Sifang Shares Benefits from Smart Grid Development

Recently, Sifang Stock Company's 2013 annual report showed that operating income was 3052.5501 million yuan, an increase of 29.97% year-on-year; net profit attributable to shareholders of listed companies was 370.5033 million yuan, a year-on-year increase of 25.76%, and basic earnings per share was 0.92 yuan. At the same time, the company plans to send 2.75 yuan (taxes included) for every 10 shares to all shareholders.

The annual report shows that the revenue of various products of Sifang Stock has increased at different levels. Among them, power transmission and protection products are the main source of income for the company, sales revenue increased by about 20% year-on-year; distribution network automation increased by 191% year-on-year, power electronics business increased by 96% year-on-year; power plant automation grew steadily by 15%, rail transit automation sales Revenue was stable year-on-year.

Looking forward to 2014, Sifang believes that the UHV AC/DC, distribution network and automation, distributed generation, and distribution network energy-saving markets in the smart grid-related areas are expected to increase in volume. The company has an absolute advantage in UHV secondary protection. The distribution network business also developed rapidly in 2013 and achieved a great breakthrough. The new round of high business cycle of UHV and distribution automation will also drive the company's performance in the grid business to continue to grow. Some industry sources stated that Sifang is one of the leaders in China's power automation industry and maintains industry leadership in power plant automation, substation automation and distribution automation. With the gradual deepening of smart grid construction, the company will continue to benefit.

Haitong Securities Analysts Niu Pin pointed out that in order to achieve sustainable growth, Sifang’s shares have expanded into industrial automation, power electronics, and new energy industries in recent years. These industries have large demand. The company’s technology is good and the base is small. The future will be the growth of the company. Highlights. The company is in transition and conservatively expects the growth rate of the company will slow down from previous years. It is expected that the growth rate of net profit attributable to owners of the parent company during 2014-2016 will be 20.40%, 20.78%, and 22.41%, respectively, and earnings per share will be 1.10 yuan, 1.33 yuan, and 1.62 yuan, respectively. The company's reasonable valuation is 2014-15- 20x P/E, reasonable valuation range is 16.50-22.00. The company's technical strength is relatively strong, and the industrial automation field has a large market for expansion. The company can achieve sustained growth and maintain a “buy” investment rating.

Remote Socket

REMOTE CONTROL SOCKET
Important Safeguards
When using any electrical appliance, in order to reduce the risk of fire, electric shock and/or injury to persons, basic safety precautions should always be follow8d. including:
• The appliance is for household and indoor use only.
• Before plugging in. check that the voitage on the rating label is the same as the mains supply.
• To protect against electric shock, do not immerse any part of the product in water or other liquid.
• This socket is intended for use by competent adults only and children should be supervised at all times.
• Do not use the socket for other than its intended use.
• This socket can be used by children aged from 8 years arxl above and persons with reduced physical, sensory or mental capabilities or lack of experience and knowledge if they have been given supervision or instruction concerning use of the appliance in a safe way and understand the hazards involved. Children shall not p<ay with the appliance Cleaning and user maintenance shall M be made by children without supervision.
• Children of less than 3 years should be kept away unless continuously supervised.
Children from 3 years and less than 8 years shall only switch on/off the appliance provided that it has been placed or installed in its intended normal operating position and they have been supervision or instruction concerning use of the appliance in a safe way and understand the hazards involved. Children aged from 3 years and less than 8 years shall not plug in. regulate and clean the appliance or perform user maintenance.
• Don't use this socket in the immediate surroundings of a bath, a shower or a swimming pool.
• In case of malfunction, do not try to repair the socket yourself, it may result in a fire hazard or electric shock
Do Not Exceed Maximum a680W
Place the LR44 batteries provided into the compartment in the back of the Remote Control, please insert as sho*/m in the back of the compartment to ensure the polarity is correct.

Programming Instructions
• Plug the Remoce Socket$($)lnto the wall socket(s) and switch on the mams supply, the red LED will flash every second.
• If the LED is not flashing press & hold the manual ON/OFF button for 5 seconds until it Hashes

•Press any ON switch on the Remote Control for approximately 2 seconds and the Remote Socket(s) learn the code. The LED will stop flashing top confirm the codehas been accepted.
• Any number of Remote Sockets can be programmed to one Remote Control ON button to create multiple switching.
• To programme o<her Remote Sockets on different Remote Control ON buttons repeat the prevous steps
• If the mains supply is turned off the Remote Sockets v/ill lose their code and it wil be necessary to re-pcogramme.
Operation:
• Plug your appliance(s) into the Remote Socket(s)
• Press the programmed ON or OFF button on the Remote Control to control the Remote Socket.
♦ The Remote Sockets can also be operated manually using its ON/OFF Button Trouble shooting
If a Remote Socket does not react to the Remote Control please check the followng:
♦ Low battery in tbo Remote Control
• Distance too large between the remote control and the recerver (ensure the range distance is no more than 20 clear Metres) and free from obstacle that may reduce the distance.
• If programming has not been successful, tum the power off and back on then follow the programming steps above.
How to decode
• Press the manual ONX)FF button for 5 seconds until the red LED flashes once per
second to confirm de-coding is successful
♦ Press the ALL OFF switch on the Remote Control for more than 3 seconds, the LED
flashes once per second to confirm (decoding successful.
Voltage: 240V-/50HZ
Max power rating: 3680W max.
Remote frequency:
Remote range:
Battery Type:
433.92MHz
230 Metres
Button Cell 2x1.5V LR44 =
Please check with your local waste management service authority regarding regulations for the safe disposal of the batteries. The batteries should never be placed G municipal waste.
Use a battery d^posal facility if available
M
For eioctncal products sold within the European Community. At the end of the electrical products useful life, it should not be disposed of wth household waste. Please recycle faaMies exist. Check with your Local Authonty or retailer for recycling advice.
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