VPower Group International Holdings Limited (“VPower Group” or the “Group”, stock code: 1608.HK) is honoured with the “2018 Hong Kong Awards for Industries: Upgrading and Transformation Grand Award” by the Hong Kong Young Industrialists Council in recognition of its distinguished ability and achievements in business upgrading in the ever-changing market. The awards presentation ceremony officiated by Mrs Carrie Lam, Chief Executive of the HKSAR, was held at Hong Kong Science Park on 11 December 2018.

As a world-renowned power generation system integration (SI) provider, VPower discerned the global advancement towards green future and entered into the distributed power generation market in 2012 by investing in, building and operating distributed power stations (i.e. IBO business) in Southeast Asia. Armed with strong management capabilities, industry expertise and extensive business network, the Group’s IBO business has grown rapidly, making it a major owner and operator of distributed power stations in Southeast Asia. Currently, the Group owns more than 10 distributed power stations globally.

Mr. Samson Lam, Executive Chairman of VPower Group, expressed his heartfelt gratitude to the organiser and the judging panel for their acknowledgement and said, “We are incredibly pleased to receive such honour, which is a supreme recognition of our continuous effort to strive for improvements and the achievements we have made over the years. Since we started IBO business in 2012, we have strategically focused on regions along the Belt and Road Initiative in order to underpin local economies and improve local residents’ livelihood with our fast-track distributed power solutions. Recently, we have stepped up expanding our business footprint in the Latin America and Europe to support their energy transition. Upon the completion of business upgrading and transforming, we continue to upgrade our power solutions and introduce more advanced systems. Progress we have made includes launching our first biogas project which equips with combined heat and power system in China this year and incorporating Organic Rankine Cycle (ORC) technology into a soon-to-be-completed new project in Myanmar to enhance energy efficiency. Our diversified projects portfolio and business network not only strengthen our industry position, but also support our ambitious business development plan fulfilling our mission to become a global leader. Looking ahead, the Group will continue creating best values for our stakeholders while embracing our corporate sustainability and social responsibility.”

At the full support of the HKSAR Government, the Hong Kong Awards for Industries was launched in 2005, by merging the former Hong Kong Awards for Industry and Hong Kong Awards for Services, established in 1989 and 1997 respectively. It aims to recognise the outstanding performance and achievements of Hong Kong enterprises in enhancing their competitiveness in various aspects. The Hong Kong Awards for Industries comprises seven categories, among which the Upgrading and Transformation category is organised by the Hong Kong Young Industrialists Council, with the objective of encouraging and recognising those enterprises that have reformed their core business to adapt to the ever-changing market and business environment through participating in the upgrading and transformation programme so as to continuously enhance the competitiveness of Hong Kong enterprises, and affirming the importance of upgrading and transformation to the industrial sector as well as Hong Kong’s economy.