Last $0.04 SGD
Change Today +0.001 / 2.86%
Volume 40.0K
REAG On Other Exchanges
Symbol
Exchange
Singapore
As of 9:09 PM 07/22/14 All times are local (Market data is delayed by at least 15 minutes).

renewable energy asia group (REAG) Snapshot

Open
$0.04
Previous Close
$0.04
Day High
$0.04
Day Low
$0.04
52 Week High
07/23/13 - $0.06
52 Week Low
05/26/14 - $0.03
Market Cap
26.8M
Average Volume 10 Days
429.5K
EPS TTM
$-0.05
Shares Outstanding
745.6M
EX-Date
08/1/07
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for RENEWABLE ENERGY ASIA GROUP (REAG)

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renewable energy asia group (REAG) Details

Renewable Energy Asia Group Limited, an investment holding company, is engaged in the investment in and development of renewable energy projects primarily in the People’s Republic of China, Europe, and the United States. The company operates through Manufacturing, and Solar Power and Wind Power Generation segments. The company invests in and operates wind farms, photovoltaic power stations, and solar thermal power stations. It is also involved in the manufacture of wind turbine components and systems, including windmill towers, nacelles, heavy steel parts, and other structural components. In addition, the company offers engineering, procurement, construction, commissioning, and maintenance services for onshore and offshore wind farm installations, as well as the transportation of these installations across land and sea. Further, it provides subcontracting services. Renewable Energy Asia Group Limited has access to 9,300 megawatts (MW) of renewable energy resources comprising 3,400 MW of onshore wind power resources, 3,700 MW of offshore wind power resources, 1,500 MW of photovoltaic resources, and 700 MW of solar thermal resources. The company was formerly known as Superior Fastening Technology Limited and changed its name to Renewable Energy Asia Group Limited in March 2010. The company was founded in 1988 and is based in Singapore. Renewable Energy Asia Group Limited is a subsidiary of Jiaolong Heavy Industries Corporation Limited.

Founded in 1988

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Executives, Board Directors

renewable energy asia group (REAG) Key Developments

Renewable Energy Asia Group Limited Announces Unaudited Consolidated Earnings Results for the Year Ended March 31, 2014

Renewable Energy Asia Group Limited announced unaudited consolidated earnings results for the year ended March 31, 2014. For the year, the company reported revenue of RMB 13,573,000 against RMB 293,000 a year ago. Group revenue increased mainly due to solar energy generation from one of its subsidiaries, Jiuquan which started only in late 2012, therefore only two months of revenue was recognized in fiscal year of 2013 as compared with 12 months of revenue recorded in fiscal year of 2014. Loss before tax was RMB 7,210,000 against RMB 7,724,000 a year ago. Loss for the year from continuing operations was RMB 7,210,000 or 1.0 cents per share against RMB 7,724,000 or 1.1 cents per share a year ago. Profit attributable to owners of the company was RMB 65,297,000 against loss of RMB 56,624,000 a year ago. Net cash used in operating activities was RMB 8,503,000 against RMB 22,991,000 a year ago. The group recorded negative operating cash flow for the year 2014 mainly due to an increase in inventories, trade and other receivables and notes receivables, partially offset by an increase in trade and other payables and bills payables. Purchases of property, plant and equipment was RMB 30,279,000 against RMB 34,239,000 a year ago. Basic and diluted earnings per ordinary share were 8.8 cents against loss per share of 7.9 cents per share a year ago.

Renewable Energy Asia Group Limited, Special/Extraordinary Shareholders Meeting, Mar 31, 2014

Renewable Energy Asia Group Limited, Special/Extraordinary Shareholders Meeting, Mar 31, 2014., at 10:00 Singapore Standard Time. Location: Royal Room 1 (Level 3). Agenda: To consider ratification, confirmation and approval of certain transactions entered into between the Group and each of Oceantec Industries Co. Ltd, Jiangsu Maritime Engineering Services Co., Ltd., Nantong Zhongneng International Trading Co., Ltd. and Nantong Jiaolong Industrial Development Co., Ltd. as past interested person transaction; and to consider proposed disposal of the entire issued and paid-up share capital of Rea Power Pte. Ltd. to Mr. Xu Jian as an interested person transaction.

Renewable Energy Asia Group Limited Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013

Renewable Energy Asia Group Limited announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported revenue of RMB 60,033,000 against RMB 76,448,000 a year ago. Loss before income tax was RMB 18,251,000 against RMB 16,234,000 a year ago. Loss for the period was RMB 18,251,000 or 2.45 cents per share against RMB 16,235,000 or 2.25 cents per share a year ago. Net cash used in operations was RMB 52,369,000 against net cash generated from operations of RMB 29,243,000 a year ago. Purchase of property, plant and equipment was RMB 12,401,000 against RMB 52,811,000 a year ago. The group revenue decreased 21% for the quarter ended December 31, 2013 from the same period last year. This was mainly due to lower business activity in the manufacturing segment arising from a decline in demand for steel structures. The group recorded negative operating cash flow as compared to the positive operating cash flows in third quarter of 2013. This was attributable to an increase in trade and other receivables arising from the increase in staff advances, longer credit terms extended to customers and advances to suppliers. For the nine months, the company reported revenue of RMB 170,329,000 against RMB 246,594,000 a year ago. Loss before income tax was RMB 40,004,000 against RMB 30,513,000 a year ago. Loss for the period was RMB 40,004,000 or 5.44 cents per share against RMB 30,522,000 or 4.42 cents per share a year ago. Net cash used in operations was RMB 89,875,000 against net cash generated from operations of RMB 18,720,000 a year ago. Purchase of property, plant and equipment was RMB 30,835,000 against RMB 96,908,000 a year ago. Net asset value per share as at December 31, 2013 was 9.55 cents. The group revenue fell 31% for the nine months ended December 31, 2013 from the previous corresponding period. This was mainly due to a decrease in the sale of wind turbine structures from the manufacturing segment. Nevertheless, the lower level of manufacturing activity was partially offset by higher revenue from solar power generation, which contributed 6% of the total revenue generated in nine months of 2014. The group recorded negative operating cash flow for nine months of 2014 as compared to positive operating cash flows for nine months of 2013. This was mainly due to increase in inventories and advances to suppliers and non-trade receivables, which was partially offset by an increase in trade and other payables from longer credit terms extended by supplier.

 

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