CGN New Energy Held its Annual General Meeting In Hong Kong
( 2016-05-19 )

CGN New Energy Holdings Co., Ltd. held (“CGN New Energy”) its Annual General Meeting in Hong Kong in the morning of May 18, 2016. The meeting reported to shareholders about the audited consolidated financial statements of the Company, the Report of Directors and Independent Auditor’s Report for the year ended 2015. The Meeting reviewed and voted to a number of resolutions, such as declaring a final dividend for the year ended 31December, 2015, appointment of Board of Directors and granting a general mandate to the Directors to repurchase and issue the Company’s shares. Mr. Chen Sui, Chairman of the Board, hosted the meeting. All resolutions were passed by the shareholders with over 99% of the votes cast in favour of each resolution.

In 2015, CGN New Energy has strictly fulfilled the promise to shareholders and to the market from IPO and finished the first batch of asset injection of high-quality wind and solar energy assets. The attributable installed capacity in operation rose from 3,659.6MW in 2014 to 5,064.6MW in 2015, representing a year-on-year increase of 38.4%. Meanwhile, CGN New Energy has committed to a balanced development of energy structure and a steady growth of operational performance. The revenue for 2015 was USD 1,151.9 million. And the net electricity generated amounted to 10,375.7GW, representing an increase of 9.5% compared with 2014. Total steam sold amounted to 2,752 tons, representing an increase of 2.6% compared with 2014. Profit before tax was USD 162.4 million, 17.5% compared with 2014. And profit attributable to the Company’s shareholders was USD 103.9 million, representing an increase of 22.1% compared with 2014.

According to resolutions passed at the Meeting, the Company will distribute a final dividend of 0.44 US cents per Share (equivalent to 3.44 HK cents per Share) for the year ended 31 December, 2015 to the shareholders whose names appear on the register of members of the Company on 14 June, 2016. Also, it has been agreed to re-elect Mr. Lin Jian as an executive Director and Mr. Chen Qiming, Dai Honggang, Xing Ping as non-executive Directors. The Meeting has also approved to grant a general mandate to the Directors to repurchase and issue the Company’s shares with the repurchased amount not exceeding 10% of total par value issued on the day the General Meeting was held, and the total issued amount not surpassing 20% of total par value issued on the day the General Meeting was held.

Directors and senior management of CGN New Energy attended the Meeting.

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