Caixin
Oct 22, 2022 07:45 PM
BUSINESS

World-Leading Chinese Solar Panel Makers Report Surge in Preliminary Earnings

Solar panels are assembled at a factory in Hefei, East China's Anhui province, on June 29. Photo: VCG
Solar panels are assembled at a factory in Hefei, East China's Anhui province, on June 29. Photo: VCG

Three of the world’s largest photovoltaics (PV) companies in China are reporting strong preliminary earnings and forecasts for the first three quarters, due partly to growth in overseas demand for solar energy as Europe seeks alternative energy to replace natural gas.

Despite a rise in the price of silicon, Jinko Solar Co. Ltd. (688223.SH), the world’s biggest shipper of solar panels, according to a September report by InfoLink Consulting LLC, said net profit surged 129% to 136% in the first nine months to between 1.65 billion yuan to 1.7 billion yuan ($228 million to $235 million), preliminary unaudited earnings results show.

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