PDF《Shanghai Qingpu Fire-Fighting》

Shanghai Qingpu Fire-Fighting Equipment Co.

, Ltd. 上海青浦消防器材股份有限公司 Annual Report

2010 年报 * For identification purposes only ANNUAL REPORT

20 10 年报20

10 * 仅供识别 (a joint stock limited company incorporated in the People'

s Republic of China) Stock Code:

8115 ( 於中华人民共和国注册成立的股份有限公司)股份代号:

8115 - - CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ( GEM ) OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE STOCK EXCHANGE ) GEM has been established as a market designed to accommodate companies to which a high investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report. This report, for which the directors of Shanghai Qingpu Fire-Fighting Equipment Co., Ltd. collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to Shanghai Qingpu Fire-Fighting Equipment Co., Ltd. The directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this report misleading. - - CONTENTS Pages Corporate Information

3 Chairman'

s Statement.4 Management Discussion and Analysis.5 Profiles of Directors, Supervisors and Senior Managements

8 Corporate Governance Report

12 Directors'

Report

16 Independent Auditors'

Report

22 Income Statement

24 Statement of Comprehensive Income

25 Statement of Financial Position

26 Statement of Changes in Equity.27 Statement of Cash Flows.28 Notes to the Financial Statements.30 Five Year Financial Summary.78 - - CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Zhou Jin Hui Mr. Zheng Yi Song Mr. Rao Jun Xi Mr. Chen Shi Da Mr. Hu Jing Hai Non-Executive Directors Ms. Chai Xiao Fang Mr. Gong Xu Lin Ms. Wang Xiang Independent Non-Executive Directors Mr. Chen Wen Gui Mr. Wang Guo Zhong Mr. Yang Chun Bao Mr. Zhang Cheng Ying AUDIT COMMITTEE Ms. Chai Xiao Fang Mr. Yang Chun Bao Mr. Zhang Cheng Ying AUTHORISED REPRESENTATIVE Mr. Wong Kwan Pui COMPANY SECRETARY Mr. Wong Kwan Pui AUDITORS Ascenda Cachet CPA Limited PRINCIPAL BANKERS China Construction Bank Huaxin Sub-branch Shanghai Rural Commercial Bank Co., Ltd ? Chonggu branch H SHARE share REGISTRAR AND ? TRANSFER OFFICE Computershare Hong Kong Investor Services Limited 46th Floor, Hopewell Centre

183 Queen'

s Road East Wanchai, Hong Kong REGISTERED OFFICE

1988 Jihe Road Hua Xin Town Qingpu District, Shanghai People'

s Republic of China PRINCIPAL PLACE OF BUSINESS IN ? HONG KONG Unit 2605, Island Place Tower

510 King'

s Road North Point Hong Kong - - CHAIRMAN'

S STATEMENT Results for the year For the year ended

31 December 2010, the Company recorded total revenue of RMB21,362,000 and profit attributable to the shareholders of RMB22,473,000. The Company'

s revenue was derived principally from its sale of fire extinguishers, and fire extinguisher cylinders in the PRC (excluding Hong Kong) and pressure cylinders to overseas. SALES The Company'

s revenue increased by RMB997,000 from RMB20,365,000 in

2009 to RMB21,362,000 in 2010. OUTLOOK The development of the PRC'

s real estate industry remains stable under the influence of the Chinese traditional idea of purchasing housing. In addition, various regions in the PRC have seen fires accidents, heightening public'

s awareness towards fire prevention. The enforcement of State policies and strict fire regulations also lift the demand for fire prevention products and fire fighting systems, indicating a prosperous prospect. Hence, the Company endeavours to develop products of different models and expand customer resources in order to increase the markets share of fire safety and fire fighting systems. FUTURE PLAN The Company plans to recruit industry and management talents to cement internal management, integrate production lines to develop new products, strengthen operating efficiency and lower production costs. The Company will develop various business channels to improve the Company'

s performance, focusing on the development of domestic operating networks and export agents. The Company will also expand customer resources to expand production, sharpening its competitive edge and utilization of facilities. LONG TERM STRATEGY We believe that we, with our experienced management team, firm and clear development directions, the manufacturing of quality products and the provision of quality services, will be able to sharpen our competitive edge. If suitable opportunities arise, the Company will prudently consider using channels that increase capital legally to acquire relevant enterprises which possess sound profitability in order to accelerate the growth of our profitability so that the Company will become a major enterprise in the manufacturing and sale of fire-fighting equipment and relevant business in the PRC and overseas. Our People The Company will further optimize its staff structure. The Board would like to express gratitude to the employees of the Company for their invaluable contribution to the business. Directors My thanks go to the Directors for their professional work. The Board will endeavour to work professionally and painstakingly for achieving prosperous performance of the Company in the future. - - MANAGEMENT DISCUSSION AND ANALYSIS Business Review Total revenue of the Company increased from RMB20,365,000 in the year

2009 to RMB21,362,000 in the year

2010 (representing an increase of 5%). The increase was mainly attributable to the effective strategy adopted by the management to cope with changes in the market. Cost of Sales For the year ended

31 December 2010, the cost of sa........