Annual Financial Report

China CDM Exchange Centre Limited Chairman's Statement 2008 is not an ordinary year for everyone. An unprecedented crisis stormed the world beyond anyone's expectation and unfortunately this is probably not the end of the story, not even the beginning of the end. At present, the global economy is trapped in a gloomy atmosphere waiting for recovery. However, I, as Chairman of China CDM Exchange Centre Limited, confidently announce that our business has not been influenced by such a crisis benefiting from CDM's sector specialty and our successful business model. Instead, we still have made significant progress in CDM projects development and got great profits, which further established our leader role in China's CDM market. Further on, in the second half of 2008, our company has carried out some strategic investments in energy-related fields, which strengthened company's operating power and led the company to a diversity-oriented development arena. Hereupon, I am pleased to present the results for financial year ending Dec. 31, 2008. 1. In the year 2008, the company made significant profits from CDM project development. At the end of 2008, the company had total assets of ￥ 572,002,796.97 (equal to £58,307,539.88). The revenue reached ￥ 75,026,822.30 (equal to £6,152,059.16), increasing 56% comparing with 2007. And the net profit is ￥56,056,054.35 (equal to £4,596,491.66) and the company had no bank debts by the end of 2008. 2. Partners Relationship Based upon good commercial credit, the company has established healthy cooperative relationship with more and more companies at home and abroad. Especially the company has established and maintained consolidated cooperative relationship with five largest-scale electricity companies in China and many famous electricity companies in Japan including Tokyo Electric Power, Kansai Electric Power, Tohoku Electric Power, Chubu Electric Power, etc. 3. Project Progress The year 2008, we had a good performance in developing CDM projects. We got more high-quality resources almost covering any possible CDM project fields accepted by UN, including Hydropower, Wind Power and Biomass Energy in New Energy fields, Iron & Steel Industries, and the Petrochemical and LNG projects. 4. Human Resource and Management Regulation. To keep pace with the company's development, we enrolled more and more excellent employees who injected fresh power into the company. In such a way, the human resource is enriched and the team spirit is further strengthened. And the company is still in effort to optimize the management regulation so as to provide better working environment for all the staff. Hereupon, I extend my sincere thanks to my colleagues and every cooperative partner. Wish us great success in 2009! Wish everyone a good health! Outlook In 2009, the company will develop business focusing on the following aspects: 1. To further establish the company's leader role in CDM industry at home and abroad and maintain the company's exclusive advantages in new energy fields. Based on pushing forward the projects available, the company will actively develop new projects and maintain close relationship with the project owner so as to make the projects run effectively and efficiently. 2. Based on the clear awareness for the company development, the company will actively face to International Financial Crisis through polishing professional skills and mastering international financial policy changes all the time. 3. To extend new business fields and optimize the current business model by launching ENE. To be specific, based on current "Consultancy" + "Buyer" business model, we can maximize our profits by acting as the buyer independently. We also invest in new energy projects focusing on clean energy project development including but not limited to Wind Power projects and Hydropower projects. 4. To continue to develop CDM projects and attempt to procure great success. 5. To strengthen management regulation, improve company's management level and enroll high-quality talents. Kang Zheng Chairman The directors present their report and financial statements for the year ended 31 December 2008. Principal activities In the year 2008, the company achieved material progress in developing new business domain and resolutely made some strategic investments focusing on Clean Energy and Renewable Energy fields (including but not limited to hydropower projects and wind power projects). And the specific investment status is as follows: a. To develop the carbon credit market in Clean Energy and Renewable Energy fields (including but not limited to hydropower projects and wind power projects) and facilitate to invest into the clean energy and renewable energy projects in china, the company launched a carbon fund----Europe New Energy Investment Capital Ltd. ("ENE"). ENE is a carbon fund dedicating itself to improve the warm global climate, launched by China CDM Exchange Centre Limited, which invests directly in the carbon credit transaction