Sungrow Ousts Longi as World's Most Valuable Solar Energy Firm [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: BNN Bloomberg
Hefei, China-based Sungrow gets the largest share of revenue from sales of inverters, the technology needed to convert direct current solar electricity into the alternating current that's used in most power grids. The firm's product mix offers “high volume growth” and relatively sustainable margins, Citigroup Inc. said in a note this month. Longi, among the top global players in production of solar modules, cells and wafers, has slumped more than 70% from a 2021 peak as rapid expansion by manufacturers has outpaced demand growth. The firm plans to lay off thousands of workers to survive in an increasingly competitive landscape, Longi said earlier this month. The company's market capitalization fell Friday to 152.2 billion yuan ($21 billion), slipping behind Sungrow. Longi had been the most valuable of 13 major solar industry companies tracked by Bloomberg since September 2018. Both remain some way off the valuation of China's leading energy firm, oil and gas producer PetroChina C
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form FWP
- 4/26/24 - Form 424B2
- C's page on the SEC website