CECEP to list on Shanghai Exchange

CHINA: China Energy Conservation and Environmental Protection Group Wind Corporation (CECWPC) has been approved by the China Securities Regulatory Commission to launch its first share offering.

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The company had installed a total of 1.4GW grid-connected wind turbines by the end of 2013 and reported a turnover of CNY 1.08 billion ($164 million) last year, of which about CNY 1.06 billion ($173 million) or 98.1% came from wind.

When the company launches the offer on the Shanghai Stock Exchange in June, it will become the first major wind developer listed on the country's A-share market.

Other major wind developers, such as Longyuan Electric, Huaneng Renewables and Datang Renewable Power have been listed as H-shares on the Hong Kong Stock Exchange.

A company on China's mainland can be listed on the Shanghai and Shenzhen stock exchanges. The result is an A-share, which is traded in Chinese yuan.

The same company may also be listed on the Hong Kong stock exchange, but this will result in an H-share that is traded in other currencies, such as HK dollars or US dollars.

Turbine manufacturer Goldwind is also listed on the A-share market. And other major A-share listed power-generating companies, such as Huadian Power International, Huaneng Power International and SDIC Power Holdings, have minor wind power business.

CECWPC is a state-owned company, in which the China Energy Conservation and Environmental Protection Group (CECEP) has a controlling stake. The firm was founded in January 2006 and has focused on the development, operation and maintenance of wind farms.

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