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China Power New Energy Development Company Limited (00735.HK)

Power Producers
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2018 (IR)
2017 (AR)

PRESENTATIONSmore

China Power New Energy Development Company Limited (the "Group") is a company incorporated in Bermuda with limited liability, whose shares are listed on The Stock Exchange of Hong Kong Limited.

The principal activities of the Group are the development, construction, owning, operating and management of clean energy power plants, including but not limited to, wind power generation, hydro power generation, waste-to-energy power generation, natural gas power generation, photovoltaic power generation and other power generation in Mainland China. In addition, we are committed to developing specific projects, such as distributed energy resources of smart electricity system and green smart healthy city. The power generation plants and green energy projects currently owned or controlled by the Group are mainly situated in Guangdong, Fujian, Hainan, Guizhou and Gansu, the electricity generated thereof is sold to Southern Power Grid, East China Power Grid and Northwest Power Grid. The Group is also engaged in investment holding in the clean energy power industry, property investments and securities investments.

As at 31 December 2013, with a total asset of over RMB 17 billion, installed capacity of the Group was 2,164.5 MW including 978.5 MW wind power, 651 MW hydro-electric power, 100 MW photovoltaic power, 54 MW waste-to-energy power, 360 MW natural gas power and 21 MW other forms of powers.
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Mr. He Hongxin - Vice Chairman

Born in 1970

Joined the Company as a director since 1 April 2013
Designated as an executive director of the Company in May 2017

Other positions in the Group
Investment and Budget Management Committee — Member

China Power New Energy Development Company Limited (a wholly-owned subsidiary of the Company) — Director

Qualifications
Financial Accounting — Zhongnan University of Economics and Law (formerly known as Zhongnan University of Finance and Economics), Bachelor’s degree

Executive Master of Business Administration (EMBA) — Peking University, Master’s degree

Other major offices
China Three Gorges Corporation (a substantial shareholder of the Company) — Head of the Asset Finance Department (since June 2017) and Group Deputy Chief Accountant (since November 2018)

Bank of Beijing Company Limited (SSEC: 601169) — Director (since 25 December 2018)

China Yangtze Power Co., Ltd (SSEC: 600900) — Director (since 28 December 2018)

Past offices
No. 1 Smelting Plant of Maanshan Iron & Steel Company Limited — Accountant of the Finance Division

China Three Gorges Corporation Limited — Chief Officer of the Financial Department; Deputy Head, Head and Chief Auditor of the Asset Finance and Accounting Department; Deputy Manager of the Capital Finance Department; and Deputy Manager of the Asset Finance Department

China Three Gorges New Energy Co., Ltd. — Deputy General Manager
 

Mr. He Lianhui -

Born in 1970

Joined the Group as a director since 1 April 2013, and designated as an executive director of the Company in May 2017

Position in the Group
China Power New Energy Development Company Limited (a wholly owned subsidiary of the Company) — Director


Qualifications
Senior Accountant

Master degree in accounting — Dongbei University of
Finance and Economics

Other major offices
China Power International Development Limited (HKEx: 2380) — Financial Controller

China Power International Holding Limited (a substantial shareholder of the Company) — Financial Controller


Past offices
Jilin Power Supply Bureau — Chief Accountant

Jilin Province Electric Power Company Limited — Deputy Head of the Finance Department

China Power International Development Limited (HKEx: 2380) — Deputy Chief Accountant China Power International Holding Limited (a substantial shareholder of the Company) — General Manager of the Finance and Property Management Department and the Finance Department and Deputy Chief Accountant

Wu Ling Power Corporation — Financial Controller

Hunan Branch of SPIC — Financial Controller

Mr. Sun Guigen -

Born in 1966

Joined as directors of subsidiaries of the Group and general manager of China Power International New Energy Holding Limited since August 2016, and appointed as an Executive Director of the Company since 27 March 2019

Position in the Group
Investment and Budget Management Committee of the Company — Chairman

China Power International New Energy Holding Limited (an indirect wholly-owned subsidiary of the Company) — General Manager

China Power New Energy Development Company Limited (a wholly owned subsidiary of the Company) — Director

Directors of various subsidiaries of the Group

Qualifications
Senior Engineer

Master of business administration degree — Shanghai University of Finance and Economics

Other major offices
China Power International Development Limited (HKEx: 2380) — Vice President

China Power International Holding Limited (a substantial shareholder of the Company) — Deputy General Manager

Past Offices
China Power International Development Limited (HKEx: 2380) — Chief Engineer China Power International Holding Limited (a substantial shareholder of the Company) — Chief Engineer

