GCLNEWENERGY：ANNOUNCEMENTOFUNAUDITEDANNUALRESULTSFORTHEYEARENDED31DECEMBER2019.pdf

1、 1 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement,make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in rel

2、iance upon the whole or any part of the contents of this announcement.GCL New Energy Holdings Limited協 鑫 新 能 源 控 股 有 限 公 司(Incorporated in Bermuda with limited liability)(Stock code:451)ANNOUNCEMENT OF UNAUDITED ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019FINANCIAL HIGHLIGHTS20192018RMB millio

3、n RMB million(Unaudited)(Audited)Revenue6,0525,632EBITDA*5,3994,546Profit for the year605749RMB centsRMB cents(Unaudited)(Audited)Earnings per shareFrom continuing operations Basic1.542.46 Diluted1.542.42*Earnings before finance costs,taxation,depreciation and amortisation.2 CHAIRMANS STATEMENTIn 20

4、19,Chinas solar energy industry has made strides amid fluctuations arose in the transition from subsidy-driven,to a market driven by grid-parity projects.As the entire domestic solar market faced a year of downturn,GCL New Energy remained steadfast and made a concerted effort to progress steadily wi

5、th satisfactory results achieved.During the Year,we continually made“adjusting structure,lowering debt,sustaining cash flow and refining operation”as our key strategies,meanwhile,resolutely carried out our main priorities of strategic investors introduction,light-asset operation,financing channels e

6、xpansion and cash flow conversion to demonstrated our determination in implementing the strategic transformation of GCL New Energy with practical actions.Despite the domestic economy faced with mounting downward pressure in 2019,the total electricity consumption still maintained a steady growth of 4