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Xinhua Silk Road
Industry

​China's PV industry flourishes, benefiting industrial chain firms

January 29, 2021


Abstract : China's photovoltaic (PV) industry is booming as many industrial chain companies have disclosed gratifying annual performance forecasts on Thursday night, reported Securities Daily Thursday.

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Aerial photo taken on Aug. 17, 2020 shows a photovoltaic power station at the green industrial development park in the Tibetan Autonomous Prefecture of Hainan, northwest China's Qinghai Province. (Xinhua/Zhang Long)

BEIJING, Jan. 29 (Xinhua) -- China's photovoltaic (PV) industry is booming as many industrial chain companies have disclosed gratifying annual performance forecasts on Thursday night, reported Securities Daily Thursday.

LONGi Green Energy Technology Co., Ltd. (601012.SH) announced that the net profit attributable to shareholders of the listed company in 2020 might increase by 55.3 to 62.88 percent year on year to 8.2 to 8.6 billion yuan.

Due to the small performance base in 2019 and driven by the strong demand in the PV market, PV glass and PV accessories companies may generally see a better performance in 2020.

Luoyang Glass Company Limited (600876.SH) predicted that the company's net profits might surged by 456 to 530 percent year on year to 246 to 286 million yuan in 2020, and the figure was 54 million yuan in 2019.

Henan Ancai Hi-tech Co.,Ltd. (600207.SH) expected a net profit of about 120 million yuan in 2020, up 503 percent year on year.

Sichuan EM Technology Co., Ltd. (601208.SH) forecast a net profit increase of 103 to 123 million yuan in 2020, rising by 140.66 to 168.10 percent.

Thanks to the prosperous development of the PV industry, machinery companies also embrace soaring performances.

Wuxi Shangji Automation Co., Ltd. (603185.SH) forecast a net profit of 530 to 580 million yuan in 2020, an increase of 186 to 213 percent.

Beijing Jingyuntong Technology Co., Ltd. (601908.SH) expected a net profit increase of 132 to 198 million yuan in 2020, growing by 50 to 75 percent year on year.

A batch of PV companies have announced capital and production expansion plan in 2021, signaling continuous prosperity of the PV industry after the high growth in 2020.

According to IHS Markit, a third-party research institute, in 2021, 158GW of PV installed capacity may be added globally, an increase of 34 percent from the expected figure in 2020.

(Edited by Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: China photovoltaic industry

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