More than 30 percent A-share listed PV power companies of China saw their net profits grow by 100 percent or more in the first three quarters compared with the same period in 2014, with Risen Energy (300118.SZ) ranking first with 499.36 percent year-on-year growth, according to a report by Economics Information Daily on Monday.
Among the 30 A-share listing PV power companies that have released their third quarter financial results as of October 30, 24 companies reported positive year-on-year growth in net profits and particularly 10 companies saw net profits grow by more than 100 percent year on year, according to Wind Info.
China's PV industry is likely to see leaping growth in the fourth quarter due to the capacity target hike by the National Energy Administration (NEA) with PV module prices likely to grow slightly and manufacturers' gross margin to increase, according to Gao Jifan, head of China Photovoltaic Industry Association.
China's accumulative PV capacity is likely to reach 43GW by 2015 and become the largest market for PV utilization globally, according to Gao.
China has seen recovering development of PV industry in the first three quarters this year. The country added 9.9 GW of PV power capacity in the first nine months of 2015, including 8.32 GW from PV power stations and 1.58 GW from distributed PV power projects, according to NEA figures.
China's accumulative-installed capacity for solar PV power hit 37.95 GW by the end of September, with 31.70 GW from PV power stations and 6.25 GW from distributed PV power projects.
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