Hangzhou Zhongheng Electric Co., Ltd.



Quote for Hangzhou Zhongheng Electric Co., Ltd.

Last Trade:
-
Change:
--
Symbol/Code:
002364
Status:
-
Stock Type:
A Share
Market Cap:
-
Open:
-
Prev Close:
-
Bid:
-
Ask:
-
Volume(*100):
-
Amount:
-
Limit Up:
-
Limit Down:
-
Day's Range:
-
P/E(ttm):
-
P/B ratio
-
Update:-
Currency in CNY Time=UTC+8002364 quote

Summary for Hangzhou Zhongheng Electric Co., Ltd.

HANGZHOU ZHONGHENG ELECTRIC Co., Ltd. is principally engaged in the research, development, production and distribution of high frequency switch power supply systems and related services. The Company's major products include high frequency switch rectifying modules for power use, direct current/alternating current converting modules for power use, module controllers, system monitors, power operation supplies, high frequency switch power supplies for communication use, power automatic series equipment, as well as alternating current and direct current distribution boards, among others. The Company's products are mainly applied in communications, electric power, metallurgy and transportation areas.

Profile for Hangzhou Zhongheng Electric Co., Ltd.

Full Name:Hangzhou Zhongheng Electric Co., Ltd.
Full Name in Chinese:杭州中恒电气股份有限公司 Short Name in Chinese:中恒电气
Symbol/Stock Code:
002364
Listed in:
Shenzhen Stock Exchange
Issued Capital
-
Negotiable Capital:
-
Chairman:
Zhu Guoding
Secretary of the Board:
Chen Zhiyun
Phone:
+86-571-86699838
Fax:
+86-571-86699755
Official Website:www.hzzh.com
E-mail:zhengquan@hzzh.com
Address:No.69,Zhijiang Science and Technolog,HANGZHOU ZHJ 310053
IPO Subscription Date:
2010-02-22
Listing Date:
2010-03-05
IPO Issued Capital:
16800000
IPO Price:
22.35 CNY
IPO fees:
28516400 CNY
Money Raised by IPO:
375480000 CNY
IPO Par Value:
1.00 CNY
Net Money Raised:
346963600 CNY
Open(Listing day):
42.00 CNY
Close(Listing day):
48.40 CNY
Diluted P/E ratio after IPO:
37.2500
Turnover rate(listing day):
89.44%

Financials for Hangzhou Zhongheng Electric Co., Ltd.

UPDATE:2012-10-24 Annual Report Abstract:(All Currency In CNY)

Indicators/Till The Date
2012-09-30
2011-12-31
2010-12-31
2009-12-31
Net Profit(after tax)(Million)
31.5489
47.8117
35.4957
41.0769
Net Profit Growth(%)
1.49
34.69
-13.58
28.66
Return On Equity(ROE)(%)
4.95
8.02
6.32
21.77
Debt ratio(%)
8.55
13.67
11.92
37.76
Net Operating Cash Flow/Net Profit(%)
-177.43
97.41
54.44
-26.18

Per Share Financial Data:(All Currency In CNY)

Per Share Indicators/Till The Date
2012-09-30
2011-12-31
2010-12-31
2009-12-31
Earnings Per Share(EPS)
0.3100
0.4800
0.3900
0.8200
Diluted Earnings Per Share
0.0000
0.4300
0.3700
0.8100
Net Asset Value Per Share (NAVPS)
6.1800
5.9500
8.4100
3.7700
Additional Paid-In Capital Per Share
3.1240
3.0006
5.0009
0.0001
Retained Earnings Per Share
1.8128
1.7011
2.1084
2.4451
Net Cash Flow From Operatings Activities Per Share
-0.5400
0.4600
0.2900
-0.2200
Net Cash Flow Per Share
-0.6686
0.3639
4.6400
-0.1400

Balance Sheet:(All Currency In CNY)

