DEC Ltd. held board meeting for 2012 Interim Report

On 21st, August, DEC Ltd. held the second session of the 7th board meeting. 2012 Interim Report was examined and passed in this meeting. Chairman Si Zefu took the chair in the meeting. The unaudited 2012 Financial Report and un audited 2012 Interim Report were examined and passed unanimously.

In the first half year of 2012, thoroughly following the guidelines of “adjusting structure, driving innovation, strengthening management, and enhancing quality”, DEC Ltd. took active measures to minimize the adverse effects of the global economic downturn and the decreasing demand in power market on the operation of the Company and forged ahead with concerted efforts, thus sustaining a steady growth.

During the reporting period, under the PRC ASBE, the Company recorded a total operating revenue of RMB 20011 million, representing a year-on-year increase of 1.28%; net profit attributable to shareholders of the Company of RMB 1240 million,representing a year-on-year decrease of 19.11%; earning per share of RMB 0.62. The Company produced power generation equipments with 16551 MW, representing a year-on-year decrease of 21.6%.

During the reporting period, with the demand shrinking and the fierce competition, there was difficulties in propelling the market development. The company secured RMB 22000 million worth of new contract orders. Among them, the export orders were worth of 2240 million, representing 10% of the new orders. The gas turbine orders were worth of 6700 million, representing 30% of the new orders.

The problems and difficulties in operation were also revealed in the report. On one hand, the market demand shrank, with furthering decrease in thermal demand, non-substantive start of nuclear market, and more intense competition in wind power market. The shrinking market demand has brought great difficulties and challenges to the Company’s market development. On the other hand, due to the national policy and insufficiency in the project owners’ funds, there existed uncertainties in some project scheduling, which increased company’s loan recovery.

In the second half of 2012, faced up with more severe domestic and overseas market, the Company will pay close attention to the new technology and new projects. It will seize the opportunity of the speedy development of gas market and nuclear restart, thus ensuring the Company's sustained ans steady development.

2012 Interim Report was disclosed in mainland and Hongkong in 22th, August spontanuously.
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