PV Crystalox Solar plc (PVCS) 2016年年度报告「LSE」.pdf

1、PV Crystalox Solar PLCAnnual report and accounts 2016PV Crystalox Solar is a long established supplier to the global photovoltaic industry,producing multicrystalline silicon wafers for use in solar electricity generation systems.About us and highlightsStrategic reportIFC About us and highlights01 Ch

2、airmans introduction02 Operational and financial review06 The current market08 Our strategy and KPIs10 Risk management and principal risks12 Corporate responsibilityGovernance14 Chairmans introduction to governance15 Corporate governance statement17 Directors18 Report of the Nomination Committee19 D

3、irectors remuneration report29 Report of the Audit Committee31 Directors report33 Statement of directors responsibilitiesFinancial statementsConsolidated financial statements34 Independent auditors report35 Consolidated statement of comprehensive income36 Consolidated balance sheet37 Consolidated st

4、atement of changes in equity38 Consolidated cash flow statement39 Notes to the consolidated financial statementsCompany financial statements57 Independent auditors report 58 Accounting policies59 Company balance sheet60 Notes to the Company financial statementsShareholder information64 AdvisersNet c

5、ash28.8m2015:12.7mRevenues56.7m2015:64.5mInventories11.2m2015:23.2mNet cash from operating activities 18.0m2015:(12.9)mEBT(earnings before taxation)1.7m2015:(13.7)mFind more online Overview Industry environment has deteriorated sharply in the second half of the year Wafer shipments were 114MW(2015:2

6、03MW)Significant reduction in polysilicon inventory and consequent release of cash United Kingdom ingot production expected to close during 2017 Termination of final major long-term polysilicon contract agreed in September 2016 ICC arbitration evidentiary hearing scheduled for end of March 2017Strat