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CSG Holding to spend RMB 1.3 bln on energy-saving glass

May 14, 2010 (China Knowledge) - CSG Holding Co Ltd<000012>, which is principally engaged in the manufacture and sale of glass as well as the solar energy industry, plans to invest RMB 1.3 billion to expand its output of energy-saving glass this year.

The Shenzhen-listed firm has provided a total of 70,000 square meters of energy-saving glass to various pavilions in the 2010 Shanghai World Expo, which started on May 1 and will end on Oct. 31.

Statistics indicate that switching from common glass to energy-saving glass produced by CSG Holding can reduce a building's power consumption by 70%.

Board Chairman Zeng Nan said that the firm targets RMB 7 billion in revenue for 2010 and that its expenditure on research and development will swell to RMB 100 million from RMB 50 million in 2009.

Last year, CSG Holding reaped RMB 5.28 billion in total revenue and RMB 830 million in net profit.

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