The third version of the Sinovoltaics monetary stability report rating lists India-based Abhishek Corp, Insolartion Energy, Waaree Renewable Technologies, and Solex Energy, all based mostly in India, adopted by US-based First Solar as the highest 5. Six extra producers entered the worldwide rating.
Sinovoltaics, a Hong Kong technical compliance and high quality assurance service firm, launched the third quarter of the PV Module Manufacturers Ranking, which is international in scope and consists of 65 panel suppliers, 6 greater than the earlier rank. The report will be downloaded totally free. The outcomes are calculated based mostly on publicly accessible data from September 2021 to June 2024 to supply readability on the soundness of scores over time.
In this version, analysts highlighted 4 module producers that made enhancements, resembling US-based Mission Solar’s shift to tenth place from twelfth, India-based Tata Power Solar from place 37 to 30, and Taiwan-based Ritek rose from 47 to 44.
At the highest of the monetary power chart are 4 producers from India, Abhishek Corp, Insolartion Energy, Waaree Renewable Technologies, Solex Energy, adopted by US-based First Solar, which rose to fifth from sixth place . Next is Taiwan-based Tainergy, which was first within the earlier quarter, now in sixth place. It was adopted by Eterbright Solar Corporation, Taiwan-based TSEC, and two newcomers to the highest ten, Vietnam’s Boviet Solar and US-based Mission Solar.
The Sinovoltaics monetary stability rating makes use of the so-called Altmann Z-score, a quantitative method that depends on sure company revenue and stability sheet values to measure the monetary well being of an organization. It assesses an organization’s monetary power based mostly on public data by testing credit score power based mostly on profitability, leverage, liquidity, solvency, and exercise ratios. A rating of 1.1 or much less signifies a better chance of chapter throughout the subsequent two years, whereas a better rating of two.6 or extra signifies a robust monetary place. place.
Sinovoltaics analysts be aware that whereas the rankings don’t say something concerning the precise high quality of PV gear, patrons and different stakeholders within the business, resembling monetary establishments, can use the rating reviews. as a part of the due diligence course of or to assist establish financially steady companions. .
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