On 24 May, the Company convened the 2012 Annual General Meeting (AGM) to consider and approve the report of the board of directors of the Company for the year ended 31 December 2012, the report of the supervisory committee of the Company for the year ended 31 December 2012, the proposal for the distribution of profits after tax for the year ended 31 December 2012 and the audited consolidated financial statements of the Company and its subsidiaries for the year ended 31 December 2012. 

Mr. Si Zefu, Chairman of the Company, acted as the chairman of the AGM and presided thereat, and some of the Directors, supervisors, and senior management members of the Company, attesting lawyers and scrutineer for the poll attended the AGM. A total of 35 shareholders and authorized proxies holding an aggregate of 1,121,097,817 shares attended the AGM (27 onsite voting and 7 online voting), all of them accounting for approximately 55.95% of the total number of shares with voting rights. Hong Kong Registrars Limited, King & Wood Mallesons and some of the presses also attended and witnessed the AGM.

At the AGM, Mr. Si Zefu reported to the shareholders the 2012 annual operational outcomes and 2013 operational plan. The year 2012 witnessed our efforts to overcome difficulties and achieve transformation and development. In 2012, the Company accomplished the total power equipment manufacturing capacity of 32.61 GW, leading to the operating revenue of RMB Billion 38.1, the earnings per share of RMB1.09, total assets of RMB Billion 78.3 and the consolidated gross margin of 20.84%. Despite a negative growth in the operating results of the Company was drawn for the first time ever since its holistic listing, the Company maintained a stable and sustained development momentum under joint support from all shareholders, through concerted efforts of all employees, and by centering around the overall requirement of “adjusting structure, driving innovation, strengthening management, and enhancing quality”. Looking into 2013, the Company is still facing grim international and domestic market situations and indefinite development opportunities as well. The Company will unswervingly forge ahead with the “three shifts,” deepen reform, deal with difficulties and strive to accomplish the 33 GW manufacturing capacity as scheduled in 2013.

Distribution of final dividend for the year ended 31 December 2012 is as follows: taking 2,003,860,000 shares in issue as the base, the Company is to distribute a cash dividend of RMB0.11 (tax inclusive) per share, totaling approximately RMB 220,424,600.00. Stock dividend and the capital reserve transferred to common shares are not to be implemented in 2012.

Meanwhile, the AGM also considered and approved 2012 work report of the Supervisory Committee, the proposal for the distribution of profits after tax for the year ended 31 December 2012, the audited consolidated financial statements of the Company and its subsidiaries for the year ended 31 December 2012, the re-appointment of ShineWing Certified Public Accountants as the auditors of the Company auditing the Company’s financial statements for the year 2013 and the Proposal for the General Mandate Authorized to the Board to issue new shares, and so on.

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