1. Bring water to a boil; melt lard in water. Turn off heat and slowly stir in baking powder and flour. Mix until smooth.
2. Slowly add beaten eggs. Blend well.
3. Heat oil in wok over medium-high heat (about 330-340°F or 165-170°C). Using a small ladle, drop 1-1 1 1/2 tablespoons (15-22 ml) of batter into oil. Deep-fry over medium-low heat until balls triple in size. Keep turning to allow uniform cooking.
4. Roll fried egg balls in sugar.