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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Tongwei Co.,Ltd    600438   CNE000001GS3

TONGWEI CO.,LTD

(600438)
  Report
End-of-day quote. End-of-day quote Shanghai Stock Exchange - 06/02
14.11 CNY   -0.98%
04/16TONGWEI CO.,LTD : quaterly earnings release
2019TONGWEI CO LTD : annual earnings release
2019Large-scale solar power set for double-digit growth - Goldman Sachs
RE
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Large-scale solar power set for double-digit growth - Goldman Sachs

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03/14/2019 | 09:18am EDT
FILE PHOTO: Man works on solar panels at a solar power plant of China Huaneng Group in Huaiyin

SINGAPORE (Reuters) - Utility-scale solar power capacity is expected to grow by double digits globally in 2019 and 2020, driven by expansions in the United States, Europe, Middle East and China, U.S. bank Goldman Sachs said on Thursday.

Solar power is the fastest growing source of electricity generation, taking market share from fossil fuels like thermal coal and natural gas as governments and companies increasingly introduce clean energy targets.

"We expect the combination of lower costs for solar and favourable policy support providing a multi-year runway for utility-scale to drive meaningful upside to the market," the U.S. investment bank said in a research note.

Goldman said it expected utility-scale solar installations globally to reach to 108 gigawatts (GW) in 2019, up 12 percent on the previous year, and then grow by another 10 percent in 2020 to 119 GW.

For 2021 and 2022 the bank expected capacity to reach 129 GW and 135 GW.


(Graphic of solar capacity growth: https://tmsnrt.rs/2UyT2mB

Utility-scale solar is defined as an installation that is designed solely to feed electricity into a grid, unlike smaller scale residential solar units.

Including residential installations, most analysts expect global solar power capacity to soon hit 600 GW.

"We anticipate some of the strongest growth to materialise in key regions such as the U.S., Europe, and the Middle East while we see some potential upside emerging in China where demand appears to have stabilized in recent months following a collapse through the latter part of 2018," it added.

Solar power has been booming not just because of government and corporate sustainability targets, but also thanks to a sharp drop in panel prices in recent years.

Solar panel costs have plummeted from around $70 per watt of electricity generated in 1980, to $0.36 per watt currently in the United States, according to energy consultancy Wood Mackenzie.

Thanks to the solar boom, Goldman said it was "selectively constructive" on solar companies, with First Solar, Canadian Solar, Vivint Solar, Longi Green Energy Technology and Tongwei expected to perform well.

(Reporting by Henning Gloystein; editing by Richard Pullin)

By Henning Gloystein

Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN SOLAR INC. -1.55% 18.41 Delayed Quote.-15.34%
FIRST SOLAR, INC. 0.01% 48.02 Delayed Quote.-14.21%
LONGI GREEN ENERGY TECHNOLOGY CO., LTD. -2.82% 32.06 End-of-day quote.29.12%
THE GOLDMAN SACHS GROUP, INC. 1.85% 203.575 Delayed Quote.-13.05%
TONGWEI CO.,LTD -0.98% 14.11 End-of-day quote.7.46%
VIVINT SOLAR, INC. 1.34% 8.31 Delayed Quote.13.09%
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Latest news on TONGWEI CO.,LTD
04/16TONGWEI CO.,LTD : quaterly earnings release
2019TONGWEI CO LTD : annual earnings release
2019Large-scale solar power set for double-digit growth - Goldman Sachs
RE
2018TONGWEI CO LTD : annual earnings release
More news
Financials
Sales 2020 43 232 M 6 091 M 6 091 M
Net income 2020 2 828 M 398 M 398 M
Net Debt 2020 14 729 M 2 075 M 2 075 M
P/E ratio 2020 21,5x
Yield 2020 1,22%
Capitalization 60 502 M 8 520 M 8 524 M
EV / Sales 2019
EV / Sales 2020 1,74x
Nbr of Employees 23 635
Free-Float 50,6%
Chart TONGWEI CO.,LTD
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Technical analysis trends TONGWEI CO.,LTD
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 17,20 CNY
Last Close Price 14,11 CNY
Spread / Highest target 59,5%
Spread / Average Target 21,9%
Spread / Lowest Target -9,28%
EPS Revisions
Managers
NameTitle
Yi Zhong Guo General Manager & Director
Han Yuan Liu Chairman
San Deng Chairman-Supervisory Board
Shi Hua Yuan Chief Financial Officer
Hu Yan Vice Chairman, Secretary & Chief Accountant
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