Assets And Liabilities/Till The Date
2012-09-30
2011-12-31
2010-12-31
2009-12-31
Total Assets(Million)
696.8112
690.6261
637.7631
303.2518
Total Liabilities(Million)
59.6299
94.4538
76.0425
114.523
Current Liabilities(Million)
59.3499
94.1738
76.0425
114.523
Long Term Liabilities(Million)
-
-
-
-
Cash And Cash Equivalents(Million)
337.956
413.2062
362.9809
55.7803
Accounts Receivables(Million)
167.2064
109.1321
133.5852
116.3005
Deposit Received(Million)
3.8922
6.7956
2.0067
0.651
Other Receivables(Million)
12.3553
5.7532
4.5304
5.0946
Bad Debt Reserve(Million)
-
-
-
-
Shareholder's Equity/Owner's Equity(Million)
637.1814
596.1723
561.7206
188.7288
Debt ratio(%)
8.55
13.67
11.92
37.76
Equity Ratio(%)
91.4400
86.3200
88.0700
62.2300
Current Ratio
10.4892
6.7638
7.8444
2.2913
Quick Ratio
8.9745
5.6872
6.6939
1.5637

Cash Flow Statement:(All Currency In CNY)

Cash Flow/Till The Date
2012-09-30
2011-12-31
2010-12-31
2009-12-31
Cash From Selling Commodities(Million)
202.7093
361.7593
249.4644
276.6693
Net Cash Flow From Operatings Activities(Million)
-55.9783
46.5725
19.3222
-10.7558
Net Cash Flow From Operatings Activities Change(%)
388.68
141.03
-279.64
-179.53
Net Cash Flow(Million)
-68.9557
36.4622
309.9536
-6.9993
Cash From Selling Commodities/Prime Revenue(%)
93.42
127.99
106.93
107.29
Net Cash Flow/Net Profit(%)
-218.57
76.26
873.21
-17.04
Cash Flow From Investing Activities(Million)
-21.2478
-7.7431
-3.469
-4.0002
Cash Flow From Financing Activities(Million)
8.2705
-2.3672
294.1004
7.7567

Income Statement:(All Currency In CNY)

Income Indicators/Till The Date
2012-09-30
2011-12-31
2010-12-31
2009-12-31
Prime Operating Revenue(Million)
216.9893
282.6525
233.2888
257.8636
Prime Operating Profit(Million)
-
-
-
-
Operating Costs(Million)
13.3256
19.4316
17.6356
16.3933
Administrative Costs(Million)
23.0686
28.8791
26.9003
18.111
Financing Costs(Million)
-9.1975
-8.3623
-3.9125
1.7306
Above Three Costs Change(%)
-0.39
-1.66
12.11
14.36
Operating Profit(Million)
38.0856
50.5394
41.2616
47.1464
Income From Investment(Million)
-0.2007
-
-
-
Government Subsidies(Million)
-
-
-
-
Net Non-Operating Income And Expense(Million)
-0.239
5.9528
0.5219
0.7915
Total Profit(Million)
37.8466
56.4922
41.7835
47.9379
Corporate Income Tax(Million)
6.2978
8.6805
6.2878
6.861
Net Profit(Million)
31.5489
47.8117
35.4957
41.0769
Gross Profit Ratio(%)
32.11
32.62
37.22
34.19
Operating Margin(%)
17.55
17.88
17.68
18.28
Return On Equity(ROE)(%)
4.95
8.02
6.32
21.77

Announcements for Hangzhou Zhongheng Electric Co., Ltd.

Date: 2012-08-14
Title: EGM RESOLUTION
The Company held its 2nd Extraordinary General Meeting of 2012 on 13 August 2012, during which the following proposal(s) was/were approved:
1. Profit distribution policy and plan on the shareholders' return for the next three years from 2012 to 2014
2. Amendments to the Company's articles of association
3. Construction of research and development center with partial raised funds
Date: 2012-07-27
Title: EGM-ONLINE
The Company will hold the 2nd Extraordinary General Meeting of 2012 at 09:30 on 13 August 2012.

Meeting agenda:
1 Profit distribution policy and plan on the shareholders' return for the next three years from 2012 to 2014
2 Amendments to the Company's articles of association
3 Construction of research and development center with partial raised funds


Meeting attendees:
1. A-share holders registered at CSDCC Shenzhen after the close of trading on 08 August 2012 are entitled to vote. Original notarized power of attorney for voting is required.
2. Directors of the board, supervisors of the supervisory committee, senior executives and appointed lawyers are entitled to attend the meeting.

