Major PV inverter manufacturer Sungrow Power Supply is planning to increase manufacturing capacity by a further 5GW to meet expected strong demand in 2016 and onwards, driven by China and its growing international footprint.
Sungrow reported first half 2015 operating income of RMB1.78 billion (US$287.2 million), up 91.5% from the prior year period.
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Net profit was around RMB155 million (US$24.9 million) for the interim year period, a 93.2% increase from the prior year period.
The company reported PV inverter shipments totalling around 1.98GW for the first half of 2015. However, in its financial report, Sungrow noted that order backlog for the second half of the year was significantly higher than the reporting period, guiding sales of around RMB5.0 billion (US$800 million) for the full-year.
Revenue was also said to be increasing in its PV power plant systems integration business, which surged 267% in the first half of 2015, compared to the prior year period. Sales in this business segment reached RMB680.8 million (US$109.6 million).
