Mingyang 2020 Annual Report – Revenue 22.46 Billion RMB!

Keywords: Mingyang; 2020 annual report


On April 8, 2021, Mingyang Smart Energy released its annual report for 2020. According to the report, in 2020, the operating revenue of Mingyang is 22.457 billion RMB, with a growth of 114.02% year on year; the net profit attributable to shareholders of the company is 1.374 billion RMB, with a growth of 92.84% year on year; the net assets attributable to shareholders of the company is 14.762 billion RMB, with an increase 119.66% year on year.

During the reporting period in 2020, the sales revenue of Mingyang is 20.947 billion RMB, with a growth of 126.76% year on year; the international sales capacity is 5.66GW, with a growth of 132.04% year on year, in which onshore wind power is about 4.75GW, with a growth of 137.89% year on year, and offshore wind power about 0.91GW, with a growth of 105.51% year on year. The proportion of new grid connected installed capacity of offshore wind power in China reached 29.5%, an increase of 7.3% points over the same period in 2019. Throughout the year, the company’s market share in China’s new installed wind power is 10%, ranking the top three in China for six consecutive years, and the sixth in the global new installed wind power. 

With the continuous improvement of market recognition and market competitiveness of MySE series wind turbines, by the end of 2020, the company’s in hand order capacity is 13.88GW, including 8.25GW for onshore orders and 5.63GW for offshore orders. In hand orders of 3MW and above units reached 94.79%, orders of 4MW and above units reached 58.97%, orders of 5MW and above units reached 40.68%, and the large-scale rate of units ranked first in China.

Source: Mingyang Smart Energy

Edited and translated: minds:connected