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.