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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  VPower Group International Holdings Limited    1608   KYG939541085

VPOWER GROUP INTERNATIONAL HOLDINGS LIMITED

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VPower International : Group Becomes a Distributor of Rolls-Royce Power Systems' MTU Solutions in China

03/30/2020 | 12:27am EST

HONG KONG, Mar 30, 2020 - (ACN Newswire) - - Hong Kong listed VPower Group International Holdings Limited (VPower Group), a leading DPG station owner and operator in Asia, announced that the Group has entered into a distribution agreement with the world's leading engine manufacturer Rolls-Royce Power Systems AG, covering the sales and maintenance of MTU engines and gensets for marine commercial and gas power generation in China.

Since the commencement of partnership in 2008, VPower Group has already integrated over 3GW of MTU power products in its power solutions around the world. Today, VPower Group is the world's largest operator of MTU power generation systems, with a wide range of applications in China and other countries. In addition to its new role as distributor, VPower Group will continue to integrate MTU gas systems as part of its own solution offerings.

Mr. Lam Yee Chun, Chairman of VPower Group, commented, "We share the same goal with Rolls-Royce to provide continuous, economical, reliable and sustainable source of power. We are glad to be its distributor and continue to offer our customers MTU products and service for both gas power generation and commercial shipping applications in China. There is great growth potential in these markets in China - and we want to exploit that potential together with Rolls-Royce."

Mr. Tobias Ostermaier, President MTU Greater China at Rolls-Royce Power Systems AG, said "We are delighted to be taking our successful and close relationship with VPower Group to a new level and welcome VPower Group as an integral part of our MTU global distribution network. VPower Group is a valuable partner bringing in knowhow and capacity of power plant design and operation in China, and most importantly, a strong network in marine industry to support to our market share expansion in China. Together with VPower Group, we want to make MTU the brand of choice for engines and systems in the Chinese commercial shipping and powergen segments and realize significant growth potential in these market segments."

Press release published by Rolls-Royce Power Systems AG is available at https://www.rrpowersystems.com/news/press-releases/press-detail/vpower_group_is_new_distributor_for_rolls_royces_mtu_solutions_in_china/?from=singlemessage

Copyright 2020 ACN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Financials
Sales 2020 3 220 M 415 M 415 M
Net income 2020 569 M 73,4 M 73,4 M
Net Debt 2020 3 099 M 400 M 400 M
P/E ratio 2020 11,8x
Yield 2020 2,12%
Capitalization 6 414 M 827 M 827 M
EV / Sales 2020 2,95x
EV / Sales 2021 2,66x
Nbr of Employees 559
Free-Float 22,1%
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Mean consensus BUY
Number of Analysts 3
Average target price 4,27 HKD
Last Close Price 2,43 HKD
Spread / Highest target 93,4%
Spread / Average Target 75,6%
Spread / Lowest Target 64,6%
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Managers and Directors
NameTitle
Chong Man Lee Co-Chief Executive Officer & Executive Director
Tai Hong Au Yeung Co-Chief Executive Officer & Executive Director
Yee Chun Lam Executive Chairman
Siu Yuen Lo Chief Operating Officer & Executive Director
Kam Shing Chan Chief Financial Officer & Secretary
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