Sunpower Group Ltd.
Annual Report 2011
01 02 04 08 10 12 15 16 17 29 84 86 Corporate Profile Sunpower’s Innovation Chairman’s Statement Financial and Operations Review Financial Highlights Board of Directors Key Management Corporate Information Corporate Governance Report Financial Statements Statistics of Shareholdings Notice of Annual General Meeting
a Specialist in Energy-Saving, Energy-Efficiency and Environmental protection Business Sunpower Group started in April 1997, listed on SGXSESDAQ in March 2005 and was subsequently upgraded to the Mainboard in August 2007. The Group specialises in the design, R&D and manufacture of customised energy-saving, energy-efficiency and environmental protection products and solutions, using proprietary heat-transfer technologies tailored for the petrochemical, chemical, polysilicon, coal chemical, pharmaceutical, tobacco, metallurgical, and transportation industries. From the initial business of making pipe supports, Sunpower went on to develop other related products such as heat exchangers and pressure vessels in 1998, heat pipes and heat-pipe exchangers in 1999 for the recovery of waste heat in petrochemical, steel and chemical projects. In 2003, Sunpower successfully developed its proprietary environmentally friendly energy-saving and environmental protection systems. These systems are used to recover petrochemical by-products contained in the flare gas generated during the production process in a petrochemical refinery. In 2010, the Group was awarded with the “Technology Innovation High Achievement Award” in the development and application of energy efficient heat exchanger given out by China Association for Quality 2010. In 2011, the Group spearheaded to set the national standards for Heat Pipes and also participated in drafting the national standards for core heat pipes and coreless heat pipes which were eventually approved and promulgated. Through providing many years of outstanding services, the company has established a reputable brand in the markets. Among Sunpower’s key customers are international companies such as BP, BASF, SABIC, Dow, Technip, Celanese, Shell, CTCI, Samsung, Hyundai, TOYO and their joint ventures in China; domestic major industrial groups such as CNPC, SINOPEC, CNOOC, ChemChina, CREC, Shenhua Group, GCL-Poly etc. Sunpower has been designated as a supply network member of SINOPEC Group Materials and Equipment as well as the first-tier supplier of CNPC Group. In 2011, Sunpower was able to export its products to the Middle East for the first time by winning SABIC’s PTA project to supply core equipment. To satisfy the complexities of client’s requests, Sunpower continuously engaged in R&D, introducing proprietary technology, coming up with innovative solutions and has achieved many excellent results. So far, the Group has registered 76 technological patents and 4 products were used to set the benchmarks for national standards. Sunpower was approved by the PRC Ministry of Human Resources and Social Security to establish a “Postdoctoral Programme”, and has been designated by the PRC Standardisation Administration as “Working Group on Thermal Pile of National Technical Committee on Traffic Engineering Facility (Highway) Standardisation Administration of China”. Sunpower also established the “Nanjing Permafrost Engineering Center of the Chinese Academy of Sciences”, and set up “Jiangsu Engineering Research Center for Energy-Saving” under the approval of Jiangsu Department of Science Technology. Meanwhile, the “Research Institute for Industrial Energy-Saving” was also established. After many years of hard work and dedication, the Group’s market diversification strategy has successfully garnered marked achievements. The Group now exports to overseas countries and regions such as the United States, Europe, Australia, Southeast Asia, South Asia, Central Asia, South America and the Middle East. In recent years, under the...
Please join StudyMode to read the full document