 19 wind and solar projects with 1.4 million KW capacity consolidating by CGN Meiya from Sep 1. It is assessed that the asset injection succeeded in maintenance and appreciation of CGN’s state-owned assets’ value and highly recognized by capital market.
（Signing MOU for Korea Daesan II CCGT Project)
In the afternoon of Aug 13, 2015, Governor of Chungnam Province, Korea, Mr. Hee Jung An, Mayor of Seosan City, Mr. Wan Sub Lee signed the MOU for Korea Daesan II CCGT Project with President of CGN Meiya, Mr. Lin Jian at Daya Bay. Korea Daesan II gas-fired CCGT power plant locates in the Daesan Petrochemical Complex, Daesan town, Seosan City, Chungnam Province. The planned installed capacity is 1 million KW and scheduled to start construction in 2018 and COD in 2020. After COD of the project, capacity CGN has in Korea will reach 3 million KW. The MOU agreed that Chungnam province and Seosan city will support approval and construction process for Daesan II.
Recognition: widely accepted by the market and public
（Special General Meeting）
The investors at home and abroad showed their hot interests in and heavily subscribed the subjects of clean energy and assets offered by CGN MEIYA. Hereinto, the Hong Kong public offering was 556 times oversubscribed, with about HK$99.6 billion in frozen funds, and won the Top-II ‘King of frozen assets’ award of HKEx.
After IPO, CGN Meiya further cultivates in the capital market by proactively exchange and interact with investors and public and acquires public recognition via holding general meetings attending meetings, roadshows, luncheons hosted by investment banks. In addition, major investment banks such as Morgan Stanley, JP Morgan, Daiwa Securities, CICC, Guotai Juan, BOCI, ICBCI all gave CGN Meiya positive evaluation as “Outperform”.
After a year of development, CGN Meiya has become a long-term holding stock recognized by investors and public, the attention from and acceptance of capital market are growing higher.
Vision: talent breeding for long-term development
CGN Meiya has paid even more attention to employee development. Chairman Chen Sui highlighted the importance of talent breeding as the core capacity to support long-term development.
Assistant President, Company Secretary and General Manager of Investor Relation Department Arthur Lee is an example. By virtue of his outstanding performance and his own professionalism, he was elected as 2015-2016 ACCA Hong Kong Branch President. ACCA is deeply rooted in Hong Kong for many years and approved across the world.
Future: return the trust with excellency
During the year after listed, CGN Meiya took the advantage of financing and operation platform of Hong Kong capital market and spend more effort to further enhanced its structural adjustment and promote core competitiveness and governance.
In the future, CGN Meiya will continue to pay back our investors, clients, employees and society with our outstanding performance by enhancing company governance structure, strengthening risk control, promoting incentive mechanism and increasing profitability.