China Technology Solar Power Holdings Limited (Stock code: 8111)
China Technology Solar Power Holdings Limited (“Company” ) and together with its subsidiaries ("Group"), specializes in (i) sales of solar related products; (ii) power system integration business; (iii) sales of self-service automatic teller machine (“ATM”) systems and printing systems, and (iv) provision of hardware and software technical support services in the People's Republic of China ("PRC" or "China").
The Company was listed in the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited on 3 January, 2001.
SALES OF SOLAR RELATED PRODUCTS
Following the completion of the acquisition of Million Keen Limited, which is principally engaged in the research and development, sales and provision of other relevant technology consultation services of photovoltaic mounting brackets, solar trackers, the guardrail of the solar power stations and solar related products on 22 May 2015, the Group has started the new business of sales of solar related products.
POWER SYSTEM INTEGRATION BUSINESS
System integration refers to the optimization of technologies in the civil engineering system, electrical system and other ancillary system, database technologies, surveillance and software management. The Group shall source equipment and products from different vendors based on the scale and capacity of the respective power stations and subsequently carry out integration of the separated equipment,functions and information into a connected, unified and coordinated system. System integration enables the utilization of resources at their best to enhance optimization of performance of the entire system and achieve centralized, high efficiency, balanced performance, substitutable and available for maintenance, as well as low cost management. The Group also offers subsequent system management services to the power stations.
In September 2013, the Group entered into a memorandum of understanding with an investment company (“Investment Company”) for projects relating to construction of large-scale grid-connected solar photovoltaic power station and distributed power generation on rooftop, which were expected to have an aggregate designed capacity of 300MW (“300MW Project”) by the end of 2016. In October 2013, the Group entered into a co-operation agreement with an energy company in Xi’an (“Xi’an Energy Company”), and together with the Xi’an Energy Company, jointly contracted with a wholly-owned subsidiary of the Investment Company in Jinchang City in Gansu province for the construction of a solar photovoltaic power station with an expected capacity of 50MW (“50MW Gansu Power Station”) which was phase 1 of the 300MW Project. The Group has completed the construction work of the 50MW Gansu Power Station and obtained the system testing and satisfaction report from the Investment Company during the year ended 31 March 2014.
In July 2014, the Group entered into a co-operation agreement with the Xi’an Energy Company, and together with the Xi’an Energy Company, jointly contracted with a wholly-owned subsidiary of the Investment Company in Ningxia Hui Autonomous Region for the construction of phase 2, 3 and 4 of the 300MW Project the expected completion date of which, as orally agreed by the parties to the said co-operation agreement, has been extended from the end of 30 August 2015 to 31 March 2016. The Group has completed the construction work of the phase 3 of the 300MW Project which included a solar photovoltaic power station with an expected capacity of 50MW (“50MW Ningxia Power Station“) and obtained the system testing and satisfaction report from the Investment Company during the year ended 31 March 2015.
In March 2015, the Group entered into a memorandum of understanding with another investment company for projects relating to construction of large-scale grid-connected solar photovoltaic power station, which was expected to have an aggregate designed capacity of 500MW by the end of 2020. The Group had not commenced to provide these services.
ATM SYSTEMS AND PRINTING SYSTEMS OPERATION
The Group is recognized as a professional ATM software, hardware and service company in the ATM sector, and is an authorized value-added reseller of self-service ATM systems of NCR (Beijing) Financial Equipment System Co., Ltd and a marketing agent for Fuji Xerox for its printing systems in China.