China CleanTech Index January-March 2015 Quarterly Performance Report

Sydney, April 8, 2015 AEST (ABN Newswire) - China CleanTech Index January-March 2015 Quarterly Performance Report

The China CleanTech Index provides the definitive measure of the performance of Chinese cleantech companies that are listed on stock exchanges around the world.

The cleantech industry is split into a number of sub-sectors as detailed in the table below. Each of the sub-sectors contains companies that have both environmental and economic benefits.

Biogas
Geothermal - Hot dry rocks and conventional
Biofuels
Low Emissions Transport Technologies
Carbon Trading
Solar Thermal and Photovoltaics
Energy Efficiency & Biomaterials
Waste Management & Recycling
Energy Storage & Fuel Cells
Water
Environmental Services
Wave, Tidal & Hydro
Green Buildings
Wind Generation

The cleantech sector is fundamentally different to Socially Responsible Investments (SRI) or Environmental, Social and Governance (ESG) performance. SRI and ESG look at incremental improvements in company performance and can be seen as 'operational hygiene' measures that find the best in class. Cleantech focuses on companies whose output positively enhances the communities and ecologies in which they reside. It is about doing 'more good' rather than 'less bad'.

With over 160 companies falling under the coverage of the Index and with a combined market capitalisation of over 1.9 trillion Renminbi (US$313 billion), the China CleanTech Index presents a picture of the Chinese cleantech industry's growth in a single measure.

The Index is weighted by market capitalisation and is benchmarked against the following indices to show its relative performance:

- Wilder Hill New Energy Global Innovation Index (NEX) - which measures the performance of global clean energy stocks

- Cleantech Index (CTIUS) - which measures the performance of global cleantech stocks

- China Shanghai Composite Index (SHCOMP) - which measures the performance of stocks listed in Shanghai.

- MSCI World (MSCI) - which provides a measure of the performance of global stock markets.

The rules for the formulation and management of the Index have been developed with reference to global best practice. An overview of these rules is provided in the annual performance report.

The China Cleantech Index is updated each month and published on the SinoCleantech website at www.sinocleantech.com and on the Australian CleanTech website at www.auscleantech.com.au. It is published internationally in conjunction with Cleantech Investor (www.cleantechinvestor.com) and in China in conjunction with Top Capital (www.topcapital.cn).

Monthly results can be emailed directly to interested parties by subscribing at www.sinocleantech.com.

China CleanTech Index Performance

The China CleanTech Index outperformed all of its four benchmarks for the month of March 2015 and recorded a huge gain of 16.2%. This was driven by both strong gains across all Chinese stocks and the positive government sentiment towards environmental initiatives expressed at the National People's Congress.

The China CleanTech Index rose from 56.1 to 65.2 over the month of March recording a 16.2% gain. This compared to the NEX gain of 2.8%, the CTIUS loss of 1.2%, the Shanghai Composite gain of 13.2% and the MSCI loss of 1.8%. The China CleanTech 20 recorded a 12.3% gain.

Over the first quarter of 2015, the China CleanTech Index recorded a gain of 23.7%, outperforming all of its benchmark indices. Over the quarter, the NEX gained 9.1%, the CTIUS gained 4.3%, the Shanghai Composite gained 15.9% and the MSCI gained 1.8%.

The twelve month gain for the China CleanTech Index now stands at 46.0% outperforming all but the Shanghai Composite. This twelve month gain is being driven by the China Hydro Index (+112%), the China Environment Index (+55%) and the China Water Index (+54%).

---------------------------------------------------------------           2012   2013   2014 03-2015  1Q15   6m   12m    3y---------------------------------------------------------------(CCTI)   -16.5%  29.2%  18.8% 16.2%  23.7%  36.6%  46.0%  58.9%(CCT20)  -15.5%  24.1%  18.2% 12.3%  14.1%  41.3%  44.0%  41.9%(NEX)     -5.5%  53.7%  -3.2%  2.8%   9.1%  -1.5%  -5.1%  43.0%(CTIUS)    7.3%  37.0%  -8.4% -1.2%   4.3%   2.9%  -7.3%  26.9%(SHCOMP)   3.2%  -6.7%  52.8% 13.2%  15.9%  58.6%  84.3%  65.7%(MSCI)    13.2%  24.1%   2.9% -1.8%   1.8%   2.5%   4.0%  32.7%---------------------------------------------------------------

