SFCE Media Scan for March 27, 2015

SFCE News

1. Shunfeng International Clean Energy Limited announces profit turnaround in 2014 with revenues increased by 276 percent

   Mar 27, 2015 | Solar Server

   Shunfeng International Clean Energy Limited (Hong Kong) on March 26th, 2015 announced the audited consolidated results for the year ended December 31st, 2014.

SFCE News

1. Shunfeng International Clean Energy Limited announces profit turnaround in 2014 with revenues increased by 276 percent

   Mar 27, 2015 | Solar Server

   Shunfeng International Clean Energy Limited (Hong Kong) on March 26th, 2015 announced the audited consolidated results for the year ended December 31st, 2014. In 2014 the Group recorded revenues of RMB 5,745.9 million (approx. USD 942 million, representing an increase of 275.6% from RMB 1,529.7 million (approx. USD 246 million) in 2013.

   Gross profit increased significantly by RMB 1,120.6 million (approx. USD 180 million), or 741.0%, from approximately RMB 151.2 million (approx. USD 24 million) in 2013 to RMB 1,271.8 million (approx. USD 205 million) in 2014.

   2014 revenue from solar photovoltaic (PV) product manufacturing and trading business was RMB 5,229,780 (approx. USD 841 million). Solar power generation business revenues added up to RMB 503,082 million (approx. USD 81 million).

    Shunfeng group sales of solar products increased by 159.7% to 3,238.5 MW

   The revenue and net profit increased primarily due to a substantial increase in the sales volume of the manufacturing and trading of solar photovoltaic (PV) products after the acquisition of Wuxi Suntech in April 2014, with the Group’s sales volume of solar products increasing 159.7% to 3,238.5 MW, of which 1,094.7 MW of inter-group solar product sales had been reconciliated in the revenue for the year. Shunfeng Group’s PV power plants generated income from solar power generation in 2014 with a total power generation for the year reaching 607,793 MWh.

   The Group changed its company name from ‘‘Shunfeng Photovoltaic International Limited’’ to ‘‘Shunfeng International Clean Energy Limited’’ in November 2014. This marks the Group’s business transition from being primarily based on the solar power sector to gradually becoming a leading clean energy supplier offering low-carbon energy-saving integrated solutions.

   Currently, the extensive business of the Group covers clean energy supply, energy development, technological innovation and application in the relevant clean energy fields such as solar power generation, wind power generation, geothermal power generation and sea water power generation, as well as development and manufacturing of energy storage technology and energy storage products.

    

   PV plants totaling 644 MW connected to the grid in 2014

   In respect of solar power generation business, the Group’s total power generation from Xinjiang, Gansu, and other PRC regions amounted to 607,591 MWh for the whole year of 2014.

   In 2014, the Group maintained its leading position in China’s solar power generation sector, initiating solar power plant projects with a total installed capacity of 1,439 MW under construction, and completing grid connection with a total capacity of 644 MW.

    

   Wuxi Suntech acquisition enhances PV production capacity

   The acquisition and reorganization of Wuxi Suntech, a large-scale solar PV module manufacturer, was carried out during the year, largely enhancing Shunfeng’s manufacturing technique and production capacity for solar products. Wuxi Suntech was included in the list of first-class PV components suppliers contained in the Global PV Market Forecast Report published by Bloomberg New Energy Finance (BNEF) in February 2015, which is a strong testament to the reliability of the products of Wuxi Suntech.

   In addition, the Group announces progress regarding the integrated PV business and other related clean energy businesses and fully put into action the synergy between vertically-integrated products and solar power plants, in an attempt to achieve the Group’s objective of becoming the largest global clean energy and low-carbon energy-saving integrated solution provider.

   S.A.G. Solarstrom buy-out enhances EPC and PV monitoring capacity as well

   During the year, the Group has successfully completed a number of substantial overseas and domestic acquisitions and overseas expansion plans, including the acquisition of 30% equity interests in Powin Energy Corporation in August 2014. Shunfeng also acquired S.A.G. Solarstrom AG.i.l. (S.A.G.), a German solar energy enterprise, with a view to enhancing its capability in developing solar energy projects, EPC (engineering, procurement and construction) and monitoring PV stations as well. S.A.G. provides comprehensive services in the solar industry while meteocontrol GmbH, its subsidiary, is one of the largest independent PV stations monitoring services providers in the world.

   In 2015, the Shunfeng had also entered into an exclusive agency right of collaboration with GreenWheel EV on manufacturing and sales of the sole electrical vehicle made of GreenWheel EV’s core technique around the world except for Mainland China. GreenWheel EV specializes in research, development and manufacturing of sole electrical motor core technology in PRC.

   Solar Server (English): http://www.solarserver.com/solar-magazine/solar-news/current/2015/kw13/shunfeng-international-clean-energy-limited-announces-profit-turnaround-in-2014-with-revenues-increased-by-276-percent.html

   Solar Server (German): http://www.solarserver.de/solar-magazin/nachrichten/aktuelles/2015/kw13/shunfeng-steigerte-umsatz-2014-um-276-und-meldet-ausgesprochen-positive-ergebnisse.html

   ACN Newswire: http://en.acnnewswire.com/press-release/english/21179/shunfeng-achieved-profit-turnaround-in-2014-with-brilliant-growth

   
   

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