According to the Circular on Budgetary Indicators for Releasing Central Government Financial Rewards Funds for Energy Saving Technology in 2009 issued by the Finance Bureau of Changji Prefecture, Urumqi, the China-Thailand Chemical Energy System Optimization Energy Conservation Project obtained financial incentive funds of RMB 16.01 million and the company’s holding subsidiary Xinjiang Huatai Heavy Chemicals Co., Ltd. The surplus heat of the power plant of the limited liability company used the energy-saving project to obtain 6 million yuan of financial incentive funds. After the project is completed, the Ministry of Finance and the National Development and Reform Commission will review the actual project energy savings according to procedures and liquidate the award funds.
The company's energy system optimization energy-saving project 16.01 million yuan financial award funds have arrived on December 31, 2009. Xinjiang Huatai Heavy Chemical Co., Ltd. power plant waste heat utilization energy-saving project 6 million yuan financial award funds have arrived on January 7, 2010.
The award funds will be included in the profits and losses of each period based on the actual energy savings realized by the company. The impact on the company’s current profit before tax in 2009 will be approximately 13.7366 million yuan. The remaining incentive funds will be included in the profit and loss for the corresponding month of 2010 in the month of 2010 energy saving. . The acquisition of this award fund will affect the relevant indicators of the company's 2009 performance forecast.
According to a Sino-Thai chemical announcement, the company's main product PVC price rebounded rapidly in the fourth quarter of 2009; in addition, on December 31, 2009, the company received financial incentive funds of RMB 16.01 million, and therefore it expects its 2009 net profit to decline year-on-year. Will be less than 10%. Zhongtai Chemical had previously estimated that the net profit in 2009 would fall by 30%-60% compared with the same period last year.
The company's energy system optimization energy-saving project 16.01 million yuan financial award funds have arrived on December 31, 2009. Xinjiang Huatai Heavy Chemical Co., Ltd. power plant waste heat utilization energy-saving project 6 million yuan financial award funds have arrived on January 7, 2010.
The award funds will be included in the profits and losses of each period based on the actual energy savings realized by the company. The impact on the company’s current profit before tax in 2009 will be approximately 13.7366 million yuan. The remaining incentive funds will be included in the profit and loss for the corresponding month of 2010 in the month of 2010 energy saving. . The acquisition of this award fund will affect the relevant indicators of the company's 2009 performance forecast.
According to a Sino-Thai chemical announcement, the company's main product PVC price rebounded rapidly in the fourth quarter of 2009; in addition, on December 31, 2009, the company received financial incentive funds of RMB 16.01 million, and therefore it expects its 2009 net profit to decline year-on-year. Will be less than 10%. Zhongtai Chemical had previously estimated that the net profit in 2009 would fall by 30%-60% compared with the same period last year.
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