CCTI - China CleanTech Index
CCT20 - China CleanTech 20
NEX - Wilder Hill New Energy Global Innovation Index
CTIUS - Cleantech Index
SHCOMP - China Shanghai Composite Index
MSCI - MSCI World

The market capitalisation of the 167 stocks in the China CleanTech Index after its rebalance is RMB 1.9 trillion (US$313 billion) which has set a new all time high. This is a long way up from the Index's trough of RMB 604 billion in November 2012.

Best and Worst Stocks

The best and worst performers in terms of share price performance over the month and quarter are shown in the table below.

Over the month, 16 companies recorded share price gains of more than 35% and 8 companies recorded losses of more than 15%.

Over the quarter, 13 companies recorded share price gains of more than 70% and 8 companies recorded losses of more than 15%.

March 2015

Best Performers
Share Price Gain > 35%

ZJ Fuchunjiang Environ Thermoelectric
Guangzhou Hongli Opto Electronic
Jiangxi Lianchuang Optoelec.Sc&Tech.
Shenzhen AOTO Electronics
Xiamen Changelight
Zhejiang Feida Environmental Science Technology
Shanghai Yanhua Smartech
Hanwha Solarone
Jiangsu Akcome Solar Science and Technology
JS Huasheng Tianlong Photoelec
Sungrow Power Supply
Zhejiang Sunflower Light Energy Science & Technology
Beijing Water Business Doctor
Duoyuan Global Water
Nanjing CEC Environmental Protection
Sinovel Wind Group

Worst Performers
Share Price Loss > 15%

China Clean Energy
LED International Holdings
SmartHeat
China Solar & Clean Energy Solns
LDK Solar
Suntech Power Holdings
Hong Kong Highpower Technology
China Industrial Waste Management

First Quarter 2015

Best Performers
Share Price Gain > 70%

China Clean Energy
China Energy Recovery Inc
Guangzhou Hongli Opto Electronic
Tellhow Sci-Tech
Shanghai Yanhua Smartech
Jiangsu Akcome Solar Science and Technology
Sungrow Power Supply
Suntech Power Holdings
China BAK Battery
Sunwoda Electronics
Chiho-Tiande Group
Beijing Water Business Doctor
Sinovel Wind Group

Worst Performers
Share Price Loss > 15%

LED International Holdings
Leader Environmental Technologies
LDK Solar
Yingli Green Energy
Advanced Battery Technologies
Hong Kong Highpower Technology
C&G Environmental Protection Holdings
Sound Global

Index Rebalance

The China CleanTech Index underwent its quarterly rebalancing at the end of March which took account of recent share issues and other corporate activity.

No companies were removed from the Index and the following two companies were added:

- Hanergy Thin Film Power Group Limited (0566.HK) is engaged in producing equipment and turnkey production lines for manufacture of amorphous silicon based thin film solar photovoltaic modules.

- Beijing SDL Technology Co.,Ltd (002658,SHE) is primarily engaged in the research, development, manufacture, sale and operation maintenance services of analysis instruments, environmental monitoring systems and industrial process analysis systems.

Component Sub-Indices

To provide an analysis of the China CleanTech Index, eight sub-indices have been developed. The performance of each of these sub-indices over the last five years and the current quarter are shown in the table and charts below.

All sub-indices recorded gains for the quarter. The best results were the 41.0% gain for the China Efficiency Index and the 39.1% gain for the China Storage Index. The worst result was recorded by the 9.2% gain from the China Hydro Index.

