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Sungrow Global Market Share Reaches 27% in 2020

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HEFEI, China, April 29, 2021 /PRNewswire/ — Sungrow, the global leading inverter solution supplier for renewables, has released the annual report 2020 to shareholders, reporting that the fiscal performance remains prosperous and the global market share reached 27% in 2020.

Financials in 2020

  • The revenue increased by 48.3% to $2.956 billion (2019: $1.864 billion).
  • The net income attributable to shareholders of a listed company came to $298.9 million, an increase of 119.0% (2019: $127.6 million).
  • The CFFO (cash flow from operations) increased by 24.5% to $473.6 million, a stellar and healthy operation structure.
  • Turnover of accounts receivable was 2.5 times, an increase of 41.6%.
  • Basic earnings per share thus amounted to 1.34 yuan (20.54 US cents), an increase of 119.7%.

Market Share Expansion

Sungrow had over 35 GW of PV inverters shipped in 2020, accelerating its global market share to 27%. Apart from the performance in utility-scale projects in global solar hubs, the development of distribution segments also contributes to this increase. For instance, its market share in Australia for the residential segment has increased to 24%, it has been leading the local market share in Brazil since 2019 and it predicts an even more prosperous future in Europe as it’s establishing local channels.

In addition, over 800 MWh of Sungrow energy storage systems were shipped worldwide in 2020, and the deployment is expected to show a high growth trend. Sungrow, as one of a few companies that can supply both PV and energy storage product portfolios, keeps making innovations in solar-plus-storage applications as the combination becomes the next thriving sector to unlock the potential of clean energy and facilitate the energy transition.

Notably, Sungrow has expanded its annual production capacity to 90 GW, including 10 GW of India manufacturing based on a global growing demand basis. Also, the Company is on the path to establish another factory outside China in the near future.

Social Responsibility Milestones

As one of the pivotal solar and energy storage players, Sungrow keeps contributing to global carbon neutrality. The Company’s accumulative shipments exceeded 154 GW as of December 2020, which is equivalent to eliminating 174.5 million tons of carbon dioxide.

Another breakthrough is that Sungrow joined RE100 and has pledged to switch to 100% renewable energy for its electricity requirements by 2028.

The Company is dedicated to supporting communities in the global landscape, donating to public welfare and charity undertakings based on the framework of eradicating poverty and contributing to education, as well as fighting against pandemics and natural disasters.

Securing the MSCI ESG Rating of AA, Sungrow also shows the robust resilience to long-term, industry material environmental, social and governance (ESG) risks.

As the only inverter supplier ranked “100% bankable” for two straight years by BloombergNEF, Sungrow has been at the forefront in the clean energy business for over 24 years. The Company is poised to speed up the pace towards sustainable development with more flagship product lineups rolling out in 2021.

About Sungrow

Sungrow Power Supply Co., Ltd (“Sungrow”) is the world’s most bankable inverter brand with over 154 GW installed worldwide as of December 2020. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters, with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 24-year track record in the PV space, Sungrow products power installations in over 150 countries. Learn more about Sungrow by visiting www.sungrowpower.com.

SOURCE Sungrow Power Supply Co., Ltd

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.prnewswire.com:443/news-releases/sungrow-global-market-share-reaches-27-in-2020-301279897.html

AI

Bitcoin Mining Company Vows to be Carbon Neutral Following Tesla’s Recent Statement

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Last week, Elon Musk and Tesla shocked the entire crypto industry following an announcement that the electric car company will no longer accept bitcoin payments for “environmental reasons.”

A Hard Pill For Bitcoin Maximalists

Giving its reasons, Tesla argued that Bitcoin mining operation requires massive energy consumption, which is generated from fossil fuel, especially coal, and as such, causes environmental pollution.

The announcement caused a market dip which saw over $4 billion of both short and long positions liquidated as the entire capitalization lost almost $400 billion in a day.

For Bitcoin maximalists and proponents, Tesla’s decision was a hard pill to swallow, and that was evident in their responses to the electric car company and its CEO.

