News blog

China New Energy Ltd

  • BY: Andrew Hore |
  • POSTED: 04/09/2011 |

Bioenergy technology supplier China New Energy Ltd secured RMB168m of orders in the first half of 2011.

Most of those orders should be recognised in revenues in the second half. They include a major contract in Thailand for a cassava-based ethanol project.

First half revenues rose 55% to RMB49.2m. A reduction in costs helped China New Energy swing from a loss of RMB854,000 to a profit of RMB1.3m, even after one-off finance charges of RMB1m. The business was strongly cash generative in the period even though it is spending more on R&D.

Net cash was RMB8.2m at the end of June 2011, although that excludes RMB46.9m of convertible bonds. China New Energy raised just over £600,000 at 7p a share when it joined Aim in May but there was only £60,000 left after the expenses of the flotation. 

At 6.75p a share, China New Energy is valued at £20m. 

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds