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HONG KONG, Mar 13, 2012 - (ACN Newswire) - China Innovation Investment Limited ("China Innovation", Stock Code: 1217.HK), the company focuses on "four new industries", announced its 2011 annual results for the periods ended 31 December 2011.
Financial Performance Review
During the reported period, China Innovation recorded a total revenue of HK$5,867,000 (2010: HK$2,848,000). Loss attributable to owners of the Company was HK$689,000, while the profit for the corresponding period of 2010 was HK$ 3,586,000. Basic loss per share attributable to owners of the Company amounted to 0.01 cents (2010: EPS 0.05 cents). The loss for the year was mainly due to the decrease in revenue from the investment in securities. The directors do not recommend the payment of dividend.
Operation Review
As at 31 December 2011, the Company held investments in four unlisted companies namely Topsun Creation Limited ("Topsun"), Aesthetic Vision Limited("Aesthetic Vision"), United Crown Century Company Limited ("United Century") and Blue Angel (H.K.) Limited ("Blue Angel"), and carrying values of these investments were approximately HK$77,925,000, HK$78,349,000, HK$78,700,000 and HK$78,300,000 respectively (after impairment provision of HK$4,500,000).
Outlook
The Company is one of the few investment companies in Hong Kong focusing investment in dual usage of military and energy-saving technology sectors. We invest in listed and non-listed civil and military joint ventures with high quality to strive for medium-term gains from capital appreciation in the course of securitization of corporate assets invested, and apply the same as our key operation strategy and income source.
Leveraging on our experience and well-connected network in the Mainland market over years, the Company recently invested in military and civil dual-used charge storage batteries, new models of lighting products, eco-equipment materials and energy-saving media terminals respectively through its investment. With energy conservation as our development goal, our investments have achieved breakthroughs in realising the four new industries of "New Energy", "New Light", "New Materials" and "New Media", military and civil dual-application in real projects.
For "New Energy", the Company invests in Topsun Creation Limited ("Topsun"), which adopts the power reserve patent technology of military aviation as its own core to develop the strategy of "Production - Research - Preliminary Research" for the research and manufacturing of solar photovoltaic system. With features of high capacity, fully sealed and maintenance-free, the system is widely used in military equipment and civil vehicles as well as construction, etc.
For "New Light", the Company invests in Aesthetic Vision Limited ("Aesthetic Vision"). Aesthetic Vision's major product is LED lighting. It possesses of LED ergonomics technology with features including LED illuminant, appropriate light flux, free colour temperature, healthy spectrum and compliance to ergonomics.
For "New Materials", the Company invests in United Crown Century Company Limited ("United Crown Century"). Being the pioneer in the new energy-saving eco-sheet industry in the PRC market, United Crown Century mainly specializes in research and development of energy-saving eco-sheet materials for walls.
For "New Media", the Company invests in Blue Angel (H.K.) Limited ("Blue Angel"), which mainly engages in producing and assembly of solar products with the use of solar energy and LED technologies, so as to develop a completed industry chain of four new energy and provide a one-stop production setting with synergy effect.
Being dedicated to outline a completed industry chain of four energy conservation, the Company is actively seeking more investment opportunities in new technologies like solar energy and LED, in order to build a greener low-carbon living.
Looking forward, the Company will continue to explore the investment opportunities to achieve medium-term capital appreciation.
Contact:
China Innovation Investment Limited
Email: carmen.lee@1217.com.hk
Tel: +852 2111 9988
Fax: +852 2111 9989
Topic: Earnings
Source: China Innovation Investment Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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