“Build back better” appears to have well and truly begun at Chinese green energy firm Sunpower, which announced a record RMB377 million ($77.4 million) earnings (or PATMI) in the FY2020 ending December. This marks a 7% y-o-y increase from the RMB352.2 million recorded in FY2019 and exceeds its convertible bond performance target of RMB370 million. 

Including the financial effects of convertible bonds and warrants, Sunpower, however, saw a 140.2% y-o-y plunge to a RMB55.6 million loss for the FY2020.

In the announcement of its FY2020 whole-year results on Feb 26, Sunpower reported that group revenue rose 12.6% y-o-y to RMB4.05 billion, while gross profit increased 10.5% y-o-y to RMB981.5 million for the period.

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