China CleanTech Sub-Indices

                         2010    2011    2012   2013   2014   1Q15China Efficiency Index  31.8%  -60.4%  -30.9%  23.5%  22.6%  41.0%China Environment Index 13.5%  -31.1%  -21.8%  37.7%   9.3%  32.3%China Solar Index      -13.0%  -57.5%  -36.2%  76.9%  -9.0%  31.3%China Storage Index    -15.1%  -36.6%   11.7%  32.2% -17.2%  39.1%China Waste Index       99.1%  -25.9%  -12.5%  32.5% -13.2%  20.2%China Water Index        9.6%  -49.7%   -8.0%  37.6%  28.7%  20.7%China Hydro Index      -35.6%  -23.0%    1.1%  -9.9%  78.9%   9.2%China Wind Index       -21.0%  -57.7%  -32.5%  48.5%  -0.3%  26.5%

Index Component Companies

The 20 largest Index constituents by market capitalisation on 31 March 2015 are provided in the table below. These stocks will be the constituents of the China CleanTech 20 until the Index rebalance on 30 June 2015

In the China CleanTech 20, the greatest sub-sector representations are Water with eight companies followed by Wind with four companies.

New entrants to this list at this rebalance are Hanergy Thin Film Power Group, Beijing Water Business Doctor, Sungrow Power supply and Sinovel Wind Group Company Limited. These have taken the place of Zhongshan Public Utilities Group, Fujian Longking, Beijing SPC Environment Protection Tech and Tianjin Capital Environmental Protection Group.

1 Hanergy Thin Film Power Group Ltd SOLAR HKSE (HKG:0566)
2 China Yangtze Power Co., Ltd. WAVE, TIDAL, HYDRO Shanghai (SH) (SHA:600900)
3 Power Construction Corporation of China,Ltd (previously Sinohydro Group Ltd) WAVE, TIDAL, HYDRO Shanghai (SH) (SHA:601669)
4 China Longyuan Power Group Corp WIND HKSE (HKG:0916)
5 Xinjiang Goldwind Science & Technology Co. WIND Shenzhen SX (SHE) (SHE:002202)
6 Tsinghua Tongfang Co., Ltd. ENERGY EFFICIENCY & BIOMATERIALS Shanghai (SH) (SHA:600100)
7 China Everbright International WATER HKSE (HKG:0257)
8 Beijing Originwater Technology Co., Ltd. WATER Shenzhen SX (SHE) (SHE:300070)
9 Chongqing Water Group Company Limited WATER Shanghai (SH) (SHA:601158)
10 Sinovel Wind Group Company Limited WIND Shanghai (SH) (SHA:601558)
11 Beijing Capital Co., Ltd. WATER Shanghai (SH) (SHA:600008)
12 Beijing Enterprises Water Group WATER HKSE (HKG:0371)
13 Guangdong Golden Dragon Development Inc. WATER Shenzhen SX (SHE) (SHE:000712)
14 Beijing Water Business Doctor Co., Ltd. WATER Shenzhen SX (SHE) (SHE:300055)
15 GCL-Poly Energy Holdings SOLAR HKSE (HKG:3800)
16 Chengdu Xingrong Investment Co.,Ltd WATER Shenzhen SX (SHE) (SHE:000598)
17 Sound Environmental Resources Co., Ltd. WASTE Shenzhen SX (SHE) (SHE:000826)
18 Beijing New Building Materials Public Limited Company GREEN BUILDINGS Shenzhen SX (SHE) (SHE:000786)
19 Huaneng Renewables Corp Ltd WIND HKSE (HKG:0958)
20 Sungrow Power Supply Co SOLAR Shenzhen SX (SHE) (SHE:300274)

To view the report, please visit:
http://media.abnnewswire.net/media/en/docs/79696-1Q15-ENG.pdf


About Sino CleanTech

Sino CleanTech publishes the China CleanTech Index and facilitates Chinese Cleantech investments and provides services to Government agencies across Asia to help stimulate investment in the Cleantech industry. These investments include looking at listed cleantech stocks and direct investment into projects and companies. Sino Cleantech is active in facilitating:

- Investment from Chinese investors into cleantech in both China and internationally; and

- Investment from international investors into the Chinese cleantech market.

Please contact us if you are looking for funding or seeking investments.

 

Contact

John O'Brien Managing Director, Sino CleanTech Tel: +61-419-826-372 E-mail: john.obrien@sinocleantech.com Dorothy Zhao Manager, Sino CleanTech Australia: +61-432-294-989 E-mail: dorothy.zhao@sinocleantech.com