Ginlong Solis' PV inverter sales established new documents

• PV inverter supplier Ginlong Solis has set new quarterly as well as half-year earnings figures as the firm remains to broaden its worldwide footprint and also string inverter item profile.

Ginlong Solis reported running earnings (earnings) of RMB 727.49 million (US$ 106.3 million) for the very first half of 2020, a brand-new record and also a year-on-year rise of 76.63%.

Although COVID-19 had affected first quarter procedures and income, the company highlighted that both residential and also overseas sales remained to expand through the initial half of the year compared to the prior year duration.

The company also noted that due to its growth into more abroad markets, the impact from COVID-19 was restricted in the very first quarter of 2020 and enabled concentrate on markets less influenced by the pandemic in the 2nd quarter to enhance sales.

Increased sales and also manufacturing capacity growths, alleviating capability restraints and enhancing economic situations of range as string inverter appeal continued to obtain market share. Ginlong Solis kept in mind that the China Photovoltaic Industry Association had reported that the market share of string inverters in China PV releases had reached 59.04%.

These variables supported a substantial rise in web profit, which enhanced 281.87% in the reporting duration to RMB 118.32 million (US$ 17.29 million), compared to the previous year period.

With the intro of high-power string inverter versions above 200kW, as well as the technological breakthrough of 1500V string inverters, implies more market gains are anticipated, according to the business.