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Chigo netted more than 300 million air-conditioning 74% subsidy from the State - Chigo Air Conditioning, Zhi Gao Report - household appliances

< BR> 3 25, Hong Kong-listed company, the domestic high- Energy Efficiency

Air conditioning

Market leader

Pescod

The company announced 2009 results. To residential and commercial air conditioning for the main business Pescod Holdings, 2009

Sell

Reached 60 billion, representing more than 5.9 billion yuan in 2008 increased only slightly. However, the company's net profit has increased from 1.6% to 5.2%, total profit reached 314.8 million yuan. Quite unexpected that many market investors.

<BR> However, journalists have noted Pescod disclosed in its annual report last year from the State "

Energy

Projects that benefit the

"Subsidy policies to promote energy-efficient air conditioners to get the amount of government financial assistance and up to 233.6 million yuan, accounting for 74% of annual net profit.

<BR> This, Chi, chairman of the high air-conditioning

Lixing Hao

Said that in 2009, the Government implemented a number of policies, such as "

Appliances to the countryside

Subsidy policy "," export tax rebate policy, ""

Projects that benefit the energy-saving products

"And so on. With these incentives, Pescod to respond quickly and decisively, and enhance the sales and production of energy-saving products. The Group's domestic sales surge, as the global economic recovery, Zhi Gao in the second half of the sales performance improved significantly .

<BR> Learned that Chi's total of 403 models of high product in the "energy-saving products Waste Management Project" in three batches of the national bidding process, all of them as an energy-efficient products, the total number of all successful enterprises ranked first. However, early in March, the National Standardization Committee announced a new mandatory energy efficiency standards for air conditioning, from June 1 this year, China's fixed-frequency air-conditioning market from the current threshold of 5 direct upgrade to 2. With the existing energy efficiency standards, the new standard of energy efficiency limit is increased by 23%.

<BR> Previously, there was news that the new air conditioner energy efficiency standards, the existing energy-saving projects that benefit will cancel the existing two subsidies for energy efficiency product sales, but also reduce an energy-efficient products, the amount of subsidies.

<BR> An industry analyst pointed out Pescod energy-efficient air conditioning unit of all is a product, not two. Moreover, the current high in the new one Chi energy-efficient air-conditioning R & D and products are good preparations. The adjustment of energy-saving projects that benefit the performance of this year on high-impact Yu Zhi will not be much. Air-conditioning business executives also admitted that, once the lifting of energy-saving policy of benefiting the sale of business subsidies, air-conditioning products in the market price will definitely rise. In the short term, prices will suppress part of the market demand.

<BR> Present, Pescod Holdings basic earnings per share significantly enhance the grounds of 22.3 points to 67.5 points. With the high profitability significantly enhance the Chi behind the blog the way up the high price. This reporter noted that from July 13, 2009, Pescod officially listed on the HKEx, the day stock price to close at 2.51 yuan. The March 25, 2010, Chi intraday high price to 6.89 yuan an increase, or up to 275%. According to Hong Kong media reports, Mr Pescod has been holding since the 2009 stock market gains one of the largest of three new shares.

<BR> On March 12, New World Development chairman Cheng Yu-tung Hong Kong sold out yesterday's blog last purchase high holding more than 4,000 million shares, nearly 130 million Hong Kong dollars a successful investment income into the pockets yield up to 133%, once known as the past year to participate in the "fight the new" Hong Kong tycoons who made one of the best victories.

<BR> Last year by the impact of declining sales in overseas markets, high domestic air conditioning Chi turnover decreased slightly by 2.4%. However, the turnover from commercial air conditioning surged 34.0%. Prior Pescod for their own air-conditioning machine spare parts manufacturing and supporting the establishment of factories upstream, because last year a large number of supply for other air conditioning manufacturers, sales increased 70.9%.

<BR> Industry observers point out that this year, domestic air conditioner market in the blog will continue to increase high-energy-efficient air conditioning promotion efforts, an occasion to rise. Meanwhile, Mr Pescod commercial air conditioning business on the input will increase, the current Pescod has begun in Wuhu, Anhui, and Jiangxi Jiujiang, commercial air conditioners were set up two production bases, is expected to be completed in the first half of 2011, when the Chi high number of commercial air conditioning production line will be increased to 9.

<BR> There are signs that, over the years has been "ranks the fourth millennium," said Zhi-high air-conditioning, by last year's corporate net profit rose sharply, energy-efficient air-conditioning to promote outstanding achievements in the momentum will continue this year, set off air-conditioning industry in China the impact of the top three in the series of actions.
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