Freetech, a leading provider for asphalt pavement maintenance, announced its annual results of 2015.

Financial Highlights

Freetech Road Recycling Technology (Holdings) Limited (“Freetech”, or the “Group;” stock code: HK.6888), a leading integrated solution provider for asphalt pavement maintenance (the “APM”), announced its annual results for the year ended 31 December, 2015 (the “Year”).

During the Year, the Group’s operating revenue was approximately HK$616.6 million, representing an increase of approximately 57.9% year-on-year. Total profit attributable to owners of the Company was approximately HK$64.5 million, rising approximately 10.3% year-on-year. The growth in revenue and profit of the existing businesses was mainly due to the increase of the total service area of asphalt pavement maintenance projects, the sale of the modular series equipment, and the consolidated results of Tianjin Expressway Maintenance Company Limited since September 2015. The Group completed 3.9 million square metres of APM services, growing 26.4% year-on-year, while the revenue for the APM equipment increased by 48.0% year-on-year. The operating cash flow was significantly improved from cash outflow of HK$18.8 million in 2014 to cash inflow of HK$69.0 million in 2015. Those figures indicate that the Group remains a leading integrated solution provider using "Hot-in-Place" recycling technology in the APM industry of PRC.

Mr. Sze Wai Pan, Chairman of Freetech said, “As a leading provider of the “Hot-in-Place” recycling technology in the APM sector and a provider of one-stop solution covering ’detection, planning, equipment and construction’, our Group will leverage its competitive advantages and the favourable policies to achieve a healthy growth through enhancing its market position, entering new markets and enlarging its share in existing markets.”

About Freetech

Freetech Road Recycling Technology (Stock Code: HK.6888) is a leading integrated solution provider using the Hot-in-Place recycling technology in the asphalt pavement maintenance industry renowned for its Road Doctor brand. The Group has established 11 joint ventures and associates and appointed 12 franchisees across China.