China Energine
| Company type | Public |
|---|---|
| Industry | Energy, Telecommunications Equipment |
| Predecessor | CASIL Telecommunications Holdings Limited |
| Founded | 1997 |
| Headquarters | Hong Kong , Hong Kong |
Key people | Au-yeung Keung (company secretary, as of 2016) |
| Products | Telecommunication equipment, Wind power development |
| Owner | China Aerospace Science and Technology Corporation (via subsidiaries) |
| Parent | China Aerospace Science and Technology Corporation (CASC) |
China Energine International (Holdings) Limited, commonly referred to as China Energine, is a holding company incorporated in the Cayman Islands and headquartered in Hong Kong. It operates under the control of the Chinese state-owned enterprise China Aerospace Science and Technology Corporation (CASC). The company was previously identified as CASIL Telecommunications Holdings Limited, with CASIL representing China Aerospace International Holdings Limited, a CASC subsidiary listed on the stock exchange.
Both China Energine and CASIL are categorized as red chip entities. China Energine has been traded publicly since 11 August 1997. By 30 June 2016, its market value was recorded at HK$2.752 billion.
The enterprise primarily engages in manufacturing telecommunication equipment and developing wind power, focusing on the energy industry.
History
In 1997, CASIL Telecommunications Holdings Limited (, also known as "CASIL Telecom" or "Castel") was separated from China Aerospace International Holdings Limited (CASIL), a subsidiary under China Aerospace Science and Technology Corporation (CASC). As of , CASC held a 73.10% stake in the listed company through China Academy of Launch Vehicle Technology and its British Virgin Islands subsidiary, Astrotech Group Limited. In 2008, the company incorporated its wind power operations into the listed entity, prompting a name change to China Energine International (Holdings) Limited. Meanwhile, the Castel brand continued to be used by its Hong Kong-based subsidiary, "China Aerospace Telecommunications Limited" ().
In 2016, the company became subject to criticism for retaining Au-yeung Keung as company secretary despite his suspension from accountancy registration for three years.
Name
The term Energine in English is a fusion of "energy" and "engine," while the Chinese name () combines the characters meaning 10,000 () and energy source (). The corporate motto is "from engine to new energy."
As of , Astrotech Group Limited held a majority share of 60.64% in China Energine. Astrotech is a subsidiary of China Academy of Launch Vehicle Technology, which is wholly owned by China Aerospace Science and Technology Corporation, itself overseen by the State-owned Assets Supervision and Administration Commission of the State Council. Although registered outside mainland China, the company's control by the Chinese government classifies it as a red chip firm.
See also
- APT Satellite Holdings, affiliated company based in Hong Kong
- China Aerospace International Holdings, affiliated company based in Hong Kong