Sunpower    Last:0.5    +0.005

Re-look at Sunpower

 

not directing at you bro.
thanks for the kind reminder of china counters.
Hope not another midas to haunt us.
As this difficult time, make money togethher :)

ssw518      ( Date: 13-Aug-2020 08:41) Posted: i m not saying bad, i awlays have reserved for china counter, check history, most of the time their own chinese BB gets in way before result. short term upside won' t be high, at most 60 cents ba, very scare of chinese counter. muifan      ( Date: 13-Aug-2020 08:23) Posted: Achieved record earnings and profit in midst of pandemic is remarkable

 

i m not saying bad, i awlays have reserved for china counter, check history, most of the time their own chinese BB gets in way before result. short term upside won' t be high, at most 60 cents ba, very scare of chinese counter.

muifan      ( Date: 13-Aug-2020 08:23) Posted: Achieved record earnings and profit in midst of pandemic is remarkable

 

Dbs should revise its Target Price back to 88 cents 

 

Achieved record earnings and profit in midst of pandemic is remarkable

 

this is a long term investment, must be able to hold long, trade vol usually low but ticking up month by month.

 

Sunpower right on   track : 
Sunpower&rsquo s underlying net profit2 surged 56% YoY to a record high of RMB173.5 million in 1H 2020
Results Highlights
 Record-high revenue and profit despite pandemic
Sunpower&rsquo s underlying net profit surged 56.3% YoY to a new high of RMB173.5 million in 1H 2020, as revenue rose 19.5% YoY to a new record of RMB1,756.9 million
Underlying operating cashflow was RMB161.2 million in 1H2020, above 1H2019&rsquo s RMB151.0 million
Results that reached new record levels of performance have again demonstrated the superiority of Sunpower&rsquo s M& S and GI business models in overcoming challenges
 GI maintained stable growth in contributions
GI EBITDA rose 6.8% YoY in 1H 2020 to RMB187.3 million despite the reduced operating hours
caused by the pandemic, with EBITDA margin up 3.6 percentage points (pps) YoY to 36.6%
GI growth in 2020 will continue to be driven by ramp-up of existing plants, profit enhancement of acquired projects, and potential addition of more earnings-accretive GI projects
 M& S performed well in 1H 2020
M& S revenue rose 32.6% YoY to RMB1,245.5 million in 1H 2020, while segment results rose 77.2%
YoY to RMB171.8 million
Order book sustained at RMB2.8 billion as at July 2020, up from RMB2.5 billion as at January 2020
Singapore, 12 August 2020 &ndash Mainboard-listed Sunpower Group Ltd. (&ldquo 中 圣 集 团 &rdquo , &ldquo Sunpower&rdquo or the &ldquo Group&rdquo ), an environmental protection solutions specialist in proprietary energy-saving and clean
power technologies with a strong focus on expanding into anti-pollution investment projects (&ldquo Green Investments&rdquo or &ldquo GI&rdquo ) that generate long-term intrinsic value in the form of recurring quality cash flows, today announced its financial results for the six months to 30 June 2020 (&ldquo 1H 2020&rdquo ).
Group Financial Highlights (without financial effects of Convertible Bonds and Warrants)
        RMB million
      2Q 2020
      YoY Chg
    1H 2020
    YoY Chg
  Revenue
Gross segment result margin
Underlying net profit2
Underlying EPS3 (RMB cents)
1,084.2
17.6%
122.5
15.5
64.5% 1,756.9
2.1pps 16.3%
142.6% 173.5
131.2% 21.9
19.5%
2.2pps
56.3%
49.0%
    Group EBITDA
        221.2
        62.5%
        352.5
        30.8%
    Group EBITDA margin
  20.4%
  -0.3pps
  20.1%
  1.7pps
    Gross segment result1
        190.5
        87.3%
        286.6
      37.9%
      Profit before income tax
      157.4
      137.8%
      224.1
      51.6%
      Underlying net profit margin
      11.3%
      3.6pps
      9.9%
    2.3pps
        1 Segment results reflect the operating income of each business segment of the Group, before interest, tax and unallocated corporate expenses as well as fair value adjustments and foreign exchange gains or losses for the CBs and warrants.
2 Underlying net profit is the true operating performance of the Group, after adjusting net profit attributable to equity holders (including effects of Convertible Bonds and Warrants) for amortised interest expenses and fair value gains or losses as well as foreign exchange gains or losses associated with the Convertible Bonds and Warrants.
3 Based on weighted average number of outstanding ordinary shares of 791.8 million in 1H 2020 and 754.5 million in 1H 2019.
1

