The Group is principally engaged in the development, manufacture and sale of electronic power meters and data collection terminals and the provision of software development services under the brandnames of "Wasion" and "WI.LFAR". The principal products manufactured by the Group are three-phase multi-function electronic power meters. The Group also distributes single-phase electronic power meters. Substantially all of the Groups sales are made in the PRC. Since mid-2004,the Group has expanded its business to the provision of software development services which offer power management software systems and on-site terminal servers products to customers.
As at the Latest Practicable Date, the Group possessed licences to manufacture three types of single-phase electronic power meters and 16 types of three-phase electronic power meters with different specifications. The principal source of the Groups revenue is the income from sales of three-phase electronic power meters.
The Groups electronic power meters are primarily used to measure the transfer of electricity between power stations, power companies and end users of electricity such as residential and industrial users, and can be custom-made according to customers requirements and specifications.
The Groups principal operating subsidary responsible for the development, manufacture and sale of electronic power meters is Changsha Weisheng, a wholly foreign-owned enterprise established on 11 April 2000 in the PRC. Customers of the Group consist of power supply entities such as provincial and regional power companies and non-power supply entities, including manufacturers of power equipment and real estate developers in the PRC.
As at the Latest Practicable Date, the Group had established 25 liaison offices across the PRC to provide after-sale, marketing and liaison services for the whole country.
 |