What is included in the annual report 2021?

ANNUAL REPORT 2021 All financial numbers in this report are based on U.S. Generally Accepted Accounting Principles. This letter contains statements other than statements of historical fact, which are subject to risks, uncertainties and other factors as described the company’s filings with Securities and Exchange Commission.

What are the payment terms for a solar project?

Payment terms for sales of our project assets, PV solar power systems, and operations and maintenance services vary by contract but are generally due upon demand or within several months of satisfying the associated performance obligations.

What is the Annual CAP & transaction amount under solar farm O&M agreement?

The annual cap and the actual transaction amount of the transactions contemplated under the Solar Farm O&M Agreement for the year ended 31 December 2021 are approximately RMB15,000,000 and RMB8,345,000 (equivalent to approximately HK$10,046,000), respectively.

What are financial incentives for PV solar energy?

In addition to these support programs, financial incentives for PV solar energy may include tax and production incentives. Additionally, many governments have proposed or implemented policies or support programs intended to stimulate their respective economies.

What are the credit terms for solar glass sales?

The credit terms granted by the Group to its customers in respect of sales of solar glass are generally from 30 to 90 days. Receivables from sales of electricity were usually settled on a monthly basis by the state grid companies.

How is solar glass revenue recognised?

Revenue is recognised as follows: The Group manufactures and sells solar glass. Revenue from sales of solar glass are recognised when control of the products has transferred, being when the products are delivered to the customers, and there is no unfulfilled obligation that could affect the customers’ acceptance of the products.