  Investment Thesis
Sunpower has been building a sizeable and valuable portfolio of GI project assets to take advantage of the enormous business opportunities available in China&rsquo s anti-smog sector.
Key drivers that fuel the opportunities for the Group&rsquo s GI segment are:
 The continuous closure of &ldquo high-emission&rdquo pollutive boilers and a structural shift to centralised &ldquo ultra-low emission&rdquo clean GI facilities,
 Stringent zoning policies that mandate the relocation of new factories into industrial parks, providing further growth impetus to GI, and
 Organic expansion of customers and industrial parks served by the GI plants.
GI projects deliver long-term, recurring and high-quality cashflow, due to:
 Strong market position as exclusive steam suppliers within coverage areas, with typically 30-year concessions,
 Captive customer base, as steam is a non-discretionary input product and customers can only buy from Sunpower&rsquo s GI projects, and
 Attractive double-digit internal rate of return (IRR), supported by strong tariff collection as GI projects are able to require prepayments by customers.
Sunpower is well-equipped to forge strongly ahead in GI, due to:
 Cutting-edge proprietary technologies, including the technology that helps Sunpower differentiate itself from competitors as well as reform and upgrade acquired plants to improve operational efficiency,
 Strong and proven execution capabilities, led by a professional management team that is sophisticated at identifying GI projects with investment potential, and optimizing project returns,
 Circular Economy zero-waste production model that lowers production costs by re-cycling, re- using and re-purposing of industrial waste products so that nothing is wasted,
 Early-mover advantage in building a sizeable GI portfolio that allows it to invest or acquire at attractive accretive valuations,
 Robust pipeline of attractive projects available for investment that is being actively evaluated,
 Strong balance sheet and supportive strategic institutional investors that believe in the investment
merits of the GI business.
The natural expansion into GI has proven to be the right direction to take, and management intends to further build up GI as Sunpower&rsquo s value creator and growth driver which forms the bulk of its intrinsic value. This value is expressed in the Net Present Value (&ldquo NPV&rdquo ) of cash flows over the concession
4
  period that will be substantially higher than the contributions in the latest reported period.
8 Projects in Operation + 1 Project in Trial Production
  4 Based on the company&rsquo s long-term discounted cashflow forecasts
2

  Financials
Sunpower has bounced back from the temporary headwinds of the pandemic and achieved new records in revenue and profit in 1H 2020. The Group was able to catch up and demonstrated excellent management of the operational constraints caused by the pandemic. Group profit margins and operating cashflow were even above pre-pandemic levels.
In 1H 2020, revenue rose 19.5% YoY to RMB1,756.9 million, EBITDA increased 30.8% YoY to RMB352.5 million and underlying net profit surged 56.3% YoY to RMB173.5 million. EBITDA margin rose 1.7pps YoY to 20.1% while operating costs were efficiently managed, thus boosting underlying profit margin by 2.3pps YoY to 9.9%. Underlying operating cashflow improved to RMB161.2 million, above 1H 2019&rsquo s RMB151.0 million.
GI plants resumed normal operations in 2Q 2020. As a result, GI EBITDA grew 37.3% QoQ to RMB108.4 million in 2Q 2020 after the economy reopened, and in 1H 2020, rose 6.8% YoY to RMB187.3 million. Profitability also improved as GI EBITDA margin increased 3.6pps YoY to 36.6% in 1H 2020, up from 30.5% in 1Q 2020 and 33.0% in 1H 2019 due to continuous improvement in operational efficiency and further cost control.
M& S revenue rose 32.6% YoY to RMB1,245.5 million in 1H 2020, while M& S segment results rose 77.2% YoY to RMB171.8 million. M& S order book sustained at RMB2.8 billion as at July 2020, up from RMB2.5 billion as at January 2020. The strong performance and record-high order book are attributable to the Group&rsquo s market leadership, strong reputation, financial strength and its proven ability to execute and deliver.
Sunpower&rsquo s M& S segment focuses on the high-end market and services a large base of reputable customers in diverse industries. To date, Sunpower has delivered products and solutions to ~1,500 customers and its reputable customers include Wanhua Chemical, Hengli Petrochemical, CNOOC, CNPC, SINOPEC, ExxonMobil, BASF, BP, Shell, etc. Moreover, ~70% of the Company&rsquo s customer base are repeat customers, which is strong evidence of Sunpower&rsquo s leadership in the industry and its strength as a top-tier supplier of environmental protection equipment and services.
1H 2020 has been one of the most challenging periods for the whole world. However, Sunpower has demonstrated that companies with internally-strong, resilient and adaptable business models are well positioned to overcome challenges.
GI Business Update
Sunpower&rsquo s GI business supplies industrial steam to a wide range of diverse industries, such as chemical, printing & dyeing, paper making, F& B, building materials, pharmacy, paint, wood processing, chemical fertilisers, supported by structural demand. It also provides pollution-free civil heating to a large base of households and electricity to the State Grid.
Updates on the GI portfolio:
 Tongshan Xuzhou Project: Construction is underway and is expected to complete in 2021.
 Xintai Zhengda&rsquo s new plant: Part of the plant was successfully completed and has started trial production.
 Shantou Project: Phase 1 is in trial production, and Phase 2 construction is on track to meet expected steam demand in the concession area.
    3

