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VPower Group’s First Investment of DPG Project in Latin America Commenced Official Operation

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VPower Group International Holdings Limited(“VPower Group” or the “Group”, stock code: 1608), a leading DPG station owner and operator in Southeast Asia, is pleased to announce that, the Group’s first investment of 80 MW heavy fuel oil (“HFO”)-fired DPG project in Peru (the “Project”) has recently commenced commercial operation.

On 16 May 2017, the Group entered into a USD$30 million 3-year convertible loan agreement with F.K. Generators and Equipment Ltd in relation to the Project. The Project runs on 7 units of medium speed HFO power generation system under a 20-year concession period granted by the Peruvian Ministry of

2017 Interim Results Announcement
IBO Business Powers the +176.5% year-on-year Net Profit Growth

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Result Highlights

  • Net profit soared 176.5% to HK$150.2 million
  • Revenue increased by 34.8% to HK$936.4 million, mainly driven by the 95.4% and 14.8% growth in IBO and SI business respectively
  • IBO business accounted for 36.1% of the total revenue and 59.8% of gross profit respectively, becoming the Group’s major growth driver
  • Total gross profit surged by 58.0%, reaching HK$329.0 million. Gross profit of IBO and SI business increased 97.8% and 21.5% respectively
  • Overall gross profit margin increased 5.1ppt to 35.1%, attributable to the high growth of IBO business which has a higher gross profit margin
  • VPower Group International Holdings Limited