About Linyang photovoltaic panels have made profits
Jiangsu Linyang Energy Co.,Ltd. () (601222.SH) reported a net profit of 869.6 million yuan in the first three quarters of 2023, up 17% year-on-year. Meanwhile, the company posted 4.7 billion yuan in revenue, up 31.8% year-on-year.
Jiangsu Linyang Energy Co.,Ltd. () (601222.SH) reported a net profit of 869.6 million yuan in the first three quarters of 2023, up 17% year-on-year. Meanwhile, the company posted 4.7 billion yuan in revenue, up 31.8% year-on-year.
Linyang Energy announced 2021 results: Revenue fell 8.7% YoY (up 25.6% from 2019) to Rmb5.3bn, blended gross margin (GM) edged up to 35.4%, and attributable net profit declined 6.7% YoY to Rmb930mn, missing our expectation on rising costs and slow progress in photovoltaic (PV) power plant development.
Jiangsu Linyang Energy Co., Ltd. (hereinafter referred to as the “Company”) is expected to achieve a net profit attributed to its shareholders between 980 RMB million and 1.120 RMB billion in 2020, which will increase between RMB 280 million and RMB 420 million compared with the same period last year, with an increase between 40% and 60%.
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China’s biggest photovoltaic manufacturers reported surging profits in the first half of 2023 driven by strong demand and an uptick in panel sales, but warned about imminent overcapacity as a result of ramped up production.
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4 FAQs about [Linyang photovoltaic panels have made profits]
Who is Linyang energy?
Shanghai-listed Linyang Energy has announced the signing of an agreement with the government of Bengbu City, in Anhui province, to build a renewable energy complex comprising a 1.5 GW solar farm, a 500 MW wind power plant, and a 400 MW/800 MWh energy storage facility.
How much will Linyang invest in renewables projects?
According to Linyang’s statement, the renewables projects will be integrated with local industry and will include fishpond aquaculture and agriculture. The company wants to invest around RMB10.8 billion (US$1.67 billion) in the project, which is scheduled for completion within four years.
Are China's photovoltaic manufacturers overcapacity?
China’s biggest photovoltaic manufacturers reported surging profits in the first half of 2023 driven by strong demand and an uptick in panel sales, but warned about imminent overcapacity as a result of ramped up production.
What are China's leading photovoltaic module makers doing in the first quarter?
JinkoSolar, Long, JA Solar, and Trina Solar have all reported impressive growth figures for the first quarter of this year. China's leading photovoltaic module makers have reported strong financial results for the first quarter of 2023. JinkoSolar posted revenue of CNY 23.33 billion ($3.4 billion), up 58% year-over-year.