Yeong Guan Energy Applies for Primary Listing in Taiwan

Taipei, Oct. 5, 2010 (CENS)--On Sept. 29, Yeong Guan Energy Technology Group Co., Ltd. applied for primary listing of its common stock on the Taiwan Stock Exchange (TWSE), becoming the eighth foreign issuer to do so this year.

Yeong Guan (stock code: 1589), with share capital of NT$800 million and registered in the Cayman Islands, is mainly engaged in the production of high-quality customized ductile iron castings and grey iron castings via a hand-molding process. The castings are integral to plastic injection molding machines, large precision machine tools, large gas turbines for power generation, large high-speed color printing presses, and medical equipments (cancer treatment, Gamma-knife treatment).

During the first half of 2010, Yeong Guan generated 43% of revenues from castings for wind turbines and 30% from plastic injection molding machines, with its top-10 customers consisting of leading wind turbine makers, plastic injection molding machine manufacturers, and medical equipment producers. Sixty percent of revenues come from within China, with the rest coming from Europe and North America, each accounting for more than 10%.

Operating primarily in China's Ningbo City, Zhejiang province; Dongguan City, Guangdong province; and Liyang City, Jiangsu province, the group owns four foundries, one casting machine shop and one scrap metal recycling plant, as well as three foreign-registered trading companies, all of which employ around 1,900 staffers.

The group's consolidated financial report shows consolidated revenue of NT$3.07 billion, net income of NT$205 million and earnings per share of NT$3.02 in 2009.

In the first half of 2010, its consolidated revenue came to NT$2.12 billion, net income of NT$141 million, and EPS NT$1.76.