GreenergyDaily
October 31, 2023
1. On Oct. 30, LONGi announced that it achieved an operating income of CNY 29.448 billion in the third quarter of 2023, down 18.92% YoY; net profit was CNY 2.515 billion, a year-on-year decrease of 44.05%. The company's operating income in the first three quarters was CNY 94.100 billion, up 8.55% YoY; net profit was CNY 11.694 billion, up 6.54% YoY.
2. On Oct. 30, BYD Co., Ltd. announced that it achieved an operating income of CNY 162.151 billion in 2023Q3, up 38.49% YoY; net profit was CNY 10.413 billion, up 82.16% YoY. The company's operating income in the first three quarters was CNY 422.275 billion, up 57.75% YoY; net profit was CNY 21.367 billion, up 129.47% YoY.
3. On Oct. 30, PetroChina announced that its operating income in 2023Q3 was CNY 802.264 billion, a year-on-year decrease of 4.6%; net profit was CNY 46.379 billion, up 21.1% YoY. The company's operating income in the first three quarters was CNY 2.28 trillion, a year-on-year decrease of 7.1%; net profit was CNY 131.651 billion, up 9.8% YoY.
4. On Oct. 30, JinkoSolar announced that it achieved an operating income of CNY 31.472 billion in 2023Q3, up 62.53% YoY; net profit was CNY 2.511 billion, up 225.79% YoY. The company's operating income in the first three quarters was CNY 85.097 billion, a year-on-year increase of 61.25%; net profit was CNY 6.354 billion, up 279.14% YoY.
5. Ganfeng Lithium yesterday announced that it achieved a net profit of CNY 160 million in 2023Q3, down 97.88% YoY. Its subsidiary Jiangxi Ganfeng LiEnergy Technology Co., Ltd. announced on the same day that it plans to invest in a three-phase lithium battery production base project in Nanchang. The 1st phase will build a 5GWh-PACK battery production base with a planned investment of no more than CNY 2 billion. The 2nd and 3rd phases will invest in power battery and energy storage battery production bases according to market conditions.
6. Chinese EV manufacturers BYD, Geely and SAIC are reportedly the first subjects of the European Commission's anti-subsidy probe started on 4 October. Geely responded on Saturday that it will actively cooperate with the EU's investigation. BYD has previously stated that it will share the necessary information with the EU to eliminate any misunderstandings.
7. Renault Group's CEO Luca de Meo visited Dongfeng Motor recently to exchange views with President Yang Qing on the French automaker's Renaulution strategic plan, the Chinese carmaker said on Weibo yesterday.
8. Chinese auto brand SERES recently held a press conference and signing ceremony for its high-end new energy vehicles in Latin America in Sao Paulo, Brazil, marking a significant step for SERES in entering the largest economy in South America.
9. On Oct. 31, Cui Dongshu, secretary-general of China's Passenger Car Association, stated that the global car sales in September 2023 reached 8.09 million units, up 11% YoY. The global car sales from Jan. to Sep. 2023 reached 65.32 million units, a year-on-year increase of 11%. In September 2023, Chinese car companies accounted for 35% of the world's share, and the cumulative share from Jan. to Sep. 2023 reached 32%.
10. Canadian Solar announced yesterday that in 2023Q3, it achieved an operating income of CNY 13.014 billion, down 4.32% YoY; net profit was CNY 917 million, up 14.57% YoY. The company's operating income in the first three quarters was CNY 39.119 billion, up 17.05% YoY; the net profit attributable to shareholders of listed companies was CNY 2.84 billion, up 126.02% YoY. Canadian Solar announced on the same day that it plans to launch a 5GW high-efficiency N-type solar cell project in the U.S., with a planned investment of USD 839 million, and the project construction period is 24 months.
