With the introduction of high-power string inverter models above 200kW, and the technological breakthrough of 1500V string inverters, means further market gains are expected, according to the company. Image: Ginlong Solis
PV inverter manufacturer Ginlong Solis has set new quarterly and half-year revenue figures as the company continues to expand its global footprint and string inverter product portfolio.
Ginlong Solis reported operating income (revenue) of RMB 727.49 million (US$106.3 million) for the first half of 2020, a new record and a year-on-year increase of 76.63%.
Ginlong Solis reported operating income (revenue) of RMB 727.49 million (US$106.3 million) in the first half of 2020, a new record and a year-on-year increase of 76.63%.
Although COVID-19 had impacted first quarter operations and revenue, the company highlighted that both domestic and overseas sales continued to grow through the first half of the year compared to the prior year period.
The company also noted that due to its expansion into further overseas markets, the impact from COVID-19 was limited in the first quarter of 2020 and enabled focus on markets less impacted by the pandemic in the second quarter to boost sales.
Increased sales and manufacturing capacity expansions, easing capacity constraints and improving economies of scale as string inverter popularity continued to gain market share. Ginlong Solis noted that the China Photovoltaic Industry Association had reported that the market share of string inverters in China PV deployments had reached 59.04%.
These factors supported a significant increase in net profit, which increased 281.87% in the reporting period to RMB 118.32 million (US$17.29 million), compared to the prior year period.
With the introduction of high-power string inverter models above 200kW, and the technological breakthrough of 1500V string inverters, means further market gains are expected, according to the company.
The new Solis 255kW string inverter heralds a new era of powerful, utility-scale PV plant capabilities
Sep 29, 2020
Ginlong Solis is launching its latest utility-scale string inverter for the European market. The 255kW High Voltage inverter is a game changing solution, with the highest single unit power and largest number of MPPTs in the world. Join this PV Tech TechTalk Product Series webinar to understand why powerful string inverters are establishing market dominance. Also, to gain insights into the Solis 1500V 255kW string inverter’s differentiators and compelling LCOE and the product’s intelligent operation and maintenance grid support capabilities.
Mar 10 - Mar 12, 2021
Penang, Malaysia (also available virtually)
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run as a live event in Penang for delegates able to attend and will also welcome virtual delegates via streamed content and online networking.