DEC Ltd. Convened the 14th Meeting of the 7th Board to Discuss and Approve the 1st Quarterly Report

On 29 April, DEC Ltd. held the 14th meeting of the 7th Board to discuss and approve the 1st quarterly report and modify the work regulations for related special committee. Mr. Si Zefu, Chairman of the Company presided the meeing thereat, with 9 directors attending in person or in proxies and some of the Directors, supervisors, senior management members and auditors of the Company, attesting lawyers presented the meeting.
 
The 1st quarterly report revealed that the power equipment manufacturing output capacity reached 9100MW in the first three months of 2014, up YOY 60.2%, amongst which, the water-turbine generator sets amount to 7 totaling 1270MW, steam-turbine generator sets amount to 19 totaling 7745MW, wind power sets amount to 56 totaling 91MW. The first quarterly new order of the company amounts to RMB 12.9 Billion, with clean and high-efficient energy accounting to 64%, new energy taking up 22%, hydro and environmental protection equipments taking up 2% and lastly the engineering and power plant service taking up 12%. The total operational revenue of the first quarter reached RMB 8.26 Billion; the net profit attributed to the parent company reached RMB 0.418 Billion; the EPS went to RMB 0.21, comparatively down YOY.
 
Drawn from the operational status, the company still faced severe market competition, reflected by a downfall of revenue, gross profit, difficulty in collecting receivables, and reduction of stock of monetary resources. Upon the sharp increase of power equipment manufacturing output capacity, the profit and revenue index suffered slight decrease YOY. However, by persistently adhering to the “three shifts”and strengthening the internal control, the overall operation of the company enjoys even running.
 
The first quarterly result was simultaneously disclosed in mainland China and Hong Kong.
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