China PV Snippets: Maxwell, Sungrow, Longyuan, Trina

Maxwell Profit To Rise By RMB 36.5 To 405 Mn; China Energy Sign 400 MW PV Project; Sungrow Profit To Rise By 107 To 130%; Longyuan Power Signs 400 MW Project; Trina Net Profit Estimated At RMB 1.201 To 1.328 Bn
01:39 AM (Beijing Time) - 29. January 2021
Maxwell profit to rise by RMB 36.5 to 405 mn

Maxwell’s attributes its expected RMB 36.5 to 405 million profit in 2020 to the steady increase of the sale of solar cell screen printing equipment. (Photo Credit: Maxwell)

Key Takeaways

  • Maxwell announces its 2020 annual performance forecast and the net profit during the reporting period is expected to be RMB 36.5 to 405 million
  • The Yuxian County Government and the Shanxi Branch of China Energy Investment Corporation sign a 400 MW photovoltaic power generation project cooperation agreement
  • The recently released performance forecast of Solar PV inverter supplier Sungrow estimates the net profit in 2020 to be about RMB 1.85 billion to 2.05 billion
  • China Longyuan Power Group and the People's Government of Liaozhong District sign a 400 MW photovoltaic power generation project development agreement
  • Trina Solar releases the 2020 annual performance forecast and its estimated net profit from January to December 2020 is expected to between RMB 120,142 million and RMB 132,789 million

Maxwell 2020 profit to rise by RMB 36.5 to 405 million: Production equipment producer for the solar cell industry Maxwell announced its 2020 annual performance forecast. The net profit during the reporting period is RMB 36.5 to 405 million ($5.64 to $63 million), an increase of 47.45% to 63.61% year-on-year. The company pointed out that during the reporting period, the sale of its main product – solar cell screen printing equipment – increased steadily and this enabled the company to maintain a relatively high growth rate in terms of its sales revenue and operating profit in 2020.

China Energy signs 400 MW PV project in Yuxian County: The Yuxian County Government of Yangquan City, Shanxi Province and the Shanxi Branch of China Energy Investment Corporation signed a 400 MW PV power generation project cooperation agreement. The project will be constructed in 2 phases, with an estimated investment of about RMB 1.8 billion ($0.28 billion). The installed capacity of first phase will be 200 MW, while the remaining 200 MW will be completed in the second phase.

Sungrow’s 2020 profit to rise by 107 to 130%: The recently released performance forecast of Solar PV inverter supplier Sungrow estimates that the net profit in 2020 will be about RMB 1.85 billion to 2.05 billion ($0.29 billion to $0.32 billion), a year-on-year increase of 107% to 130%. The basic earnings per share is estimated to be RMB 1.27 to 1.41 ($0.20 to $0.22). Few months back, the company had reported strong financials for Q3/2020 with its operating income growing 82.5% annually to a total of RMB 5 billion ($748 million) and net profits having increased a whopping 238% YoY to RMB 749 million ($112 million) (see Sungrow’s Q3/2020 Net Profits Grew 238% Annually)

Longyuan Power signs 400 MW PV project in Liaozhong: China Longyuan Power Group and the People’s Government of Liaozhong District signed a 400 MW PV power generation project development agreement. Last year, the wind power producer had partnered with the People’s Government of Wubao County to develop a 1 GW solar and wind power agrivoltaic project in Shaanxi province (see China PV News Snippets: Longyuan, Lead, Trina Solar)

Trina Solar’s net profit to be at RMB 1.201 to 1.328 billion: Chinese PV company Trina Solar released the 2020 annual performance forecast and its estimated net profit from January to December 2020 is expected to be between RMB 1.20 billion  and RMB 1.38 billion. Compared with the same period of the previous year, it will increase by a range of RMB 561 million ($87 million) to RMB 687 million ($106 million), an increase of up to 107% year-on-year. In October 2020, Trina Solar had confirmed it achieved a net profit of RMB 831.6 million ($124 million) during the first 9 months of the year, representing an annual increase of 118.94% (see Trina Solar’s Profit And Revenue Up In Q3/2020)

 

Meena Nair

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Meena Nair