              The Group has invested and committed approximately RMB1.7 billion in project equity to build up its GI portfolio to-date, and is on track to make project equity investments of RMB2.5 billion by 2021.
  Sunpower&rsquo s Investments in GI to-date
                Production Capacity (no. of boilers x tons/hour of steam + no. of generators x megawatt/hour of electricity)
  Project Equity (RMB&rsquo m)(i)
  Stake (%)
  Status
Project
            Changrun Project (Phase 1)
Yongxing Plant Xinyuan Plant
Suyuan Plant
Lianshui Project Quanjiao Project Xintai Zhengda Plant (old facility) (ii) Jining Project Shantou Project (Phase 1)
Xintai Zhengda
Project(newfacility)(ii) +1× 18MW
            In operation
In trial production Sub-total
Under construction
Sub-total Amount invested and committed
Others
Pipeline(iv)
Total Target
434.1 100% 306.0 100% 85.0 85%
117.2 90%
38.3 95% 49.2 100%
n/a 79.2% 10.3 49% 167.3 51%
1,207.4
2× 220 t/h+2× 25MW
2× 100t/h+1× 150t/h + 2× 18MW 3× 75t/h+2× 6MW 1× 220t/h+1× 25MW 1× 90t/h+2× 75t/h +1× B7MW 2× 40 t/h 1× 40 t/h
n/a
n/a 3× 150t/h+2× 20MW
                                263.1 79.2%
3× 130t/h+1× 35MW
    Shantou Project (Phase 2) Tongshan Project (Phase 1)(iii)
Projects at design stage
132.6 51% 2x260t/h+2x30MW
107.1 85% 1× 130t/h+1× 35MW
502.8 1,710.2
220.4
573.2 2,503.8
                                          Notes: based on current estimates and forecast.
(i) Assuming ~40% equity/60% debt
(ii) Existing plant still in operation and will remain operational until the commissioning of the new plant
(iii) Assuming ~30% equity/ 70% debt
(iv) Including a couple of projects in the late stage of evaluation, which form part of the total pipeline of projects under evaluation valued
at > RMB3.5 billion
Outlook
Sunpower has turned around from the temporary headwinds of the pandemic and is fulfilling the growth potential of its business.
China is the first major economy in the world to recover from the pandemic due to successful virus
5 containment measures and supportive economic policies. 2Q 2020 GDP grew 3.2% from a year earlier ,
following the recovery of various economic indicators, such as the Purchasing Managers Index (PMI) 5https://www.scmp.com/economy/china-economy/article/3093371/china-gdp-economy-avoids-recession-second-quarter-growth-32
    4