projects in China and other developing countries in Asia. CCEC can get the prior carbon emission rights and sell them to the buyer who entrusts CCEC to find projects and in such a way CCEC make its profits. b) In order to develop the Clean Energy Projects and Renewable Energy Projects, the Company had a equity investment in China Hydropower Group Limited ("CHPG"). It mainly devotes itself to the Hydropower and Wind Power development and investing funds to develop the New Energy and Renewable Energy projects. It will make full use of its resource advantages in hydropower field to develop hydropower projects and other renewable energy projects in Sichuan, Yunnan, Guizhou, Gansu, Tibet, Qinghai and Xinjiang Uyghur Autonomous Region, etc. Results and dividends The profit for the year after tax was £4,596,491.66 The directors do not recommend a payment of dividend. Directors The following directors have held office since 3 October, 2006 Executive Directors Zheng Kang Qingmei Liu Sha Ying Directors' responsibilities The directors are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Jersey company law requires the Directors to prepare the financial statements each year, which give a true and fair view of the state of the affairs of the company and the profit and loss for that period. In preparing those financial statements, the Directors are required to: * select suitable accounting policies and then apply them consistently; * make judgments and estimates that are reasonable and prudent; * prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business; and * state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company, and to enable them to that the financial statements comply with the Companies (Jersey) Law, 1991. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud, error, and non-compliance with law and regulations. Auditors A resolution will be proposed at the annual general meeting for the re-appointment of Nexia Zhonglei Certified Public Accountants Co., Ltd. as auditors for the forthcoming year. On behalf of the board Melody Zhu Secretary 26 March, 2009 Income Statement As At 31 DECEMBER 2008 2008 RMB GBP Revenue 75,026,822.30 6,152,059.16 Cost of sales (9,750,526.33) (799,524.93) Gross profit 65,276,295.97 5,352,534.23 Selling expenses (2,551,678.76) (209,232.89) Administrative expenses (3,521,522.97) (288,758.30) Profit from operations 59,203,094.24 4,854,543.04 Interest expense (3,147,039.89) (258,051.39) Profit before income tax 56,056,054.35 4,596,491.66 Net profit 56,056,054.35 4,596,491.66 The accompanying notes form an integral part of these financial statements. Average exchange rate：(2008)RMB/GBP: 12.1954 Balance Sheet As At 31 DECEMBER 2008 2008 RMB GBP Non-current assets Property Plant and Equipment 556,444.37 56,721.58 Long term investment 425,642,500.00 43,388,191.76 Total non-current assets 426,198,944.37 43,444,913.34 Current Assets Trade receivable and other receivables 244,782.98 24,952.14 Cash and cash equivalents 8,759,069.62 892,862.42 Financial assets at fair value through 136,800,000.00 13,944,811.98 profit or loss Total current assets 145,803,852.60 14,862,626.54 Total assets 572,002,796.97 58,307,539.88 Current Liabilities Trade payable and other payables 4,211,385.45 429,290.78 Total current liabilities 4,211,385.45 429,290.78 Total liabilities 4,211,385.45 429,290.78 Capital and reserves Share capital 221,999,000.00 30,423,074.26 Capital surplus 240,400,000.00 16,487,548.61 Surplus reserve 49,336,357.17 3,383,675.49 Retained earnings 56,056,054.35 4,596,491.66 Foreign currency translation - 2,987,459.08 Total shareholder's equity 567,791,411.52 57,878,249.10 Total liabilities and shareholder's 572,002,796.97 58,307,539.88 equity The accompanying notes form an integral part of these financial statements. Exchange rate (2008)RMB/GBP: 9.8101 ;( 2007) RMB/GBP: 14.5807 Cash Flow Statement For the year ended 31 DECEMBER 2008 2008 RMB GBP Cash flows from operating activities Cash generated from operations 64,320,353.55 5,274,148.74 Net cash generated from operating 64,320,353.55 5,274,148.74 activities Cash flows from investing activities Cash pay for investment (322,042,500.00) (26,406,882.92) Purchases of fixed assets - - Net cash used in investing activities (322,042,500.00) (26,406,882.92) Cash flows from financing activities Proceeds from issuance of ordinary 142,659,960.11 11,697,850.02 shares Net cash used in financing activities 142,659,960.11 11,697,850.02 Net (decrease)/increase in cash and bank (115,062,186.34) (9,434,884.16) balances Cash and bank balances at beginning of 123,821,255.96 10,153,111.50 year Cash and bank balances at end of year 8,759,069.62 718,227.34 The accompanying notes form an integral part of these financial statements. Average exchange rate (2008)RMB/GBP: 12.1954 China CDM Exchange Centre Limited Notes to the financial statements FOR THE YEAR ENDED 31 DECEMBER 2008

Companies

Coca-Cola Europacific Partners (DI) (CCEP)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today