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Sunpower returns to profitability with 1Q earnings of $17.3 mil

Samantha Chiew
Samantha Chiew5/14/2018 10:39 PM GMT+08  • 2 min read
Sunpower returns to profitability with 1Q earnings of $17.3 mil
SINGAPORE (May 14): Sunpower Group recorded 1Q18 earnings of RMB 82.3 million ($17.3 million), compared to a loss of RMB 83.5 million.
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SINGAPORE (May 14): Sunpower Group recorded 1Q18 earnings of RMB 82.3 million ($17.3 million), compared to a loss of RMB 83.5 million.

However, if the results did not include the financial effects of convertible bonds, the group’s 1Q18 earnings would have increased 1.7% to RMB 30.9 million from RMB 30.4 million in 1Q17.

Revenue for the quarter rose 81.1% to RMB 621.5 million, compared to RMB 343.2 million a year ago, mainly attributed to an increase in revenue from the group’s Green Investment (GI) business from the Changrun and Xinyuan projects, as well as an increase in the group’s manufacturing and services (M&S) revenue as its order book increases.

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