Ginlong Solis worth US$ 1.55 billion

저자：Solis 시간：2021-07-20 00:00:00.0 페이지뷰：558

On July 10th, the share price of Ginlong Solis rose by its daily limit.

Ginlong Solis released the first half's earnings forecast of 2020 in the evening of July 9. According to the announcement, the company expects to achieve a net profit attributable to listed company shareholders of US$ 15-18.5 million from January to June, which increases from 238.86% to 319.54% Year-on-year.

As a result , Ginlong solis's shares rose strongly and by the close of trading on July 10th, the company's shares had risen by its daily limit, with a total market value of US$1.55 billion.

"During the reporting period, coVID-19 brought some inevitable pressure and challenges to Ginlong Solis. However, the company's capacity rapidly recovered increased to seize more domestic and foreign market share through the positive response of the company." Ginlong Solis pointed in the announcement that due to the recent rapid recovery of overseas market demand, the shareholders of listed companies will increase significantly during the reporting period.

As a leading manufacturer of string inverters, Ginlong Solis has achieved steady growth in recent years. In Q1 of this year the company reported its strongest ever quarter. The company realized a revenue of US$40.28 million, up 75.49% year on year, meanwhile the net profit attributable to shareholders of the listed company increased to US$ 8.4 million with profits up 766% v's the same period in 2019. Yiming Wang, the president of Ginlong Solis, said that the company has launched some new products since Q3 of 2019. At the same time, the company promoted sales in traditional and emerging markets with marketing channels and marketing teams. Solis expansion into overseas markets continues to increase with the growth of Ginlong Solis's overseas offices, the company's product improvements, new technology response and competitive prices. As a result, , Ginlong Solis boosted its global market share.

In Q3 of 2020, since there is no time limit for pre-installation of residential systems, the average monthly installation numbers continue to grow. Sales of commercial inverters are growing rapidly as component and system costs continue to come down. "We expect several markets may exceed 1GW each year, and there will be a gradual improvement over time as installations accumulate and years of use grow."

The export shipments of domestic photovoltaic inverters reached 24.2GW, with a total export value of US$ 830 million from January to May. Ginlong Solis ranked third among these suppliers with a total export value of US$ 58 million.

After landing A - share market, Ginlong Solis increased its financing. Recently, the company announced the revised plan of the fixed rights issue; the total amount to be raised is not more than US$ 103 million. This funding will be used for the projects of annual output of 400,000 sets of string inverters and energy storage inverters etc.

Ginlong Solis have taken the decision to simplify their company name "Ningbo Ginlong Technologies Co., Ltd." to "Ginlong Technologies Co., Ltd." by deleting "Ningbo", which is the name of our city. The abbreviation for company remains the same.

Ginlong Solis said the implementation of the name change demonstrates the company's determination to operate globally and focus on its core strategy of "technological innovation".

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Ginlong Solis worth US$ 1.55 billion

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