ACN Newswire

VPower Group Signs Strategic Cooperation Agreement with Fuyao Group

indie
2 minutes

HONG KONG, Oct 20, 2021 - (ACN Newswire via SEAPRWire.com) - VPower Group International Holdings Limited ("VPower Group" or the "Group", stock code: 1608.HK), joining hands with China National Technical Import and Export Corporation and Fuzhou Xutong Industrial Technology Co., Ltd. as a consortium, entered into a strategic cooperation agreement of modern energy management and implementation with Fuyao Glass Industry Group Co., Ltd. ("Fuyao Group"). The signing ceremony was successfully held at the headquarters of Fuyao Group on 19 October.Leveraging the respective strengths and experiences of each member, the consortium will become an energy management contracting service provider of Fuyao Group. According to the agreement, comprehensive strategic cooperation will be pursued in the area of modern integrated energy management, including renewable energy, smart energy management and carbon asset management, on a complementary and mutually beneficial basis. "We are pleased to become a partner of Fuyao Group through the consortium," said Mr. Boyang Liu, Chief Investment Officer of VPower Group, "We will provide support on integrated energy management to Fuyao Group and its subsidiaries...

ACN Newswire

VPower Group Announces Positive Profit Alert, Net Profit Expects to Grow Significantly by over 70%

indie
2 minutes

HONG KONG, Jan 25, 2021 - (ACN Newswire) - VPower Group International Holdings Limited ("VPower Group", stock code: 1608.HK) has announced a positive profit alert that the net profit of the company for the year ended 31 December 2020 is expected to increase by more than 70% as compared with that of HK$283.6 million for the year of 2019. The expected increase is mainly attributable to the growth of both the power system integration (SI) business and the Investment, Building and Operating (IBO) business, and the significant contribution from VPower Group's joint venture, CNTIC VPower Group Holdings Limited ("CNTIC VPower"). VPower Group's potential should be on investors' watch. CNTIC VPower is a 50-50 joint venture of VPower Group and China National Technical Import and Export Corporation ("CNTIC") established last year to jointly develop Myanmar's first batch of liquified natural gas (LNG)-to-Power projects, and provide one-stop LNG solution integrating LNG import, logistics, storage and regasification to the country. These projects have an aggregate installed capacity of 1,059.5MW, which exceeded the total capacity of all projects invested by VPower Group in the past few years. Up...