Ruifeng Power Group Company Limited
瑞 豐 動 力 集 團 有 限 公 司
(Incorporated in Cayman Islands with limited liability) Stock code : 2025
2021
INTERIM REPORT
CONTENTS | |
Page | |
Corporate Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2 |
Company Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4 |
Financial Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5 |
Management Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7 |
Consolidated Statements of | |
Profit or Loss and Other Comprehensive Income. . . . . . . . . . . . . . . . . . . . . . | 22 |
Consolidated Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . | 24 |
Consolidated Statement of Changes in Equity . . . . . . . . . . . . . . . . . . . . . . . . . | 26 |
Condensed Consolidated Cash Flow Statement . . . . . . . . . . . . . . . . . . . . . . . . | 28 |
Notes to the Unaudited Interim Financial Report . . . . . . . . . . . . . . . . . . . . . . . | 29 |
2021 Interim Report 1
CORPORATE INFORMATION DIRECTORS
Executive Directors
Mr. Meng Lianzhou
(Chairman and Chief Executive Officer)
Mr. Liu Zhanwen
Mr. Liu Enwang
Mr. Zhang Yuexuan
Independent Non-Executive Directors
Mr. Wan Ming
(appointed on 30 July 2021) Mr. Ren Keqiang
Mr. Yu Chun Kau
Mr. Wei Anli (resigned on 30 July 2021)
AUDIT COMMITTEE
Mr. Yu Chun Kau (Chairman)
Mr. Wan Ming
(appointed on 30 July 2021)
Mr. Ren Keqiang
NOMINATION COMMITTEE
Mr. Wan Ming (Chairman)
(appointed on 30 July 2021)
Mr. Meng Lianzhou
Mr. Yu Chun Kau
REMUNERATION COMMITTEE
Mr. Ren Keqiang (Chairman)
Mr. Meng Lianzhou
Mr. Yu Chun Kau
COMPANY SECRETARY
Mr. Wong Ka Wai
AUTHORISED REPRESENTATIVES
(for the purpose of the Listing Rules) Mr. Meng Lianzhou
Mr. Wong Ka Wai
LEGAL ADVISORS
As to Hong Kong Law: Chiu & Partners 40/F, Jardine House 1 Connaught Place Central
Hong Kong
AUDITOR
KPMG
PRINCIPAL BANKERS
China Construction Bank Shenzhou Branch
Industrial Commercial Bank of China
Shenzhou Branch
REGISTERED OFFICE
Cricket Square
Hutchins Drive
P.O. Box 2681
Grand Cayman
KY1-1111
Cayman Islands
HEADQUARTER AND PRINCIPAL PLACE OF BUSINESS IN PRC
Middle of East Taishan Road
Shenzhou
Hebei Province
PRC
PRINCIPAL PLACE OF BUSINESS IN HONG KONG
Room 619A, 6/F, Block B New Mandarin Plaza
14 Science Museum Road Tsim Sha Tsui
Hong Kong
2 Ruifeng Power Group Company Limited
PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE
Conyers Trust Company (Cayman) Limited
Cricket Square
Hutchins Drive
P.O. Box 2681
Grand Cayman
KY1-1111
Cayman Islands
HONG KONG SHARE REGISTRAR BRANCH
Tricor Investor Services Limited
Level 54, Hopewell Centre
183 Queen's Road East
Hong Kong
STOCK CODE
2025
WEBSITE
www.hbsgt.com
2021 Interim Report 3
COMPANY OVERVIEW
Ruifeng Power Group Company Limited (the "Company" and, together with its subsidiaries, the "Group") is a specialized manufacturer of cylinder blocks, a major structure in automobile engines, based in Shenzhou, Hebei Province, the PRC.
Production of cylinder blocks in China has historically been split between internal production by manufacturers of automobiles and automobile engines and external outsourcing to specialized producers of automobile engine spare parts. The large-scale of our operations and significant production capacity allow us to secure the use of our products by some of the leading automobile manufacturers in China such as Jiangling Motors, Beiqi Foton Motor, Jiangxi Isuzu, JAC Motors and Great Wall Motors. During the six months ended 30 June 2021, we owned and operated a total of 3 precision casting lines and 24 mechanical processing lines (including 17 for cylinder blocks, 5 for cylinder heads and 2 for other ancillary cylinder block components).
THE MAIN PRODUCTS ARE:
Cylinder Block - A main structure of the automobile engine in which combustion of fuel takes place. It provides space for the required number of cylinders along with the associated surrounding structures, including coolant passages, intake and exhaust passages and crankcases. As a central component of an automobile engine, defect acceptance levels for cylinder blocks need to be very low as it directly affects the engine performance, life and other important indicators.
Cylinder Head - A major component of the engine which sits on top of the cylinder block and provides space for passages that feed air and fuel into a cylinder and allow the exhaust to escape. A cylinder head has to withstand high pressure and high temperatures while retaining its shape and form to seal the cylinder block via the head gasket.
Ancillary Cylinder Block Components - including main bearing cap and flywheel. Main bearing caps are used in piston engines to secure the crankshaft against the cylinder block. Our main bearing caps help prevent the forces created by the piston and transmitted to the crankshaft by forcing the crank to convert the reciprocating movement into rotation. A flywheel is designed to keep the crankshaft in the cylinder block turning smoothly during the periods when no power is being applied. Our flywheels are easy to install and highly resistant to rust and corrosion.
We believes that the following competitive strengths of the Group can bring our customers the most economical and reliable products:
- The specialized manufacturer of cylinder blocks and an established producer of cylinder heads in China
- A high level of flexibility in production facilities and process to meet the specific needs of different customers
- Continuous optimization and innovation of production process and technologies
- Strong design and research and development capabilities
4 Ruifeng Power Group Company Limited
Attachments
- Original document
- Permalink
Disclaimer
Ruifeng Power Group Company Ltd. published this content on 20 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 11:31:10 UTC.