EN 
PT_BR 
Solis, a manufacturer of photovoltaic inverters, recorded profits of US$ 202 million in the first three quarters of this year. The amount represents an increase of 74% compared to the same period in 2019, according to a financial report released by the company last week.
Also according to the manufacturer, net profit (attributable to the parent company) was US$ 31.4 million, an increase of 189% compared to the same period last year.
Due to the increase in the number of sales and the reinforcement of the collection of amounts receivable, the company's cash accumulated the amount of US$ 149.6 million, an increase of 67% compared to the first three quarters of 2019.
With this, the cash flow net exploration reached an all-time high due to its global revenue and large amount of available cash.
“During the reporting period, Covid-19 brought some pressures and some unavoidable challenges to our business as well as other businesses. However, thanks to the dedication of all our colleagues, the company's capacity was quickly recovered, and it then grew and gained a greater share of the domestic and foreign market through the company's positive response,” highlighted Yiming Wang, president of Solis.
The report released by the manufacturer also showed that debts to suppliers and customers decreased by 13% compared to the previous period. Regarding amounts receivable, Solis expects the inflow of more than US$ 100 million.
Increase in production capacity
The manufacturer also informed that construction work has already begun on the second production unit, which will be used mainly for the construction of fixed increase projects, with an annual production capacity of 400 thousand inverters.
Currently, the company's product range encompasses all inverters between 0.7 kW and 255 kW. The estimate, after the completion of the new installations, is that the average power of each inverter will reach 40 kW. As a result, Solis' total production capacity will exceed 20 GW.
Recently, the manufacturer launched the inverter Solis-255K-EHV, suitable for photovoltaic power plants installed on land.
Investment in R&D
Due to R&D (Research and Development) needs, the company continues to invest in the development of innovative products.
According to the manufacturer, in the first three quarters of 2020 an increase of 118% was recorded, compared to the same period last year, in expenses with the company's R&D department.