  6 which rose above 50% in March 2020 with the latest July data continuing to signal expansion .
According to Director Liu Aihua of the National Bureau of Statistics, this steady economic recovery
78 has laid a solid foundation for continued recovery in the second half . Economists at Oxford Economics
currently expect China&rsquo s GDP to grow 2.5% in 2020, while Caixin Research Institute9 forecasts 2.6- 3.0% growth.
Through its counter-cyclical policies, the government is seeking continued growth as well as stability
and employment. Two key public programs are (1) measures that stabilise enterprises and preserve
10
employmentastheysupportdomesticdemand ,and(2)greaterinvestmentsininfrastructure,including
11
12
Sunpower has built counter-cyclical businesses that can provide reliable financial and operating performance in the long term. Sunpower plans to continue to execute its strategy in 2020 in a way that amplifies its strengths in order to improve earnings in quantity and quality, namely by:
 Solidifyingitsmarketpositionasanenvironmentally-cleancentralisedproviderofindustrialsteam, electricity and heating through continuous ramp-up of existing projects, as well as investments and acquisitions of new projects,
 Riding on opportunities arising from structurally-driven environmental protection and national development trends, such as the closure of small dirty boilers, relocation of factories into industrial parks and development of biomass heating, and
 Building on the stability of the M& S business, supported by advanced proprietary technologies, extensive expertise in energy-saving, energy-efficient environmental protection products and solutions.
Barring unforeseen circumstances, the Group expects the business trends summarized below to benefit its 2020 results. Please note that Sunpower&rsquo s financial results should be viewed on a 12-month basis to arrive at a balanced perspective.
industrial park infrastructure
the environment will be sustained. Premier Li Keqiang at the Third Session of the 13th National People&rsquo s Congress on 22 May 2020 placed pollution control, part of the &ldquo three tough battles&rdquo , on the list of the
government&rsquo s work priorities.
. Further, the government has provided assurances that efforts to protect
     Additional drivers including:
a) Full-year contributions from newly-acquired GI plants, and
  b) Anticipated additional contributions from Shantou Phase 1 and Xintai Zhengda&rsquo s new plant
     Continued ramp-up of existing GI plants, driven by:
a) Continuous connection of new customers following mandatory closures of small dirty boilers
and/or mandatory relocation into industrial parks, and
b) Organic growth of customers and industrial parks served by the Group&rsquo s GI plants.
     Potential earnings-accretive M& A of brownfield GI plants.
     Resilient and solid M& S business with proven track record
    6 http://www.stats.gov.cn/tjsj/sjjd/202007/t20200731_1779872.html
7 https://tech.sina.cn/2020-07-17/detail-iivhuipn3448160.d.html?from=singlemessage& isappinstalled=0 8 https://edition.cnn.com/2020/07/15/economy/china-gdp-intl-hnk/index.html
9 https://www.sohu.com/a/408033227_114984
10 http://www.gov.cn/xinwen/2020-05/06/content_5509313.htm
11 http://www.mof.gov.cn/zhengwuxinxi/caizhengxinwen/202004/t20200420_3501084.htm
12 http://www.gov.cn/premier/2020-05/22/content_5513757.htm
        5

      a) Order book sustained at a high of RMB2.8 billion as at July 2020
b) Continuous improvement of profitability due to the enhancement of core competitive strengths
c) Diversified base of high-end customers across the globe. ~70% are repeat customers
d) Cutting-edge proprietary technologies and strong commercialisation capabilities
e) Ability to acquire quality orders, benefiting from its industry leadership, extensive experience
and seasoned management team
f) Market reputation and brand awareness
Mr. Guo Hong Xin, Executive Chairman of Sunpower, commented:
&ldquo We are very pleased with the excellent performance of the Group&rsquo s businesses. It proves that we have risen to the occasion and weathered the temporary headwinds of the pandemic well in 1H 2020. We were able to achieve a record level of revenue and profits despite the operational constraints of the first quarter. This demonstrated that companies with internally-strong, resilient and adaptable business models are well-positioned to overcome and even thrive in a challenging environment.
Going forward, the Company is well-armed with a natural business resilience through our well-managed businesses and proven expansion strategy sustainable demand for our anti-air pollution environmental protection services the advantages of market leadership, financial strength and proprietary technologies a diversified base of reputable customers and a proven corporate governance record.
For the rest of 2020 and beyond, we will press forward with our GI expansion strategy and be on the alert for opportunities to utilise our Group&rsquo s financial strength, strong cash flow and balance sheet to our advantage.&rdquo
-END-
Forward-looking Statement
This press release includes forward-looking statements and financial information provided with respect to the anticipated future performance and involve assumptions and uncertainties based on the Group&rsquo s view of future events. These forward-looking statements can be identified by terminology such as " will," " expects," " anticipates," " future," " intends, " plans," " believes," " estimates" and similar statements. Among other things, the quotations from management in this press release and the Company' s operations and business outlook, contain forward-looking statements. The actual results may vary from the anticipated results and such variations may be material. Accordingly, there can be no assurance that such projections and forward-looking statements can be realized. No representations or warranties are made as to the accuracy or reasonableness of such assumptions of the forward-looking statements and financial information based thereon. The Group undertakes no obligation to update forward- looking statements and financial information to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. The past performance of the Group is not necessarily indicative of the future performance of the Group.
About Sunpower Group Limited
Founded in 1997, Sunpower Group Ltd. (SGX: 5GD.SI) is an environmental protection solutions specialist in proprietary energy saving and clean power technologies, with a strong focus on expanding into anti-pollution investment projects (&ldquo Green Investments&rdquo ) which generate intrinsic value in the form of long-term, recurring and high-quality cash flows.
With proven capabilities in technology innovation and proprietary clean energy solutions, Sunpower is shaping a green future for itself by continuously developing its business segments of Green Investments (GI) and Manufacturing & Services (M& S). Sunpower has rapidly expanded its GI business in recent
    6

