Hanergy hits the bright spot by registering 30 times mid-term profit compared to last year

Pioneering multinational clean energy company Hanergy Thin Film Power Group has announced delivering an outstanding interim result for the period ending June 30, 2018.

Announcing an increase in its operating revenue, Hanergy for the first half of 2018 reached HK$ 20.414 billion, registering a significant increase of 615% compared to the same period last year.

It announced a net profit for the period took a leap to HK$7.329 billion, accounting to nearly 30 times surge year on year (YoY).

The official announcement of a huge upturn in the revenue and profit, is a testament of the Group’s improved income structure and further, corroborates company’s painstaking efforts to sustain the growth momentum for the subsequent term of the year, 2018.

According to Hanergy, the tremendous growth is primarily attributable to the great technological breakthroughs of the company, strong support from national policies on the industries of thin film power generation, mobile energy, high-end equipment manufacturing as well as new energies and new materials, development of new markets and obtaining a number of new clients and innovative projects, enabling the upstream business of the company to achieve significant progress during the period.

Another key factor attributes to the group’s exponential growth is the prodigious improvement of the localization of equipment production lines, which made large-scale delivery of products possible fetching a substantial increase in upstream business.

Hanergy’s leadership position in thin film solar industry and consistent efforts to sustain it through unparalleled breakthroughs in technology has been instrumental in company’s growth. The Group has professional R&D teams in various locations around the world such as the United States, Germany, Sweden, and China which continuously carry out innovative research and development to achieve continuous technological breakthroughs.

Source: ANI