Auhua Clean Energy reports revenue rise in 2012

Auhua Clean Energy on Tuesday posted a 'solid' trading performance for the year with a 30 per cent increase in revenues.

Auhua Clean Energy on Tuesday posted a 'solid' trading performance for the year with a 30 per cent increase in revenues.

Ahead of its results for 2012, the China-based environmental technology group said revenues reached 218m yuan and profit before tax for 2012 is expected to be moderately ahead of market expectations.

Last April the group was listed on the AIM and has since continued to make progress.

The group's new factory in Rushan, Weihai City is fully operational and will be able to meet the increasing demand for split-unit solar water heater systems.

During the year, the company received a five-star certification for the heaters from the Shandong Solar Energy Industry Association.

The board predicts revenue growth this year, driven by contracts with conglomerate property developers which have agreed to use Auhua's split unit solar water heaters exclusively.

Raphael Tham, Chairman of Auhua said: "After listing on AIM last year, we have gained exposure and credibility in China. This, together with a strong performance in 2012, means we are confident of our future.

"We have continued to increase market share in our domestic market and have plans to expand our business to meet rising demand. We look forward to updating shareholders further with the release of our preliminary results in mid-April."

RD

Recommended

HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022
How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022

Most Popular

Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
Which investment trusts performed the best in 2021?
Investment trusts

Which investment trusts performed the best in 2021?

Shivani Khandekar runs through the top ten investment trusts of 2021 – and the worst performing trusts – and looks ahead to 2022.
7 Jan 2022
The booming jobs market points to inflation lasting for longer
Economy

The booming jobs market points to inflation lasting for longer

It’s a good time to be looking for a job, with plenty of vacancies and wages rising. But higher wagers are driving inflation up – and it’s not just a …
11 Jan 2022