Registration period: 10 August 2012

The Company's shareholder may choose to vote online via the trading system of Shenzhen Stock Exchange or via the website of http://wltp.cninfo.com.cn.
Part I Voting via the trading system
Voting date: 13 August 2012
Voting code:362364
Voting abbreviation:Zhongheng Electric voting
Voting process:
1. To input the "buy" instruction to begin voting
2. To input the serial number of the Investors Meeting proposals under the item of "subscription price" "1 share" for voting for, "2 shares" for voting against and "3 shares" for "abstention".

Part II Voting via the internet
Shareholders may choose the CA (certification authority) or service password for identity verification. As to the service password, shareholders may apply for a password on the website http://www.szse.cn or http://wltp.cninfo.com.cn.
Voting period: from 12 August 2012 to 13 August 2012.
Date: 2012-06-05
Title: EGM RESOLUTION
The Company held its 1st Extraordinary General Meeting of 2012 on 04 June 2012, during which the following proposal(s) was/were approved:
1. The Company's eligibility for asset acquisition via share offering and raising matching fund
2. Scheme for asset acquisition via share offering to specific parties and raising matching fund
3. Connected transactions regarding major assets restructuring and asset purchase via share offering
4. Report(draft) on connected transactions regarding asset acquisition via share offering to specific parties and raising matching fund and its summary
5. Compliance with relevant laws and regulations of the Company's restructuring
6. Relevant evaluation report, audit report and profit forecast report
7. To sign conditional agreement on asset acquisition via share offering
8. To sign conditional profit compensation agreement
9. Independence of the evaluation institution, rationality of the evaluation assumptions, correlation of the evaluation methods and the evaluation purpose, and fairness of the evaluated price
10. Statement on the Company's restructuring regarding fulfilling the completeness and compliance of lawful procedure, and the effectiveness of legal document submitted
11. Exemption of Zhu Guoding and his or her concerted parties from tender offer obligation to increase shareholding of the Company
12. Authorization to the board to handle matters in relation to major assets restructuring.
Date: 2012-05-18
Title: EGM-ONLINE
The Company will hold the 1st Extraordinary General Meeting of 2012 at 09:30 on 04 June 2012.

Meeting agenda:
1. The Company's eligibility for asset acquisition via share offering and raising matching fund
2. Scheme for asset acquisition via share offering to specific parties and raising matching fund
3. Connected transactions regarding major assets restructuring and asset purchase via share offering
4. Report(draft) on connected transactions regarding asset acquisition via share offering to specific parties and raising matching fund and its summary
5. Compliance with relevant laws and regulations of the Company's restructuring
6. Relevant evaluation report, audit report and profit forecast report
7. To sign conditional agreement on asset acquisition via share offering
8. To sign conditional profit compensation agreement
9. Independence of the evaluation institution, rationality of the evaluation assumptions, correlation of the evaluation methods and the evaluation purpose, and fairness of the evaluated price
10. Statement on the Company's restructuring regarding fulfilling the completeness and compliance of lawful procedure, and the effectiveness of legal document submitted
11. Exemption of Zhu Guoding and his or her concerted parties from tender offer obligation to increase shareholding of the Company
12. Authorization to the board to handle matters in relation to major assets restructuring

Meeting attendees:
1.A-share holders registered at CSDCC Shenzhen after the close of trading on 29 May 2012 are entitled to vote. Original notarized power of attorney for voting is required.
2. Directors of the board, supervisors of the supervisory committee, senior executives and appointed lawyers are entitled to attend the meeting.

Registration period: 01 June 2012

The Company's shareholder may choose to vote online via the trading system of Shenzhen Stock Exchange or via the website of http://wltp.cninfo.com.cn.
Part I Voting via the trading system
Voting date: 04 June 2012
Voting code:362364
Voting abbreviation:Zhongheng Electric voting
Voting process:
1.To input the "buy" instruction to begin voting
2.To input the serial number of the Investors Meeting proposals under the item of "subscription price" "1 share" for voting for, "2 shares" for voting against and "3 shares" for "abstention".

