Annual Financial Report
China CDM Exchange Centre Limited
Final results for the year ended 31 December 2011
Chairman's Statement
The Company operates within the framework of the Clean Development Mechanism
("CDM") of the Kyoto Protocol, established under the auspices of the United
Nations Framework Convention on Climate Change. The Protocol commits countries
to reducing their emissions of Green House Gasses ("GHGs") by pre-determined
amounts or compensates for maintained or higher GHGs emissions via emissions
trading.
Due to the global economic downturn, the Year 2011 was an undoubtedly a tough
year in the CDM Market. However, CDM, as an environment-friendly industry, will
gain its upward momentum after the global economy returns to its development
orbit. During the year, the company realized its stable development benefiting
from the excellent internal resources support. Based upon the conservative
consideration, the Company took an expectant attitude to the contract renewal
between CCEC and BCIH, which will be clear in the following year.
I would like to extend my sincere thanks to the management and staff of the
Company for performing the tasks with zeal, vision and dedication and as well
as to our partners for their effective and efficient cooperation.
Outlook for 2012
In 2012, the company will develop the business focusing on the following areas:
1. To establish the Company's role as market leader in the CDM Industry at
home and abroad and maintain the Company's competitive advantages in new
energy fields. Based upon pushing forward the projects available, the
Company will actively develop new projects and maintain a close
relationship with the project owners so as to make the projects run
effectively and efficiently.
2. Based upon the clear awareness about the company development, continuously
expanding the investing fields and maintaining the enterprise diversified
development.
3. To strengthen management regulation, improve company's management level and
enroll high-quality talents.
……………………………
Mr.Kang Zheng
Chairman
Enquiries:
China CDM Exchange Centre Limited +86 010
87246056end_of_the_skype_highlighting
Jeanne_0618@yahoo.com.cn
PLUS Advisor: 020 7251 3762
Alfred Henry Corporate Finance Ltd
www.alfredhenry.com
Jon Isaacs/Nick Michaels
The Directors accept responsibility for this announcement.
CHINA CDM EXCHANGE CENTRE LIMITED
INCOME STATEMENTS
Notes 1/1/2011-12/31/2011 1/1/2010-12/31/2010
RMB GBP RMB GBP
Revenue 3 83,751,194.70 8,024,604.74
Cost of sales (7,591,192.00) (781,662.34) (8,321,330.27) (797,306.67)
Gross profit (7,591,192.00) (781,662.34) 75,429,864.43 7,227,298.06
Selling (11,157,415.35) (1,069,045.62)
expense
Administration (1,831,070.55) (188,544.68) (1,932,078.34) (185,121.72)
expenses
Profit from 4 (9,422,262.55) (970,207.02) 62,340,370.74 5,973,130.72
operations
Foreign (726,335.25) (74,790.48) (1,095,079.36) (104,924.82)
exchange gains
Profit before (10,148,597.80) (1,044,997.50) 61,245,291.38 5,868,205.90
income tax
The accompanying notes form an integral part of these financial statements.
Average exchange rate:（2011）RMB/GBP：10.3639; (2010) RMB/GBP: 10.4368
CHINA CDM EXCHANGE CENTRE LIMITED
BALANCE SHEETS
Note 12/31/2011 12/31/2010
RMB GBP RMB GBP
Non-current assets
Property Plant and 5 221,624.71 22,820.62 337,547.43 33,033.94
Equipment
Long term investment 6 372,042,500.00 38,309,083.93 372,042,500.00 36,409,788.02
Intangible assets 7 126,280,000.10 13,003,006.72 144,320,000.06 14,123,818.29
Total non-current assets 498,544,124.81 51,334,911.27 516,700,047.49 50,566,640.65
Current Assets
Trade receivable 8 68,121,055.03 7,014,400.82 68,121,050.03 6,666,639.43
Other receivables
Cash and cash 9 3,580,668.49 368,700.22 13,613,343.57 1,332,264.35
equivalents
Financial assets at fair
value through profit or
loss
Total current assets 71,701,723.52 7,383,101.04 81,734,398.60 7,998,903.78
Total assets 570,245,848.33 58,718,012.31 598,434,446.09 58,565,544.43
Capital and Reserves
Share capital 10 221,999,000.00 5,020,515.41 221,999,000.00 15,020,151.41
Capital surplus 127,344,345.66 13,112,602.01 145,384,345.62 15,503,673.20
Foreign currency 11,557,814.94 7,995,841.38
translation difference
Total shareholder's 570,245,848.33 58,718,012.31 598,434,446.09 58,565,544.43
equity
Total liabilities and 570,245,848.33 58,718,012.31 598,434,446.09 58,565,544.43
shareholder's equity
The accompanying notes form an integral part of these financial statements.
Exchange rate:（31 Dec., 2011）RMB/GBP：9.7116; (31 Dec., 2010) RMB/GBP: 10.2182
CHINA CDM EXCHANGE CENTRE LIMITED
CASHFLOW STATEMENTS
Note 12/31/2011 12/31/2010
RMB GBP RMB GBP
Cashflows from operating
activities
Cashflows from operating 11 (9,306,339.83) (897,957.32) 2,874,442.30 359,216.80
operations:
Net cash generated from 2,874,442.30 359,216.80
operating activities
Cashflows from investing
activities
Cash payment for
investment
Other investment
Net cash used in
investing activities
Cashflows from financing
activities
Proceeds from issuance
of ordinary shares
Net cash used in
financing activities
Gains on foreign (726,335.25) (70,083.20) (1,095,079.36) (104,924.82)
transactions
Net (decrease)/increase 10,032,675.08 968,040.51 1,779,362.94 254,291.98
in cash and bank balance
Cash and bank balance at 13,613,343.57 1,313,534.82 11,833,980.63 1,077,972.37
the beginning of year
Cash and bank balance at 3,580,668.49 345,494.31 13,613,343.57 1,332,264.35
the end of year
The accompanying notes form an integral part of these financial statements.
Average exchange rate:（2011）RMB/GBP：10.3639; (2010) RMB/GBP: 10.4368
Details of the adjusted earnings per share are set out below:
2011 2010
Basic EPS (GBP) -0.009 0.05
Earnings attributable to ordinary shareholders (1,044,997.50) 5,868,205.90
(GBP)
Weighted average number of shares 117,000,000 117,000,000
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