DEC Ltd. Convened the 22nd Meeting of the 7th Board to Discuss and Approve the 1st Quarterly Report

On 29 April, DEC Ltd. held the 22nd meeting of the 7th Board to discuss and approve the 1st quarterly report. Mr. Si Zefu, Chairman of the Company presided the meeting 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 10894MW in the first three months of 2014, up YOY 19.6%. The first quarterly new order of the company amounts to RMB 11.04. Billion, down YOY 16%. The total operational revenue of the first quarter reached RMB 7.685 Billion, down YOY 6.95%; the net profit attributable to the parent company reached RMB 0.107 Billion; the EPS went to RMB 0.05, substantially down YOY 74.22%.

Drawn from the operational status, the company faces severe market competition, reflected by a downfall of sales revenue, gross profit, difficulty in collecting receivables, and reduction of stock of monetary resources. Upon the increase of power equipment manufacturing output capacity, the profit and revenue index suffered substantial decrease due to a fall of product consolidated gross profit, which thereafter raised severe challenge to the production and operation of the Company. The Company will persistently put into practice the “three shifts” strategy and make possible endeavor to maintain the overall stable operation.

The first quarterly result was simultaneously published both in mainland and Hong Kong on 30 April. On the same day, DEC Ltd. held the 1st quarterly results teleconference right after the disclosure of the 1st quarterly report. Over 100 fund managers, analysts and institutional investors in and out of China joined in the meeting. CFO and company secretary Mr. Gong Dan, General Manager of Nuclear Power Division Mr. Wang Hong, Director of the Board Office Mr. Huang Yong, Director of Department of Finance Mr. Zeng Yi and Vice General Manager from DEC Ltd. International Mr. Lan Zehai attended the meeting.

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