PVTIME – On August 4, Jolywood (Suzhou) Sunwatt Co., Ltd. (300393.SZ), a leading manufacture of bifacial modules with n-type cells and TOPCon technology, released its 2022 interim results.
In the first half of 2022, the company achieved a total operating income of 4.638 billion yuan, a year-on-year increase of 95.5%, The net profit attributable to the parent was 231 million yuan, a year-on-year increase of 642.9%, and the earnings per share were 0.21 yuan.
The company’s 2022 semi-annual operating cost was 3.866 billion yuan, a year-on-year increase of 82%, lower than the 95.5% growth rate of operating income, resulting in a 6.2% increase in gross profit margin. The period expense ratio was 6.1%, down 2% from the same period of previous year. Its operating cash flow decreased from 162 million yuan to -149 million yuan, a year-on-year decrease of 191.5%.
According to the announcement, the main source of the company’s operating income was on the PV system integration sales, which was 2.184 billion yuan, accounting for 47.1% of the revenue, and the gross profit margin was 16.9%.