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 chiefly to a 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 to $235 million), preliminary unaudited earnings results show.
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