SFCE Releases 2014 Financial Report with Record Profits and Strong Annual Figures

HONG KONG, March 31, 2015 /PRNewswire/ -- Shunfeng International Clean Energy Limited (SFCE), the world's leading low-carbon integrated energy solution provider, announced its financial results for the 2014 fiscal year ending December 31.  SFCE saw a 275.6% increase in total revenue from RMB 1.5 billion ($241 million) in 2013 to RMB5.7 billion ($917 million) in 2014; a 741% increase in gross profit from RMB 151 million ($24 million) to RMB 1.3 billion ($209 million); and a net profit of RMB 1.3 billion ($209 million) compared to a RMB 1.8 billion ($289.5 million) loss in 2013.

SFCE's net profit and revenue rose due to the substantial increase in the manufacturing and trading of its solar products following the acquisition of Wuxi Suntech in April 2014. SFCE's sales volume of solar products increased by 159.7% to 3,238.5MW compared to 1,094.7MW in 2013. Additionally, SFCE's solar power plants, which were connected to the grid in 2013 and 2014, began operation and are now generating income reaching a total of 607,793MWh.

Mr. Zhang Yi, Chairman of SFCE said that "SFCE experienced a great year in 2014. We expanded our scope and overseas business through large-scale acquisitions and industry consolidation. These efforts have helped to transition SFCE from a primarily solar power-based company into a leading global energy supplier and low carbon energy solutions provider. In 2015 the company will continue to focus on solar energy, and expand to other clean energies, including from wind, geothermal and sea water based energy sources. We are also focusing on the development of energy storage technologies and energy storage products, and will compliment all of these with innovative and energy efficient application solutions. Together our new and upcoming products and services position us well as leader in the entire clean energy ecosystem."

In 2014 the company began to diversify its business by expanding the construction and operation of its energy storage business, photovoltaic inverter business and manufacturing of solar products. This effort helped SFCE to achieve its vision of creating low-carbon urban environments.   The acquisition and reorganization of Wuxi Suntech was successfully carried out during the year, and SFCE will continue to invest in Suntech's first-class products, technology and services.

In 2014, SFCE also  acquired 28% equity interest in Everpower, a US-based company focuses in hydrogen energy storage and hydrogen power generation; 30% equity interest in Powin Energy, an energy storage battery management technology company; as well as in the inverter and BIPV business of Sunways AG, a German-based company.  SFCE also successfully acquired S.A.G. Solarstrom, a German solar energy enterprise, which will help SFCE to enhance its portfolio and capability in developing solar energy projects through EPC services and monitor PV stations. It will also strengthen the company's position in Europe and the United States. 

Eric Luo, the CEO of SFCE, said that "As we continue the momentum from 2014, we are preparing to introduce 3 low-carbon, integrated energy efficiency solutions to the global market: low-carbon cities, low-carbon communities and low-carbon households. Our latest low-carbon energy-saving integrated solutions will bring about an overall energy-savings of up to 50% to 70%.  We are also exploring other green energy technologies including air and sea-water ion batteries."

2015 is already seeing major milestones for SFCE.  SFCE signed an agreement with Nobao Renewable Energy Holdings, a leader in China's ground source heat pump (GSHP) technology industry to jointly research and develop technologies for large scale heating and cooling supply technology.  Also contributing to SFCE's low-carbon cities and communities vision were the company's partnerships with Lattice Power, a mass producer of LED lighting and GreenWheel EV, the leading electronic vehicle company in China.

About Shunfeng International Clean Energy Limited   

Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the world's largest low-carbon, integrated, energy solution provider. Through strategic acquisitions and integration, SFCE owns a number of well-known product and technology brands in the industry. SFCE fosters a continuous improvement in energy generation including in solar, wind, ocean power and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households. SFCE's energy solutions can achieve energy cost reductions of 50% - 70%, creating energy generation choices for its customers to reduce both carbon emissions and energy costs.

SOURCE Shunfeng International Clean Energy Limited