China PV News Snippets

• LONGi's net profit during third quarter of 2021 at RMB 2.5 billion ($0.40 billion), a year-on-year increase of 14.39%
• Changyuan Electric Power to set up subsidiary in Shishou for agricultural and photovoltaic power generation project
• Ginlong Technologies achieves an operating revenue of about RMB 850 million, an increase of 36.35% year-on-year
• China TBEA to invest RMB 1.45 billion in the construction of new energy power plant projects
• GoodWe achieves an operating revenue of RMB 632 million in the third quarter this year, up 39.45% year-on-year

LONGi achieves RMB 2.5 bn net profit in 2021 Q3: Releasing its third quarter report for 2021, Chinese vertically integrated solar PV company LONGi said that its net profit during this period was RMB 2.5 billion ($0.40 billion), a year-on-year increase of 14.39%, and the net profit in the first 9 months was RMB 7.5 billion ($1.17 billion), a year-on-year increase of 18.87%. The report pointed out that the main reason for the increase in operating income was the increase in PV module sales. In the upcoming TaiyangNews Virtual Conference on Solar Module Innovation, LONGi will be speaking on the topic – New Results On Latest Bifacial Module Designs In Power Plants. For Free Registration to the Conference, please click here.

Changyuan Electric Power to establish a subsidiary: Changyuan Electric Power announced its intention to set up a subsidiary in Shishou. The new company, with an investment of RMB 120 million ($18.77 million), will focus on constructing Shishou City's agricultural and photovoltaic power generation project.

Ginlong reports 36.35% rise in operating revenue: Chinese solar PV inverter manufacturer Ginlong Technologies released its third quarter results, which showed that the company has achieved an operating revenue of about RMB 850 million ($133 million), an increase of 36.35% year-on-year. The net profit attributable to shareholders of the listed company was about RMB 125 million ($19.55 million), an increase of 35.94% year-on-year. This increase in operating income was mainly due to the increase in product shipments. Earlier this year, Ginlong had raised RMB 533 million towards expansion (see Ginlong IPO Fetches $79 Million). Solis, the inverter brand name of Ginlong, presented its latest rooftop product updates at TaiyangNews Rooftop Solar Inverters Conference in Oct. 2021 (the conference recordings are accessible here).

TBEA to invest in new energy projects: Solar PV inverter company from China TBEA announced plans to invest RMB 1.45 billion ($0.23 billion) in the construction of new energy power plant projects. Here are the details of what the company plans to invest and construct:

• 102 MW wind power project in Xifeng for an investment of RMB 76,919 million ($12,029 million)
• 50 MW photovoltaic project in Huocheng for RMB 204,914 million ($32,045 million)
• 80 MW photovoltaic project in Xiangwan for RMB 36,252 million ($5,670 million)
• 20 MW photovoltaic project in Dunhuang for RMB 113,700 million ($1,7781 million)

GoodWe operating revenue at RMB 632 mn in Q3/2021: Solar inverter manufacturer GoodWe achieved an operating revenue of RMB 632 million ($98.83 million) in the third quarter of 2021, up 39.45% year-on-year, the company  announced. The net profit attributable to shareholders of the China stock-listed company was 0.62 billion RMB ($.097), down 21.16% year-on-year. The operating income rose, GoodWe said, due to continual expansion in the domestic and foreign markets for PV inverters.