Shenzhen HiFuture Electric Co
Shenzhen HiFuture Electric Co Ltd is a provider of urban and rural electricity distribution high-reliable network equipment and comprehensive solutions. The Company's major products include medium-voltage cable distribution boxes, low-voltage cable distribution boxes, medium-voltage cable butt boxes, electric equipment boxes, cable accessories, cable buckets and switches. The Company’s products are applied in electricity network projects. The Company is headquartered in Shenzhen, Guangdong Province.
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Shenzhen HiFuture surges 10 percent on cash and stock dividends
Shenzhen HiFuture Electric Co (SZ:002168) plans to pay a cash dividend of RMB0.3 and one share of stock dividend per share, according to a statement yesterday. Shares in the company opened at the 10 percent trading cap. In 2008 the figures paid were RMB0.5 and one share of stock dividend.
Shenzhen HiFuture made a net profit of RMB46m in 2008, a 20.58 percent increase year on year. Revenue from low-voltage cables, its core product, rose 58 percent.
The company still considers last year to have been a difficult time however, due to the effects of the Sichuan earthquake and the financial crisis. Shenzhen HiFuture’s improved performance this year can be attributed to heavier investments in the country’s electricity network. China’s National Grid and China Southern Grid spent RMB247.5bn and RMB48.1bn respectively on power lines last year.
The company is aiming for a net profit of RMB68m in 2009, an increase of 30 percent on last year.
