Last year Shunfeng acquired Wuxi Suntech, the core Chinese production unit of fallen PV module powerhouse Suntech.

Shunfeng posts strong 2014 results on back of Wuxi Suntech acquisition

Shunfeng International Clean Energy recorded a 1.3bn yuan ($209.5m) net profit in 2014, from a 1.8bn yuan deficit a year earlier, as the group’s acquisition of Wuxi Suntech sharply drove up its sales of PV products.

30 March 2015 8:14 GMT Updated 28 September 2016 9:44 GMT

By Brian Publicover in Tokyo

The company — which lacked a PV module production unit in 2013 — shipped 645.1MW of solar panels last year, according to a statement on the Hong Kong stock exchange.

Revenue from the group’s solar product business soared 241.9% on the year to 5.2bn yuan.

Shunfeng’s April 2014 acquisition of Wuxi Suntech — the former Chinese production unit of fallen PV module giant Suntech Power – contributed significantly to the group’s business last year.

“The

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Shunfeng posts strong 2014 results on back of Wuxi Suntech acquisition