Shuangliang Eco-Energy Annual Report 2021, A Net Profit of 312 Million Yuan

PVTIME – On Feburary 21, Shuangliang Eco-Energy Systems Co., Ltd. (hereinafter referred to as Shuangliang or the Company)(600481.SH) released the performance report 2021. The latest progress of the polysilicon reduction furnace contract signed by the company’s subsidiary and Daqing New Energy was disclosed at the same time.

The report shown that in 2021, the company’s total operating income is 3.830 billion yuan, a year-on-year increase of 84.87%. The operating profit in 2021 is 403 million yuan, a year-on-year increase of 152.62%. The net profit attributable to shareholders of the listed company in 2021 is 312 million yuan, a year-on-year increase of 127.24%. The non-net profit after deduction is 230 million yuan, a year-on-year increase of 127.47%.

The company’s performance growth in 2021 was mainly driven by the growth of both the company’s business and the overall photovoltaic industry during the reporting period. In 2021, the first year for China promoting the “Dual Carbon” policy, the company’s energy-saving and water-saving business and photovoltaic equipment (mainly polysilicon reduction furnace) business were enlarged, and the numbers of orders grown rapidly, even the large size monocrystalline silicon wafer products have been released and ​achieved a part of the sales revenue as well.

Moreover, a Reduction Furnace Purchase Contract was signed between Inner Mongolia Daqo New Energy Co., Ltd., a wholly-owned subsidiary of Xinjiang Daqo(688303.SH), and Jiangsu Shuangliang New Energy Equipment Co., Ltd., a holding subsidiary of Shuangliang Eco-Energy Systems Co., Ltd. The contract targets are multiple pairs of rod polysilicon reduction furnaces and relevant components and special tools. The contract value is RMB 555.66 million, accounting for 26.82% of Shuangliang’s audited operating income in 2020. The total assets, net assets and net profit are expected to be positive influenced if this contract is successfully performed.