Ginlong Solis Net Jumps 189% to $ 31.5 Mn in Q3

Ginlong Solis reported a significant jump of 188.84 per cent in its net profit to USD 31.5 million during the third quarter of 2020, as compared to the third quarter of 2019, beating market expectations.

Further, the company's operating income grew 74.31 per cent to USD 202.4 million, during the third quarter of 2020, against the same period a year ago. 

Ginlong Solis this year marks the firms 15th year of operations, a journey every stakeholder can look back on with pride as COVID-19 pandemic year 2020 might be a year most firms would like to forget, but for Ginlong Solis, the global inverter manufacturer, the year remains a key milestone on the firm’s journey to an ever-growing role in the global solar market.

Moving forward, Solis’ overseas sales revenue is still showing great strength to its market growth despite the COVID-19 pandemic and will leverage its strengths to technologies advancement for residential, C&I and utility applications and hybrid PV inverter designed for solar-plus-battery systems along with its partners. Its stated goal is to help enterprises grow their business and help governments boost domestic industry, benefit constituents, and improve overall governance.

Meanwhile, the company will continue contributing to pandemic responses, economic growth, and social progress.