Sunpower Group Q2 net profit surges 166.7%

SINGAPORE - Strong growth in its engineering, procurement and construction (EPC) services segment helped lift second quarter net profit at heat transfer technology company Sunpower Group.

Net profit for the three months ended June 30 surged 166.7 per cent over the same period a year ago to 40.5 million yuan, while revenue rose 12.7 per cent to 392.6 million yuan.

While growth in China is slowing, there are prospects in the centralised steam and electricity sector, with the development of clean coal technology, said Sunpower Group chairman Guo Hong Xin.

Earnings per share for the quarter was 5.48 yuan cents, up from 3.84 yuan cents in the same period a year ago.

Net asset value per share was 139.39 yuan cents as at June 30, from 131.78 yuan cents as at Dec 31 last year.