Jiangsu Changshu Electric Power Generating Company Limited — Deputy Chairman

Sichuan CPI Fuxi Power Company Limited — Chairman

Hunggang Dabieshan Power Company Limited — General Manager

China Power Maintenance Engineering Company Limited — Deputy General Manager

Anhui Huainan Pingwei Electric Power Company Limited — Deputy General Manager

Mr. Qi Tengyun -

Born in 1969

Joined the Group since 19 August 2014
Designated as an executive director of the Company in May 2017

Other positions in the Group
Deputy General Manager of the Company

China Power New Energy Development Company Limited (a wholly-owned subsidiary of the Company) — Director

Qualifications
Mining Machinery — Shandong University of Science and Technology (formerly known as Shandong Institute of Mining and Technology), Bachelor’s degree

Management Science and Engineering — China University of Mining and Technology, Master’s degree

Other major offices
China Power International New Energy Holding Limited — Deputy General Manager

China Three Gorges Corporation (a substantial shareholder of the Company)  Deputy General Manager of General Office (the office of the Board) (Since January 2017)

Past offices
Shandong University of Science and Technology (formerly known as Shandong Institute of Mining and Technology) — Deputy minister of the department of
students affairs and deputy head of the student affairs’ office; Head of department of student associations affairs of the Qingdao campus

China International Water & Electric Corp. — Deputy Head of the General Manager Office; Assistant Manager of the Department of General Affairs
China International Water & Electric Co., Ltd* — Assistant Manager of the Department of General Affairs

China Water Investment Group Corp.* — Head of the General Manager Office; Committee member of the commission for discipline inspection; Secretary of the youth league committee

China Three Gorges New Energy Co., Ltd.* (formerly known as China Water Investment Group Corp.*) — Assistant to General Manager

Mr. Tian Jun -

Born in 1966

Appointed as a non-executive director of the Company since 27 March 2019

Position in the Group
Nomination Committee — Chairman

China Power New Energy Development Company Limited (a wholly owned subsidiary of the Company) — Director

Qualifications
Professor level senior engineer

Master of engineering degree — Taiyuan University of Technology

Other major offices
China Power International Development Limited (HKEx: 2380) — Executive Director and President

China Power International Holding Limited (a substantial shareholder of the Company) — Director and General Manager

Past Offices
Hejin Power Branch of Shanxi Zhangze Electric Power Co., Ltd. — General Manager

CPI Power Operation Co., Ltd. — Deputy General Manager and Chief Engineer

CPI Xinjiang Energy Co., Ltd. — Deputy General Manager

State Power Investment Corporation Limited — Deputy Director of the Safety and Environmental Protection Supervision Department

State Power Investment Corporation Yuanda Environmental Protection Co., Ltd. (SSEC: 600292) — Director and General Manager (resigned in April 2017)

Mr. Zhou Jiong -

Mr. Chu Kar Wing -

Born in 1957

Joined the Group since 23 December 2002
Acted as a director of the Company since 9 May 2017
 
Other positions in the Group
Audit Committee — Chairman
Remuneration Committee — Chairman    
Nomination Committee — Member

Qualifications
Social science majoring in economics — Bachelor's degree

Other major offices
Emperor Capital Group Limited (HKEx: 717) — Independent non-executive director

Public service
Canada-China Culture and Education Association — President

Other information
Extensive experience in the banking and finance sector

Mr. Li Fang -

Born in 1962

Joined the Group since 7 July 2011
Acted as a director of the Company since 9 May 2017

Other positions in the Group   
Audit Committee — Member  
Remuneration Committee — Member
Nomination Committee — Member
Investment and Budget Management Committee —  Member

Qualifications  
Engineering — University of Science and Technology Beijing, Bachelor’s degree
Law — Arizona State University, United States, Juris doctoral degree
 
Other major offices 
China Power International Development Limited (HKEx: 2380) — Independent non-executive director
Guangdong Guanhao High-tech Co., Ltd (SSEC: 600433) — Director
 
Past offices  
 
Goldman Sachs (Asia) L.L.C. — Executive director   
Davis Polk & Wardwell LLP, United States — Lawyer   
Beijing Soft Rock Investment Group (SZSE: 000609, formerly known as Beijing Mainstreets Investment Group Corporation) — Director (resigned in 2016)
 
Other information  
 
Extensive experience in business  management and corporate finance

Mr. Wong Kwok Tai -

Born in 1938

Joined the Company as a director since 27 September 2004
 
Other positions in the Group   
Audit Committee — Member
Remuneration Committee — Member  
Nomination Committee — Member  

