In the afternoon of June 30th 2014, the IPO launch meeting of the Company was held in the meeting room of head office. The meeting was chaired by Guotai Junan Securities. Mr. Chen Gonghai, Company chairman, Mr. Chen Hongzhang, President, Mr. Han Xu, Director & Executive vice president, Xin Jing from General Manager Office attended the meeting. And meanwhile, the investors, Chengtou Share Holding and Leading Capital as well as the project personnel from Ruihua Certified Public Accountants and Junhe Law Office were invited.
At the meeting, President Mr. Chen Hongzhang presented a brief review on the development history of the Company, including business mode, company business and financial status, industrial competition and industrial policy, etc and he has also forecasted the development in the future three years. After that, Mr. Luo from Guotai Junan provided an explanation and summary of the listing procedure and time arrangement. He organized the attendees to undertake the deep analysis and discussion on the key events, including business mode, public offering projects, horizontal competition, revenue recognition, etc and provided the solutions and suggestions on respective issues in terms of IPO listing. Then, Ruihua Certified Public Accountants gave the suggestion on financial management in terms of 2013 audit report and Junhe Law Office gave the prompt on the standardization of company operation in terms of legal compliance.
Chairman Mr Chen Gonghai consider, the business positioning of New Power is comprehensive utilization of landfill gas, including landfill gas-to-energy, combined heat and power generation and refined natural gas, this is the road that New Power will stick to. Waste landfilling utilization industry is an emerging industry, which has a broad market. The final objective of the Company is becoming bigger and stronger, whether merger or IPO, is to realize the strategic target of the Company. Chen Gonghai made the conclusion in the end that only having the courage to break through and be bold in innovation can make us become the leader of industry development and constitutor of business mode.
The meeting marks the officially launch of IPO listing of New Power and meanwhile IPO project group is set up. In accordance with the preliminary estimate, the counseling of IPO listing will be completed in June 2015 and the application material will be submitted to China Securities Regulatory Commission and waiting for review; it will enter the public listing stage in March 2016. At the meeting, all personnel from each parties stated they will make concerted effort, work tenaciously to strive for to achieve IPO listing of the Company as earlier as possible. Xin Jing from General Manager Office)