(Hong Kong, China) 13 August 2024 – China HK Power Smart Energy Group Limited (00931.HK), referred to as “China HK Power,” successfully hosted its 2024 Annual Results Investor Meeting in Hong Kong. This marked the first investor meeting held by China HK Power since its strategic transformation, a significant milestone in the Group’s global energy ambitions and a crucial forum for discussions on sustainable development.
At the meeting, China HK Power's management provided a comprehensive overview of the Group's operations, financial performance, and strategic direction to investors and analysts from leading investment institutions. The discussions also explored industry trends and future prospects, offering the financial markets a clearer understanding of the Group's growth trajectory.
New Management Steers Strategic Transformation with Remarkable Results
In October 2023, China HK Power recruited a highly experienced executive team to accelerate the implementation of its new corporate strategy. The new management team comprising of industry veterans with extensive expertise in the energy sector, well-equipped to navigate the challenges of a rapidly evolving industry. Over the past year, the Group’s existing natural gas operations have demonstrated steady growth. Meanwhile, under the new management, China HK Power has made significant progress in the new energy sector, advancing its green energy strategy and injecting new momentum into its long-term growth.
(Pictured from left to right): Lan Hai, Chief Financial Officer; Liu Yongtao, Executive Vice President; Billy KAN, Chairman of the Board; Deng Yaobo, Chief Executive Officer and President; and Chen Leixin, Executive Vice President）
Strong Financial Performance and a Promising Diversification Strategy
For the financial year ending 31 March 2024, China HK Power, guided by its new management, achieved impressive growth, with a 114% increase in overall revenue and a substantial 494% rise in gross profit, demonstrating significant growth momentum. The Group's established natural gas business continued to perform strongly, showing notable growth compared to the previous year and reinforcing its core operations. At the same time, the Group made substantial strides in the new energy sector, rapidly evolving from a newcomer to a key player, thereby contributing to its diversified revenue streams. In the latter half of the financial year, the newly launched new energy business showcased remarkable market adaptability and profitability within just four months, underscoring the Group's potential and competitive strength in this sector.
Driving Forward with New Energy and Natural Gas: China HK Power Unveils New Era of Smart Energy
The global shift towards green energy is an unstoppable trend, offering substantial opportunities in the clean energy sector. With its roots in traditional energy, China HK Power is committed to seizing these opportunities by aligning with national policies aimed at optimising the energy mix. While ensuring the stability of its natural gas operations, the Group is intensifying its push into the new energy sector, aiming for a balanced and sustainable growth model. Beyond advancing its energy transition and management practices, China HK Power is also venturing into new areas such as artificial intelligence, carbon reduction strategies, and digital asset platforms. These efforts are set to bolster the Group’s presence on the global energy stage and deliver increased value to its shareholders.
Looking ahead, China HK Power is leveraging its expertise in energy logistics and storage to establish global partnerships, broaden its market presence, and strengthen its position in upstream markets. Drawing on its experience in natural gas and new energy, the Group is committed to sustainable development and delivering long-term value. Aligning with national policies, China HK Power supports directives from the Central Committee of the Communist Party of China and the State Council on green transformation. The Group is integrating green principles into its strategy, focusing on low-carbon frameworks, sustainable practices, and green transport, to advance a greener, low-carbon future.