Qualifications
Certified Public Accountant (Practising)

Other major offices
W. Wong CPA Limited — Director
Winshine Science Company Limited (HKEx: 209, formerly known as Winshine Entertainment & Media Holding Company Limited) — Independent non- executive director
 
Past offices
China Solar Energy Holdings Limited (HKEx: 155) — Director (resigned in 2015)
Skyway Securities Group Limited (HKEx: 1141, formerly known as Mission Capital Holdings Limited) — Independent non-executive director (resigned in 2015)
Takson Holdings Limited (HKEx: 918) — Independent non-executive director (resigned in 2016)
 
Other information

Extensive experience in the audit and finance areas in different industries

Ms. Ng Yi Kum -

Born in 1957

Joined the Company as a director since 28 June 2013

Designated as an independent non-executive director of the Company in May 2017
 
Other positions in the Group   
Audit Committee — Member  

Remuneration Committee — Member  

Nomination Committee — Member 

China Power New Energy Development Company Limited (a wholly-owned subsidiary of the Company) — Director

Qualifications   
The Institute of Chartered Accountants in England and Wales — Fellow

The Institute of Chartered Secretaries and Administrators — Associate

Association of Chartered Certified Accountants — Fellow

Hong Kong Institute of Certified Public Accountants — Fellow

American Institute of Certified Public Accountants — Member

Master of Business Administration (MBA) — The Hong Kong University of Science and Technology, Master’s degree
 
Other major offices 
CT Vision (International) Holdings Limited. (HKEx: 994) — Independent Non-executive Director (since July 2019)

Comba Telecom System Holdings Limited (HKEx: 2342) — Independent Non-executive Director (since March 2019)

Tianjin Development Holdings Limited (HKEx: 882) — Independent Non-executive Director (since July 2010)

Tse Sui Luen Jewellery (International) Limited (HKEx: 417) — Chief Strategy Officer & Chief Financial Officer(since July 2015); Company Secretary (since August 2015); Executive Director and Deputy Chairman (since
December 2015)
 
Past offices   
Hong Kong Resources Holdings Company Limited (HKEx: 2882) —  Independent Non-Executive Director(resigned on 31 July 2015)

China Mobile Games and Entertainment Group Limited (delisted from the NASDAQ in the United States on 10 August 2015, stock code: CMGE) — Independent Director (resigned on the delisting date of the company)

DS Healthcare Group, Inc. (delisted from the NASDAQ in the United States on 23 December 2016, stock code: DSKX) — Independent Director (resigned on 16 May 2017)

Mr. Chen Xuezhi - Chief Financial Officer

Born in 1968

Joined the Company since 2009

Other positions in the Group
China Power International New Energy Holding Limited (an indirect wholly-owned subsidiary of the Company) — Deputy general manager; Financial controller
Directors of various subsidiaries of the Group   

Qualifications   
Senior Accountant
Accounting — Fuzhou University , Bachelor's degree 
Business Administration — Capital University of Economics  and  Business, Postgraduate
 
Past offices
China Power International Holding Limited (the holding company of China Power New Energy Limited, a substantial shareholder of the Company) — Deputy general manager (department of finance and asset management)
China Power International Development Limited (HKEx: 2380) — Deputy general manager (department of finance and asset management)

Mr. Fung Chun Nam -

Born in 1975

Joined the Company since 2009

Qualifications
Association of Chartered Certified Accountants — Fellow
Hong Kong Institute of Certified Public Accountants — Fellow
Chartered Financial Analyst

Other information 
Extensive experience in company secretarial, accounting and audit areas in various industries

+ More Board of Directors
Articles of Association
 
List of Directors and their Role and Function

The members of the Board of Directors (“Board”) of China Power Clean Energy Development
Company Limited are set out below.

Executive Directors

Mr. He Hongxin (Vice Chairman/ Chief Executive Officer)
Mr. He Lianhui
Mr. Sun Guigen
Mr. Qi Tengyun

Non-executive Directors

Mr. Tian Jun (Chairman)
Mr. Zhou Jiong

Independent Non-executive Directors

Mr. Chu Kar Wing
Dr. Li Fang
Mr. Wong Kwok Tai
Ms. Ng Yi Kum

     .  

The Board has set up four committees, namely Audit Committee, Remuneration Committee,
Nomination Committee and Investment and Budget Management Committee. The table below
provides membership information of these committees on which each Board member serves.

