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HONG KONG, June 23, 2017 - (ACN Newswire) - Zhong Fa Zhan Holdings Limited ("Zhong Fa Zhan" / "ZFZ" or "the Group"; Stock Code: 475) today announced the latest developments of its business.
In recent years, favorable green energy policies have boosted development of related industries. With Suncool AB, a leading energy conservation technologies development company in Sweden, becoming a strategic shareholder, the Group has taken an active role in building its solar energy business and the segment has started to contribute to the Group during the year. Zhong Fa Zhan has also continued to maintain close ties with Suncool AB as it seeks to customize CoolStore cooling pipes and collectors for use in the PRC. These products have entered the production stage and are ready for the mass production next year. Already, a temporary production line with maximum annual production capacity of 1,200 units of cooling-store pipes has been rented in the short-term by the Group in the current year, and production has started to meet the demand of pilot projects.
In order to promote the Zhong Fa Zhan brand to the solar energy industry in the PRC, the Group has proactively attended industrial seminars and was also invited to deliver keynote addresses to introduce its innovative technologies and products, earning widespread industry recognition. Furthermore, Zhong Fa Zhan has been vigorously seeking new customers from different sectors, including educational institutions, governmental authorities, hotel chains, commercial building owners, hospitals, pharmaceutical suppliers and cold chain logistics enterprises, in order to strengthen education on energy conservation and emission reduction, as well as promote the significant benefits of the Group's products.
In June 2017, the Group began a pilot project in a three-storey commercial building located in Anhui. The project involves the construction of a 64 square meter facility with solar energy collectors on the building's rooftop to deliver sustainable heating and cooling. The management is confident that potential customers will follow the pilot project because of its uniqueness in terms of technology and efficiency, with the solar energy collectors providing twice as much energy as today's other solutions and can be used for both heating and cooling.
For the purpose of further expanding the solar energy business, the management has established a clear development plan. For the coming year, the leased factory at Binhai New Area, Yuyao, with a gross floor area of approximately 27,500 square meters - within a site area of approximately 50,000 square meters - and an annual maximum capacity of approximately 156,000 units of cooling-store pipes, will be occupied by the Group. The management plans to invest HK$17 million in machinery, equipment and fixture, part of which will be used for leasehold improvement, greenery landscaping and purchase of equipment for security monitoring. The objective will be to strengthen overall business capabilities, improve production and technical innovation, enhance corporate governance and maximize operational efficiency.
Looking ahead, the Group believes that the ongoing issue of favorable green energy policies will lead to more opportunities for the solar energy business. Zhong Fa Zhan will make every effort to seize and create more opportunities in order to drive business growth. Once production is transferred to the leased factory in Yuyao in the coming year, the Group expects its production model and marketing strategies will further improve, and will elevate the Group to a new level of business development, enhancing its position in the industry. Zhong Fa Zhan will continue exploring potential investment opportunities in a timely manner, and employ diversified strategies to enlarge its asset base and create greater room for long-term development. The Group is confident in its ability to observe prudent strategies for maintaining steady growth, and delivering favorable results to shareholders for their long-term support.
About Zhong Fa Zhan Holdings Ltd
Zhong Fa Zhan Holdings Ltd is a company listed on the main board of Hong Kong stock exchange since 2007. It is currently devoted in developing its business in the environmental protection and energy saving field. Engaging in this Solar Air Conditioning business signifies that Zhong Fa Zhan has taken a crucial step in tapping its green energy business development plan.
Media enquiries:
Strategic Public Relations Group
Mr. Keris LEUNG +852 2864 4863 keris.leung@sprg.com.hk
Ms. Fanny YUEN +852 2864 4853 fanny.yuen@sprg.com.hk
Topic: Press release summary
Source: Zhong Fa Zhan Holdings Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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