Ginlong Solis informs of an 82% revenue growth in the third quarter of 2019
- The major string solar inverter supplier is going to focus on large-scale solar projects development along with engineering, procurement, construction and commissioning in China
Ginlong Technologies Co. informs that the company’s revenue in 3rd quarter of the current year exceeded 50 mil USD compared with a year earlier.
Such a revenue boost represented a year-over-year growth exceeding 80 per cent. Solis’s net income amounted to $6.8 mil, which is a 53 per cent jump compared to the previous year.
The company’s management states that such an income growth was possible thanks to the market development, lots of purchase orders along with increasing industrial capability and marketing activities.
In March last year, Solis was included in the Shenzhen Stock Exchange’s list of public entities. It was the first solar inverter manufacturer in the SSE’s listing. The solar supplier states that it enables them to employ more researchers and developers and to provide the key staff with more training.
Moreover, the string inverter supplier is going to expand the market across the large-scale solar industry. The firm invested over $8.5 mil in creation of a sub-company – Ginlong Smart Energy. The subsidiary will be involved in large-scale photovoltaic systems development and EPD contracts in China.
