Sunpower’s net profit soars 45.3% to RMB81.5m in FY15

Its EPC integrated solutions arm posted higher contribution.

Sunpower Group was boosted by the exemplary performance of its EPC integrated solutions division, as FY15 net profits grew 45.3% YoY to RMB81.5m in FY15.

According to the company’s news release, Sunpower’s EPC integrated solutions arm registered a RMB214m increase, which was somewhat offset by a pullback of RMB13.8m from its environmental equipment manufacturing plant.

Meanwhile, revenue for the year saw an RMB200.2m or 16.2% climb to RMB1.44b from FY14’s RMB1.24b.

Net cash generated from operating activities amounted to about RMB107.6m over the financial year thanks mainly to movements in working capital. Working capital changes were mainly derived from higher trade receivables, other receivables, and trade payables and less inventories and other payables.

Sunpower further reports it is intent on tapping the burgeoning demand of the environmental protection industry and favourable policies by ramping up progression in the smog governance industry.

“Going forward, the Group intends to generate recurring income with long-term concessions that will provide stable and recurring cash flows and EPC income from these environmental projects which will enhance the quality of the Group’s earnings and shareholders’ value,” states the company.