BEIJING, March 30, 2019 /PRNewswire/ -- Hanergy Thin Film Power Group Limited (HK Stock Code: 0566, Hanergy TFP), today (March 29) released its annual results for the 2018 fiscal year. As per the company's recent annual report, the Group's revenue from contracts with customers in 2018 reached HKD 21.3 billion, approximately ramping up by 2.45 times compared to 2017. During the period aforementioned, the company's net profit surged to HKD 5.2 billion, making a remarkable upturn, 18.9 times year-on-year for the consecutive three years.
As per the management, the overall performance of Hanergy TFP throughout the period increased steadily owing to group's strategic focus on upstream core technology research and development, production equipment delivery, and diversified applications of thin film solar energy in downstream business. During the period, the number of customers for new mobile energy industry park augmented ensuring steady growth in the upstream business. In the downstream business, Hanergy TFP has launched various technologies + design, double innovation products such as; HanTile, HanWall, Humbrella, etc., leading to a record increase in both, domestic and overseas sales.
Leveraging its stature in thin-film power industry, scaled-up the equipment delivery capabilities
Hanergy's upstream business generally includes the R&D, design, sales and delivery of the thin-film solar cell equipment manufacturing and product line establishing, as well as technical solution offering. In 2018, as the equipment and technology supplier, Hanergy provided CIGS, GaAs and SHJ product lines to several mobile energy industrial parks, facilitating regional economic development and transformation as a turnkey provider.
In 2018, the prominent industrial park clients included Datong industrial park, Zibo industrial park, Mianyang industrial park, etc. Hanergy has made a significant progress inching closer to deliver these projects, and has received partial repayments. The company's several industrial park projects including Shanxi TV channel have achieved large-scale production.
According to report by Shanxi Television on March 15th, in the Hanergy flexible thin-film solar cells production warehouse in Datong industrial park, the equipments are operational and have been brought to effective use to produce thin-film solar cells for "Raphael Cloud Gallery", which is a Shanghai landmark and one of the significant projects of 13th five-year plan. In the meantime, Hanergy is painstakingly dedicated to collaborate with more countries like Saudi Arabia to mark the launch a bunch of industrial park projects which will contribute largely to the company's performance in the next few years.
As an undisputed leader in global thin-film solar industry, Hanergy has been constantly remained in the forefront of technological research and innovation, setting the world record for conversion efficiency for six times, including Solibro's glass-based large-area Copper Indium Gallium Selenide (CIGS) panels (18.72%) and the flexible CIGS modules manufactured with the sputtering method by MiaSole (19.4%), GSE's third generation modules (19.3%), silicon heterojunction (SHJ) thin-film battery (24.23%). At the same time, Hanergy's Gallium Arsenide (GaAs) technology currently has a 29.1% conversion efficiency. Meanwhile, in January 2019, Hanergy successfully gained a series of group certifications including ISO 9001, ISO 14001 and ISO 45001 integrated management system certification by TüV SÜD Greater China (TüV SÜD), taking a further notch up in the industry.
Hanergy has successively acquired the German company Solibro as well as American companies MiaSolé, Global Solar Energy and Alta Devices. Re-iterating its focus and par-excellence efficiency in research and development, the company has set up eight R&D centers around the world. Hanergy maintains five world records in the conversion efficiency of thin-film solar generation through its strategic global technology integration and making constant breakthroughs in technology independently. Among those world records, the GaAs double-junction solar cell has been certified by the National Renewable Energy Laboratory (NREL) with a maximum conversion efficiency of 31.6% and has broken the world record for several times in a row.
Short supply of innovative products
Responding to the global trend of application of low-carbon, green and clean energy, in 2018, the Group introduced a fresh approach on both technology and design innovation of products integrated with its leading thin film solar technologies. It launched series of products and solutions such as; "HanWall", "HanTile" and "Humbrella". At present, while the market feedback for these products has been exceptionally good, however the products are short in supply. Upping the ante in BIPV segment, both HanTile and HanWall thrive on the concept of ecological buildings and architecture that makes it possible to produce and utilize energy within the building ecosystem through the design of the interior and exterior spaces of the building, consequently achieving an efficient, low-cost, ecologically balanced building environment. During last year, the Group also marked the launch of Humbrella, the world's first multi-functional umbrella, which is based on flexible thin-film solar technology. Moreover, the Group gained market's attention as it launched new mobile energy application products such as "HanPack" and "HanPower".
Recently, HanTile has won the German iF Design Gold Award which is known as "Design Oscar". At present, Hantile has been applied in the domestic and foreign construction markets, including residential houses in Beijing, villas in Suzhou, Naxi buildings in Lijiang and villas in Sweden. Within this period, the Group has signed a HantTile pre-sale contract of RMB900 million with FGS International Group from Japan. Recently, Hong Kong's Mondo Green Energy Ltd. became the general distributor of HanTile in Hong Kong, with a purchasing contract amounting to RMB100 million. In Southeast Asia, the Group has recently signed a USD10 million HanTile purchasing agreement with its Malaysian partner. Since HanWall has been launched, it has also attracted attention from the consumers worldwide. Environmental Technology Solutions from Australia has signed Hanwall sales agreement with the Group. Recently, the Group has also signed a HanWall purchasing agreement with South Korea's West Sea Energy for a total value of USD 8 million.
In 2018, the Group continued to participate in the PV Poverty Alleviation Project, while making full use of the land resources of poor rural households and helping to achieve accurate poverty alleviation. In the Northeast China, Hanergy has completed the installation of photovoltaic systems in 21 villages of the Boli County in Qitaihe City, Heilongjiang Province, connecting them to the grid for power generation. It is estimated to bring thousands of Yuan per year for each household and practically achieve poverty alleviation. Hanergy has also completed the first national photovoltaic poverty alleviation project in Guangshan County, Xinyang City, Henan Province, with local partners in helping the poor population of the region to achieve poverty alleviation.
Flouring in mobile energy industry, expanding in high-end markets
Ushering the new era of mobile energy in 2018, Hanergy utilized the unique thin-film solar technology to mark several breakthroughs in the fields of green transport, aerospace, commercial product and other mobile energy industries. Hanergy collaborated with NASA, Boeing and other voluminous companies, making remarkable entry in the aerospace application sector.
Focusing on the strategic pipeline of thin-film solar power, Hanergy engages in the integration of the entire industry chain ranging from technology research and development, high-end equipment manufacturing, component production and application product development, so on and so forth. Today, Hanergy leads the way in scale and technology in the thin-film solar industry.
Hanergy has been on a continuous growth trajectory, and is on a voyage to strengthen its foothold in global market. Hanergy's business now spans across nearly 40 countries. Looking forward to 2019, Hanergy is determined to grow exponentially by leveraging its exceptional know-how in technology research and development and achieve business scale. Currently, it already possesses super GW-class equipment delivery capabilities and has become the leading "turnkey provider" of thin-film solar production lines around the globe. Through cooperation with a number of mobile energy industrial parks, sales of thin-film solar production line solutions have been on a rise with significant progress to large-scale delivery is underway.
Constant breakthroughs in the sector have led to steady surge in Hanergy's market value. Further, Hanergy's "mobile energy +" model is well in place to promote in-depth integrations of mobile energy and traditional industries. As of February 28th 2019, Hanergy has total of 10,200 global patent applications.
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