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Sunpower’s 1H2009 net profit increases by 34.0% to RMB26.7 million (05 Aug 09)

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  • Revenue: -3.01% (2Q09), -2.86% (1H09)
  • Net Profit: +20.59% (2Q09), +36.20% (1H09)
  • Press Release: Revenue in 1H2009 amounted to RMB268.9 million backed by strong contributions from Heat Exchangers and Pressure Vessels segment
  • Net cash from operations in 1H2009 turned positive at RMB10.6 million backed by improved working capital management
  • Order-book value at RMB861.0 million to date, with more than half to be delivered in 2H2009
  • Outlook: As the global economy is seeing signs of slow recovery, some of Sunpower’s customers are resuming their projects which were previously suspended.
  • As the economy begins to recover, Sunpower can expect an increase in demand for its products and services attributable to both existing projects and new projects.
  • Total orders on hand amounted to approximately RMB 861.0 million as at the date of this announcement.
  • Barring any unforeseen circumstances, the Group expects to remain profitable in FY2009.

FINANCIAL RECORDS

Revenue (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 105,388 163,506
2008 108,234 168,572

FY 1H 2H Total
2008 276,806 489,931 766,737
2007 181,036 379,039 560,075
2006 170,679 216,699 387,378
2005 99,493 141,438 240,931
2004 100,492 100,214 200,706
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Earnings (RMB '000)

FY 1Q 2Q 3Q 4Q Total
2009 7,125 17,359
2008 3,582 14,395

FY 1H 2H Total
2008 17,977 22,159 40,136
2007 14,168 18,519 32,687
2006 17,973 18,251 36,224
2005 14,738 3,864 18,602
2004 22,787 18,821 41,608
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Dividends

FY Interim Final Special (SGD)

NA
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Bonus / Rights / Stock Split

Date Type Details

NA
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Share Data (RMB)

NAV = $0.7729
EPS = $0.0744 (6M FY09)
No of Shares = 329,000,000
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date

NA



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