The outlook is based on a preliminary review of unaudited management accounts for the 2016 calendar year, Kong Sung Holdings said in a statement to the Hong Kong stock exchange.
Sales of electricity generated by its PV assets likely hit 561 million yuan in 2016, from 118 million yuan a year earlier.
Kong Sun — which had roughly 1.15 GW of cumulative installed solar capacity in China by the end of December — also benefited from the disposal of affiliated companies, for a total 109 million yuan one-off gain.
However, the group expects a 67.3% year-on-year decline in its overall turnover for the twelve months to the end of December, underscoring its shifting focus from sales of solar products to investment in higher-margin electricity sales.
It has yet to finalize its annual results for 2016.
Kong Sun jumped from property investment to PV in 2014, after raising roughly HK$2.3bn ($296.4 million) in a share placement.
The group, which primarily uses financial leasing to raise money for projects, finalized a 5 billion yuan financing deal in November with China Kangfu International Leasing.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.