The thin-film manufacturer, developer and maker of the Humbrella, HanTile and HanWall made 78th position in a ranking of China’s Top 500 companies, an improvement on last year’s 91st place, to lead the six solar-linked businesses on the list.
Hanergy and Astronergy parent company Chint Electric have bucked the trend after a rollercoaster year for Chinese solar by climbing the ranks of the nation’s biggest public companies.
According to data compiled by Chinese financial analysts 21 Data News Laboratories, thin-film giant Hanergy – which has itself had an up and down ride on public markets over the years – is the biggest company in its Top 500 list operating in solar, and the only ‘100 billion’ PV player.
According to the list – which analysed the values of Chinese companies across 15 global exchanges including Shanghai, Hong Kong and New York’s Nasdaq – the Beijing-based manufacturer has a market value of RMB144 billion ($21.4 billion).
While global investors may still be wary of Hanergy’s dependence on trade between its many business units – and its patchy past record on internal accounting and share price movements – Chinese investors do not seem to be deterred, and the recent policy announcement on central subsidy-free PV projects in the world’s biggest marketplace is likely to have inflated the company’s share price even more.
Atronergy owner climbs table
In a statement issued by Hanergy this week to trumpet its placing at number 78 on the Top 500 list – up 13 rungs from last year – Hanergy senior VP Zhang Bin said: “At Hanergy, we’re steadfast to continue to create and lead the trend of thin film power generation and achieve our ultimate goal of increasing the brand value of Hanergy. We’re confident that our robust global expansion plan and the deeper understanding of the sector, vis-à-vis the trends in the international market, will help us take up a notch higher globally.”
Astronergy also climbed this year’s rankings, 15 places to number 241, in a year which proved difficult for solar companies after the abrupt announcement by Beijing at the end of May that it would be curtailing public solar subsidies. However it is parent company Chint which is ranked on the list and it is not clear how much Astronergy’s manufacturing operations in China and Germany contributed to Zhejiang-based Chint’s market valuation of RMB52.2 billion.
Another solar company on the rise in China was GCL System Integration, a new entrant into the list at number 489. The Jiangsu-based module, tracker, battery and EV charging manufacturer gatecrashed the Top 500 with a market valuation of RMB25.3 billion.
Tongwei and TBEA suffer
Shaanxi’s Longi-silicon and Sichuan-based Tongwei Group both have a higher market valuation but tumbled down the rankings after an eventful 2018. Solar manufacturer Longi fell 56 places to 257 with a valuation of RMB48.7 billion. Tongwei slipped 46 places to 368 with a valuation of RMB32.1 billion, of which its PV unit Tongwei Solar (Hefei) made only a partial contribution.
And another Chinese company active in solar that slid down the rankings was electrical equipment manufacturer TBEA, based in Xinjiang, whose valuation of RMB25.2 billion saw it retreat a hefty 76 places to just inside the Top 500 in 493rd place.
Source: pv magazine