DMEGC Solar, a subsidiary of Hengdian Group, announced that in the first quarter of 2024 it achieved operating revenue of 42,33 billion yuan, achieving an operating profit of 3,82 billion yuan and a gross profit rate of 15,86% .
Additionally, they recorded an increase in the Altman-Z score, which reflects a company's ability to avoid bankruptcy. “The Hengdian Group demonstrated solid stability during this period, reflecting its strength and commitment to excellence in the global market”, highlighted Candice He, commercial director of DMEGC in South America.
in the context of Brazilian photovoltaic solar energy market, the company stated that this information and statements are vital for distributors and integrators.
“We are aware of the importance of strategic partnerships and the fundamental role of financial stability in the success of the sector. This is why DMEGC Solar believes so much in lasting ties and mutual trust between manufacturer and distributor”, highlighted Danilo Borrigueiro, commercial director in Brazil at DMEGC.
About Hengdian Group
The Hengdian Group, one of China's largest private companies – with annual revenue of 12,06 billion euros – is the controlling shareholder of several companies, including DMEGC Solar.
Founded in 1980, DMEGC has five manufacturing bases in China and annual capacity to produce 14 GW of cells and 12 GW of modules. Its recognitions include being listed as one of the Top 10 panel suppliers by PV Tech and Tier 1 by Bloomberg, as well as being a top performer in PVEL's PV Module Reliability Report.
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