China Energine

China Energine International (Holdings)
Formerly
 CASIL Telecommunications Holdings
public
Traded as SEHK: 1185
Industry Energy
Products wind power plant
Services electricity supply
Owner
  • Chinese Government
  • (via SASC)
(60.64%)
Parent
Astrotech Group(direct)
CALT(intermediate)
SASC(intermediate)
The SASAC(intermediate)
The State Council(ultimate)
Subsidiaries
  • Castel
Website energine.hk
China Energine International (Holdings) Limited
Traditional Chinese 中國航天萬源國際（集團）有限公司
Literal meaning China Aerospace 10,000 Source International (Group) Co., Ltd.
China Energine
Traditional Chinese 中國航天萬源
Literal meaning China Aerospace 10,000 Source
Second alternative Chinese name
Traditional Chinese 萬源國際
Literal meaning 10,000 Source International

China Energine International (Holdings) Limited known as China Energine is a Cayman Islands-incorporated holding company based in Hong Kong. The controlling shareholder was Chinese state-owned mega-conglomerate China Aerospace Science and Technology Corporation (CASC). The company was formerly known as CASIL Telecommunications Holdings Limited; CASIL was an acronym of China Aerospace International Holdings Limited, a listed subsidiary of CASC.

Both China Energine and CASIL were red chip companies.[1] China Energine became a listed company on 11 August 1997.[1] On 30 June 2016, it had a market capitalization of HK$2.752 billion.[1]

History

CASIL Telecommunications Holdings Limited (Chinese: 航天科技通訊有限公司, "CASIL Telecom" or "Castel" in short) was spin-off from China Aerospace International Holdings Limited (CASIL) in 1997. CASIL was a subsidiary of China Aerospace Science and Technology Corporation (CASC). As of 31 December 2007, CASC, via a BVI company "Astrotech Group Limited", a subsidiary China Academy of Launch Vehicle Technology, owned 73.10% shares.[2] In 2008, the wind power business was injected to the listed company, as well as renaming the company to China Energine International (Holdings) Limited. The brand Castel was retained by the Hong Kong-incorporated subsidiary "China Aerospace Telecommunications Limited" (Chinese: 中國航天科技通信有限公司).

The company had caused a controversy by not removing Au-yeung Keung as the company secretary (a position in a listed company that was regulated) in 2016, despite his accountancy registration has been suspended for three years in 2016.[3]

Name

The English name, Energine, was a phase that combined energy and engine; the Chinese name (Chinese: 萬源), combined the Chinese character 10,000 (Chinese: 萬) and [energy] source (Chinese: 源).

The slogan of the company was "from engine to new energy".[4]

Shareholders

As of 31 December 2016, China Energine major shareholder was Astrotech Group Limited for 60.64%, which was a subsidiary of China Academy of Launch Vehicle Technology, in turn a wholly owned subsidiary of China Aerospace Science and Technology Corporation, in turn a wholly owned subsidiary of the State-owned Assets Supervision and Administration Commission of the State Council. As the company was incorporated outside mainland China but controlled by the Chinese Government, the company is a red chip company.[1]

See also

References

  1. 1 2 3 4 "中資紅籌股公司名單 (主板)" (in Chinese). Hong Kong Stock Exchange. 30 June 2017. Retrieved 19 July 2017.
  2. ↑ "2007 Annual Report" (PDF). CASIL Telecom. Hong Kong Stock Exchange. 17 April 2008. Retrieved 25 July 2017.
  3. ↑ "Why does HKSE stay mum on Energine's choice of company secretary?". South China Morning Post. 4 November 2016. Retrieved 25 July 2017.
  4. ↑ "2016 Annual Report" (PDF). China Energine. Hong Kong Stock Exchange. 28 April 2017. Retrieved 25 July 2017.
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