Chinese PV Industry Brief: Soaring profits for Trina and Shuangliang

Panel maker Trina Solar posted revenue of RMB44.5 billion (US$7.03 billion) in 2021, for a year-on-year increase of 51.2%. The net profit attributable to shareholders reached RMB1.88 billion (US$297 million), up 52.64% on the 2020 figure. The company said the rise in profits was down to bigger sales, in particular of its high-margin, 210mm-wafer based modules; and to growth in its distributed smart energy business.

Wafer manufacturer Shuangliang Eco-Energy recorded revenue of RMB3.83 billion (US$605 million) last year, up 84.87% on 2020, with operating profit up to RMB403 million (US$63.6 million) for a year-on-year improvement of 152.62%. The net profit attributable to shareholders reached RMB312 million (US$49.3 million), 127.24% more than was banked a year earlier. Shuangliang said the numbers were boosted by sales of its solar production equipment, including polysilicon furnaces, as well as by previous investment in its poly production capacity.

Fellow polysilicon manufacturer, and solar project developer, GCL-Poly Energy Holdings yesterday proposed changing the name of the business to GCL Technology Holdings Ltd – subject to shareholder approval – to “better reflect the current status of the group’s business development.” The company also announced new executive director Lan Tianshi has been appointed joint CEO alongside previous sole occupant of the post, Zhu Zhanjun. GCL, whose project development business is pivoting toward gas-fired hydrogen production, said the company would benefit from Lan’s “extensive experience in chemical manufacturing.”