  years by leveraging on its existing core technologies of high-efficiency heat transfer, long distance heat insulated steam distribution, energy saving and ultra-low emission clean power generation. The GI segment is mainly focused on the investment and operation of centralised steam and electricity supply business, which is expected to bring in additional stream of recurring income to the Company.
In the M& S segment, Sunpower has delivered superior quality products and services to approximately 1,500 customers in over 30 countries across the globe to-date. Its reputable customer base includes Wanhua Chemical, Hengli Petrochemical, CNOOC, CNPC, SINOPEC, ExxonMobil, BASF, BP, Shell, etc.
For more information, please refer to: http://en.sunpower.com.cn
    Winnie Lyu
Email: [email protected] Phone: +86 25 5216 9718
August Consulting (Singapore) Silvia Heng
Email: [email protected] Phone: +65 6733 8873
Gregory Yap
Email: [email protected] Phone: +65 9889 5054
Jeremy Sing
Email: [email protected] Phone: +65 6733 8873
                    To subscribe to Telegram updates, please scan the QR code above or email your name and preferred email address to [email protected] for email updates.
  7

 

Slow n steady

 

Anytime will come

 

More room to buy now

 

LETS GO FIREWORKS FOR CNY

 

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Sun today no power...

 

With Dow so " strong" opening 640/645 shld not be a problem.. let see in an hour time..

If abv open price i will add

ody2004      ( Date: 02-Jan-2020 21:17) Posted: if tomorrow if open 640 and clear 645 be good! Tp 700

 

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px break up 620
- too much noise in day chart
- switch to week chart

ew 405 485 425 w3?
w1 80
w2 60
w3 130 tgt 555
- px hit 595 delta 170 up 213%

w4 65 tgt 530
- px hit 510 delta 85 dn 50% over corrected

w5 125 tgt 635 up 50% of 250
- px hit 640
- next tgt up 61.8% of 250 delta 155 tgt 665

SgYuan      ( Date: 16-Dec-2019 14:09) Posted: ew 405 485 425 w3? w1 80 w2 60 w3 130 tgt 555 - px hit 595 delta 170 up 213% w4 65 tgt 530 - px hit 510 delta 85 dn 50% over corrected w5 125 tgt 635 up 50% of 250 - px hit 620 now SgYuan      ( Date: 23-Oct-2019 22:31) Posted: It is really wb up wa dn 620 415 wb up 415 535 wc dn 535 405 ew 405 485 425 w3? w1 80 w2 60 w3 130 tgt 555 - px hit 500 now - px cannot fall below day chart cloud support 470 w4 w5

 

if tomorrow if open 640 and clear 645 be good! Tp 700

 

https://www.nytimes.com/Reuters/2020/01/01/business/01reuters-china-economy-rrr-cut.html

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🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍 🍍

 

🚀 🚀 🚀 🍍 🍍 🍍 🍀 🍀 🍀 🚀 🚀 🚀 🍍 🍍 🍍 🍀 🍀 🍀 🚀 🚀 🚀

 

wave a dn 620 565 delta 55
- day chart baseline support 565

wave b up 565 ?590
- day chart conversion line 590
- px punch up 590 surprised to 615
- volume very high
- if this break up 620 wabc formation break

wave c 615 ?560
- if px break up 620 this is not valid anymore
- day chart cloud support 542

let see tom how it goes

ew 565 ?615 w2?
w1 50
w2 30 tgt 585
- watch support 585
- if break high chance wave c continue

Andynkl      ( Date: 26-Dec-2019 15:11) Posted: Master SgYuan Pls advise next target and support? Tks hmmhmm      ( Date: 21-Dec-2019 18:59) Posted: thank you, maste