Part II Voting via the internet
Shareholders may choose the CA (certification authority) or service password for identity verification. As to the service password, shareholders may apply for a password on the website http://www.szse.cn or http://wltp.cninfo.com.cn.
Voting period: from 03 June 2012 to 04 June 2012.
Date: 2012-04-19
Title: TRADING SUSPENSION
Due to matters related to major events, trading of the Company's shares will be suspended as of 19 April 2012 and resumed from 18 May 2012 if the Company fails to apply for postponement of trading resumption within the set time limit.
Date: 2012-04-17
Title: LISTING OF SHARES UNDER INCENTIVE PLAN
Among 2940000 A-shares granted under the Company's incentive plan, 2940000 shares of them will be listed on the Shenzhen Stock Exchange on 18 April 2012.
Date: 2012-03-27
Title: DIVIDEND IMPLEMENTATION (CASH ONLY)
2011 final distribution plan to be implemented (A shares):

1. Cash dividend/10 shares (tax included): CNY1.50000000
2. Bonus issue from profit (share/10 shares): none
3. Bonus issue from capital reserve (share/10 shares): none


Record date: 30 March 2012
Ex-date: 05 April 2012
Payment date: 05 April 2012

10 percent withholding tax on cash dividend will be deducted in CNY within the cash dividend receivable. Please refer to below details:
Tax on cash dividend/10 shares: CNY0.15000000(10 percent x CNY1.50000000)
Net cash dividend/10 shares after tax: CNY1.35000000(CNY1.50000000- CNY0.15000000)
Date: 2012-03-22
Title: AGM RESOLUTION
The Company held its Annual General Meeting of 2011 on 21 March 2012, during which the following proposal(s) was/were approved:
1. 2011 work report of the board of directors
2. 2011 work report of the supervisory committee
3. 2011 financial resolution report
4. 2011 profit distribution preplan
5. 2011 annual report and its summary
6. Special report on the deposit and use of raised funds in 2011
7. 2011 internal control self evaluation report
8. Re-appointment of 2012 audit firm
9. Confirmation of 2011 remuneration for directors, supervisors and senior management
10. Termination of communication base stations operation maintenance value-added project
The detailed profit distribution plan are as follows:
1) Cash dividend/10 shares (tax included): CNY1.50000000
2) Bonus issue from profit (share/10 shares): none
3) Bonus issue from capital reserve (share/10 shares): none.
Date: 2012-02-29
Title: FINAL DIVIDEND
The Company issued its 2011 annual report on 29 February 2012.

The profit distribution proposal for 2011:
1. Cash dividend/10 shares (tax included): CNY1.50000000
2. Bonus issue from profit (share/10 shares):none
3. Bonus issue from capital reserve (share/10 shares):none.
Date: 2012-02-29
Title: AGM-SPOT
The Company will hold the 2011 Annual General Meeting at 09:30 on 21 March 2012.

Meeting agenda:
1. 2011 work report of the board of directors
2. 2011 work report of the supervisory committee
3. 2011 financial resolution report
4. 2011 profit distribution preplan
5. 2011 annual report and its summary
6. Special report on the deposit and use of raised funds in 2011
7. 2011 internal control self evaluation report
8. Re-appointment of 2012 audit firm
9. Confirmation of 2011 remuneration for directors, supervisors and senior management
10. Termination of communication base stations operation maintenance value-added project
The detailed profit distribution plan are as follows:
1) Cash dividend/10 shares (tax included): CNY1.50000000
2) Bonus issue from profit (share/10 shares): none
3) Bonus issue from capital reserve (share/10 shares): none

Meeting attendees:
1. A-share holders registered at CSDCC Shenzhen after the close of trading on 16 March 2012 are entitled to vote. Original notarized power of attorney for voting is required.
2. Directors of the board, supervisors of the supervisory committee, senior executives and appointed lawyers are entitled to attend the meeting.

Registration period: 20 March 2012