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Achieves Breakthrough in Proprietary Building Energy Saving Management Systems
Expanding Global Business Network and Strengthening The Market Leadership |
HONG KONG, Mar 21, 2013 - (ACN Newswire) - Technovator International Limited ("Technovator" or the "Group", HKEx: 1206), a leading provider of building energy saving management systems and solutions services, today announced its audited annual results for the year ended 31 December 2012.
As at 31 December 2012, the Group achieved growth in both revenue and profit, driven by the Group‟s success in developing the global market, expanding and deepening the distribution network, strengthening R&D capability, raising brand recognition and implementing of effective internal management policies. Revenue grew 27.4% to US$124.2 million. Profit attributable to the equity holders of the Company increased by 28.8% to US$13.4 million. Basic earnings per share were US$0.027. The Group was in a healthy and sound financial position. Gearing ratio was 10.2%. Cash and cash equivalents amounted to approximately US$40.5 million.
Mr Zhao Xiaobo, Executive Director and Chief Executive Officer of Technovator, said, "In the past year, the Group has allocated resources to explore new business model and captured the opportunities from the domestic demand in building energy saving management driven by urbanisation, driving business growth of the Group. Meanwhile, the Group has established a strategic alliance with a renowned overseas peer and explored businesses in emerging markets to strengthen its brand reputation and international project management experience. In last October, the Group changed its Chinese name to ‟, highlighting it is under the umbrella of Tsinghua University and the close relationship with its largest shareholder, Shanghai-listed Tongfang Co., Ltd. We believe the new name should benefit the future development of the Group."
R&D capabilities
Technovator has three R&D centres globally, which are located in China, Canada and France respectively. During the year, the Group‟s total R&D investment amounted to US$8.9 million, accounted for 7.2% of revenue.
During the year under review, the Group developed the first cloud-based service system which combines the usage of internet and data integration in the PRC. This system provides systematic and integrated services such as expert energy-consumption analysis for the buildings, energy-saving control and data management for companies and governments. The Group has also launched the Energy-saving Expert Control System, which combines the functions of energy management, energy-saving analysis and control. The system can be applied in various public buildings and is able to customise for products and systems in accordance with different needs of projects, helping users maximise energy-saving.
The PRC market
During the year, the Group‟s revenue contributed by the PRC market increased by 33.8% to approximately US$77.9 million, accounted for 62.7% of the revenue. The increase was mainly attributable to favourable energy policies implemented by the Government, rising awareness of energy efficiency in the application of energy management for buildings in the PRC and rapid urbanisation of second and third-tier cities.
Local governments have launched various measures to achieve energy savings and emissions reduction under the 12th Five-Year Plan, which has in turn boosted demand for relevant solutions. So far, the Group has already provided energy saving reform services for different types of buildings ranging from government office buildings, school campuses, hospitals and offices in cities such as Beijing, Chongqing, Jinan, Hangzhou, Wuhan and Chengdu.
Meanwhile, Technovator has been appointed to conduct energy-saving reconstruction of public infrastructure in Chongqing. The Group completed the first phase during the year, and expects to complete over two million square metres by 2015. The city energy saving management projects of the Group in regions such as Shanxi, Xinjiang and Inner Mongolia are also under a rapid progress.
Overseas markets
Active expansion of overseas markets is one of the Group‟s core strategies. The markets in developed countries had a strong demand for the existing building energy retrofitting to achieve more efficient energy consumption during the year. As a result, leveraging its strategy to focus more on large-scale contracts and expertise in providing competitive building energy saving management solutions, as well as the active expansion in sales and distribution channel, the Group has succeeded in steadily growing within these markets.
In the year under review, revenue in the North American market increased to approximately US$27.8 million, while revenue from Europe and other oversea markets also rose to approximately US$18.5 million.
In 2012, the Group‟s subsidiary Distech Controls entered a strategic partnership with Samsung Techwin, a global leader in energy and safety solutions, to jointly offer building energy saving management solutions and energy efficiency consulting services by combining each other‟s strengths. Besides, Distech Controls has also brought in new strategic investors to broaden and enhance its shareholder base and also strengthen the working capital of the Group.
The Association of Southeast Asian Nations (ASEAN) will be designated as one of the key areas for future development by the Group. In March 2012, the Group‟s first energy saving project in Burma was completed and in operation. With the good reputation of this project in the country, Technovator won another project to provide integrated building energy saving management solutions in Burma, which is expected to be completed in 2013.
Mr Zhao concluded, "Accelerating urbanisation in the PRC, strong demand for energy management for buildings from around the world and rising energy costs have aroused the awareness of energy saving. This, together with the stricter regulations on building energy saving management by a number of governments around the world, have presented huge opportunities to the global building energy saving management industry. Looking ahead, we will focus on the development of innovative products and comprehensive solutions riding on our strength in R&D, increase business expansion efforts through our global sales and marketing network and identify strategic partners with innovative technology and capabilities. In this way, we will be able to enlarge the Group‟s scale, expand the product portfolio, and continuously widen the geographic reach of market, thus creating a greater value for our shareholders."
Contact:
Strategic Financial Relations (China) Limited
Ms Esther Lau
Tel: 2864 4845
email: esther.lau@sprg.com.hk
Mr Justin Chen
Tel: 2864 4877
email: justin.chen@sprg.com.hk
Topic: Earnings
Source: Technovator International Limited
Sectors: Daily Finance, IT Individual, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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