Committee/
Director
Audit Committee Remuneration Committee Nomination Committee Investment
and Budget Management Committee
Mr. Tian Jun
- - Chairman -
Mr. He Hongxin
- - - Member
Mr. He Lianhui
- - - -
Mr. Sun Guigen
- - - Chairman
Mr. Qi Tengyun
- - - -
Mr. Zhou Jiong
- - - -
Mr. Chu Kar Wing
Chairman Chairman Member -
Dr. Li Fang
Member Member Member Member
Mr. Wong Kwok Tai
Member Member Member -
Ms. Ng Yi Kum
Member Member Member -

 
Investment and Budget Management Committee

Composition

The Investment and Budget Management Committee comprises a total of 8 members, including 3 directors of the Company and 5 senior staffs of the Group. The 3 directors are: Mr. Sun Guigen (Chairman), Mr. He Hongxin and Dr. Li Fang; and the 4 senior staffs are: Mr. Bai Jinchang, Mr. Tian Jiandong, Mr. Chai Mao, and Mr. Chen Xuezhi.

Function

The Investment and Budget Management Committee is under the direct authority of the Board to increase the efficiency of investment and budgeting decisions. It reviews the execution of the Company’s investment and budgeting strategies, and discusses and considers the recommendations on investment and budgeting related matters of the Company.
 

 
Remuneration Committee

Composition

The Remuneration Committee comprises all 4 independent non-executive directors of theCompany, namely Mr. Chu Kar Wing (Chairman),Dr. Li Fang, Mr. Wong Kwok Tai and Ms. Ng YiKum.

Function

The principal responsibilities of the Remuneration Committee include reviewing and making recommendations to the Board on the Company’s remuneration policy and structure and the remuneration packages of directors and senior management (i.e. the model described in the code provision B.1.2(c)(ii) of the CG Code is adopted). The Remuneration Committee is also responsible for establishing transparent procedures for developing such remuneration policy and structure to ensure that no director or any of his/her associates will participate in deciding his/her own remuneration, which remuneration will be determined by the Board with reference to the performance of the individual and the Company as well as the market practice and conditions.
 

 
Nomination Committee

Composition

The Nomination Committee comprises a total of 5 members, being 1 non-executive director: Mr. Tian Jun (Chairman), and the 4 independent non-executive directors: Mr. Chu Kar Wing, Dr.  Li Fang, Mr. Wong Kwok Tai and Ms. Ng Yi Kum. The majority of the committee members are independent non-executive directors.

Function

The principal responsibilities of the Nomination Committee include reviewing the structure, size and composition (including the skills, knowledge and experience) of the Board on a regular basis and recommending any changes to the Board; identifying qualified and suitable individuals to become Board members and selecting and/or making recommendations to the Board on the selection of individuals nominated for directorships; assessing the independence of independent non-executive directors; and making recommendations to the Board on relevant matters relating to the
appointment or re-appointment of directors and succession planning for directors, in particular the Chairman and the Chief Executive Officer of the Company.

In selecting suitable candidates for directorships of the Company, the Nomination Committee may make reference to certain criteria such as the Company’s needs, the integrity, experience, skills and professional knowledge of the candidate, and the amount of time and effort that the candidate will devote to discharge his/her duties and responsibilities. External recruitment professionals might be engaged to carry out selection process when necessary.
 

 
Audit Committee

Composition

The Audit Committee comprises all 4 independent non-executive directors of the Company, namely Mr. Chu Kar Wing(Chairman), Dr. Li Fang, Mr. Wong Kwok Tai and Ms. Ng Yi Kum. In which 2 of the members, Mr. Wong Kwok Tai and Ms. Ng Yi Kum, possess the appropriate accounting and financial management expertise as required under Rule 3.10(2) of the Listing Rules. None of the members of the Audit Committee is a former partner of the Company’s existing external auditor.

Function

The main duties of the Audit Committee are reviewing the financial information and reports of the Group and considering any significant or unusual items raised by the financial officers of the Group or external auditor before submission to the Board; reviewing the relationship with and the terms of appointment of the external auditor and making the relevant recommendation to the Board; and reviewing
 

 
Shareholders' Guide

Coming Soon

 

 
Shareholders’ Communication Policy
 
Procedures for Shareholders to Nominate A Person to Stand for Election as A Director
 

UPCOMING EVENT

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WEBSITE

www.cpne.com.hk

COMPANY INFORMATION

Listed Date 04 Nov 1999

Address Room 01-05,38/F,
China Resources Building,
No. 26 Harbour Road,
Wanchai, Hong Kong

Telephone (852) 3607-8888

Facsimile (852) 3607-8899

Email ir@cpne.com.hk

No. of Click Rate

332256