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EAST Ranked 18th among the Top 100 New Energy Enterprises in Global Competitiveness
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Recently, the Global Competitiveness Report of Energy Enterprises 2017 compiled by Center for International Energy and Environment Studies (CIEESS) of Renmin University of China and International Energy Research Institute of International Cooperation Center under National Development and Reform Commission was released. EAST Group Co. Ltd. of Dongguan origin was on the list of the Report, ranking 18th among the top 100 new energy enterprises in terms of global competitiveness. Apart from that, the 2017 performance forecast unveiled by EAST, the net profit of the company in 2017 was expected to grow by 30%-60%.

Ranking 18th among the top 100 new energy enterprises in terms of global competitiveness

The Global Competitiveness Report of Energy Enterprises 2017 evaluates the global competitiveness of the enterprises based on 5 dimensions (scale, efficiency, growth, security, R&D). The conclusion of the research indicates that, on the ranking of the “top 500 energy enterprises in terms of global competitiveness”, the US has the most enterprises on the list, registering 131; then comes China, with 101 enterprises on the list.

There are 64 Chinese enterprises on the ranking of the “top 100 new energy enterprises in terms of global competitiveness”, among which 57 enterprises are from the Chinese mainland, boasting overwhelming advantage in global market. Dongguan’s EAST ranked 18th on the top 100 list with a high score of 493.02.

EAST enjoys distinctive advantage in the competition of global new energy. It is a supplier of solutions for global electric power quality and green energy manufacturer. It is committed to such strategic emerging industrial areas as smart city, big data, smart energy and rail transit, as well as to the research and development, manufacturing, and integrated services. Its clients cover over 100 countries and regions from around the world.

Since recent years, the smart energy business of EAST has been developing rapidly with its development in sectors such as photovoltaic power, charging pile, energy storage, and intelligent grid. It has engaged in many major photovoltaic power projects inside and outside China, including Asia’s largest floating photovoltaic power station in Hebei Province, Huanghe Hydropower's Golmud Solar Park in Qinghai Province, photovoltaic power station in Germany, and photovoltaic power station in the Republic of Mali in Africa.

 

He Simo, Chairman of EAST, expressed that EAST has been focusing on independent R&D and constant innovation, closely following the Belt and Road Initiative, and actively exploring the international market, so as to realize its global strategy. The presence of EAST on the list among the top new energy enterprises in terms of global competitiveness is closely associated with its consistent dedication to the R&D of technology in certain areas and continuing investment in innovation. EAST is now embracing its harvest with the innovation seeds it has sowed throughout the years.

Both domestic and overseas businesses maintain constant growth

On the stage of global market, EAST’s emergence on the list of the top 100 new energy enterprises is also attributable to its rapid development and sound returns over the past year. According to the 2017 performance forecast unveiled by EAST on the evening of January 27, the company anticipated that the net profit going to the shareholders of the listed company would reach around RMB 613.1385 million to 754.632 million, a year-on-year growth of 30% to 60%.

EAST explained that the progress in its performance lies in the company’s constant development, improved marketing channels, and active engagement in domestic and overseas markets. The company’s domestic and international businesses both witnessed continuing growth during the Report.  

With a history of 28 years, EAST has been seeking technology breakthrough and accumulating experience through its cooperation with high-quality IDC data center projects such as China Mobile, China Telecom, State Administration of Press, Publication, Radio, Film and Television, Baidu, and Tencent. EAST enjoys prominent competitive advantages in high-end power supply equipment, smart city, and IDC data center businesses, making it grow quickly. The photovoltaic power station, which was the result of EAST’s visionary investment, has been supplying grid-tie electricity during Report evaluation, and has contributed to the company’s performance with considerable growth in photovoltaic power revenue in 2017.

In addition, the company’s electricity supply for charging pile and rail transit realized substantial breakthrough due to the gradual rally of charging pile market and the acceleration and expansion of urban rail transit transport engineering projects, which lays a solid foundation for greater growth of EAST’s similar businesses. EAST is also passionately carrying out photovoltaic poverty alleviation project, and its photovoltaic integrated product sales also maintained steady growth during Report evaluation. Moreover, EAST’s energy storage business is also forming a new source of profit growth.

 

Source: timedg.com


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