Sunpower Enters Into the China Energy Group Top 500 List

Organized by China Energy News Agency and the China Energy Economics Research Institute, the China Energy Group Top 500 is an annual listing of top-performing companies in China in the energy sector

December 18, 2019. By News Bureau

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Sunpower Group Ltd has announced that the Group has earned a position in the China Energy Group Top 500 List for the first time on the back of the rapid expansion of its GI business and the continued growth of its overall business.

Organised by China Energy News Agency and the China Energy Economics Research Institute, the China Energy Group Top 500 is an annual listing of top-performing companies in China in the energy sector. First launched in 2010, the list provides a comprehensive overview of the top players evaluated with an internationally-accepted framework based on their prior year's operating income. The entry barrier that companies must meet to be included has been steadily raised in the past six consecutive year, demonstrating the steady growth of the profitable energy industry in China.

Guo Hongxin, Executive Chairman of Sunpower, commented: "We are extremely pleased to achieve a place in this ranking. Our GI projects have provided clean steam, heat and electricity over the last few years, and we have achieved rapid growth in this segment. Our efforts in GI segment have paid off in strong revenue and income growth of the Group, which paved the way for Sunpower to be featured in the China Energy Group Top 500 List for the first time. This is a strong testament to Sunpower's leading position in the industry and may provide a springboard to elevate our brand and reputation, leading to new business opportunities.

"Positioning our GI business as our value creator and growth driver has produced results and will continue to underpin our future growth prospects. With a GI portfolio of 8 operational projects located strategically within key industrial parks, together with 5 projects under construction and/or at in the design phase, as well as a robust pipeline of projects under evaluation, we have built the capability to deliver high-quality recurring long-term income and cash flows, supported by our strong balance sheet and cash generation ability."

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