Sunpower secures RMB43.56 M contract from Zhejiang

Mainboard-listed Sunpower Group Ltd., an environmental protection solutions specialist with a leading edge in anti-pollution investment projects (“Green Investments” or “GI”) that generates long-term intrinsic value in the form of recurring income and cash flows, has signed a RMB43.56 M contract to provide high-efficiency heat exchangers with its repeat customer Zhejiang Petrochemical Co., Ltd.

Sunpower will provide high-efficiency heat exchangers for one of China’s largest domestic atmospheric and vacuum pressure units with an annual capacity of 10 million tons, which is part of Phase 2 of Zhejiang Petrochemical’s refinery and chemical integration project (the “Project”). The Project is included in China’s “13th Five-Year” National Petroleum and Chemical Plan. Sunpower kicked off its partnership with Zhengjiang Petrochemical in 2017 when it supplied heat exchangers and coolers in Phase 1 of this Project. With delivery at the end of FY2019, a positive impact on the Group’s FY2019 and FY2020 results is expected.

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