While the likes of Max Keiser lambasted Musk for his company’s move, noting that it was due to political pressure, others like popular YouTuber Chris Dunn were seen canceling their Tesla Cybertruck orders.


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Adding more fuel to the fire, Musk also responded to a long Twitter thread by Peter McCormack, implying that Bitcoin is not actually decentralized.

Musk Working With Dogecoin Devs

Elon Musk, who named himself the “Dogefather” on SNL, created a Twitter poll, asking his nearly 55 million followers if they want Tesla to integrate DOGE as a payment option.

The poll, which had almost 4 million votes, was favorable for Dogecoin, as more than 75% of the community voted “Yes.”

Following Tesla’s announcement, the billionaire tweeted that he is working closely with Dogecoin developers to improve transaction efficiency, saying that it is “potentially promising.”

Tesla dropping bitcoin as a payment instrument over energy concerns, with the possibility of integrating dogecoin payments, comes as a surprise to bitcoiners since the two cryptocurrencies use a Proof-of-Work (PoW) consensus algorithm and, as such, face the same underlying energy problem.

Elon Musk: Dogecoin Wins Bitcoin

Despite using a PoW algorithm, Elon Musk continues to favor Dogecoin over Bitcoin. Responding to a tweet that covered some of the reasons why Musk easily chose DOGE over BTC, the billionaire CEO agreed that Dogecoin wins Bitcoin in many ways.

Comparing DOGE to BTC, Musk noted that “DOGE speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

Max Keiser: Who’s The Bigger Idiot?

As Elon Musk continues his lovey-dovey affair with Dogecoin, Bitcoin proponents continue to criticize the Dogefather.

Following Musk’s comments on Dogecoin today, popular Bitcoin advocate Max Keiser took to his Twitter page to ridicule the Tesla boss while recalling when gold bug Peter Schiff described Bitcoin as “intrinsically worthless” after he lost access to his BTC wallet.

“Who’s the bigger idiot?” Keiser asked.

Aside from Keiser, other Bitcoin proponents such as Michael Saylor replied to Tesla’s CEO:

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Coinsmart. Beste Bitcoin-Börse in Europa
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AI

Bitcoin Proponents Against Elon Musk Following Heated Dogecoin vs Bitcoin Tweets

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Last week, Elon Musk and Tesla shocked the entire crypto industry following an announcement that the electric car company will no longer accept bitcoin payments for “environmental reasons.”

A Hard Pill For Bitcoin Maximalists

Giving its reasons, Tesla argued that Bitcoin mining operation requires massive energy consumption, which is generated from fossil fuel, especially coal, and as such, causes environmental pollution.

The announcement caused a market dip which saw over $4 billion of both short and long positions liquidated as the entire capitalization lost almost $400 billion in a day.

For Bitcoin maximalists and proponents, Tesla’s decision was a hard pill to swallow, and that was evident in their responses to the electric car company and its CEO.

While the likes of Max Keiser lambasted Musk for his company’s move, noting that it was due to political pressure, others like popular YouTuber Chris Dunn were seen canceling their Tesla Cybertruck orders.


ADVERTISEMENT

Adding more fuel to the fire, Musk also responded to a long Twitter thread by Peter McCormack, implying that Bitcoin is not actually decentralized.

Musk Working With Dogecoin Devs

Elon Musk, who named himself the “Dogefather” on SNL, created a Twitter poll, asking his nearly 55 million followers if they want Tesla to integrate DOGE as a payment option.

The poll, which had almost 4 million votes, was favorable for Dogecoin, as more than 75% of the community voted “Yes.”

Following Tesla’s announcement, the billionaire tweeted that he is working closely with Dogecoin developers to improve transaction efficiency, saying that it is “potentially promising.”

Tesla dropping bitcoin as a payment instrument over energy concerns, with the possibility of integrating dogecoin payments, comes as a surprise to bitcoiners since the two cryptocurrencies use a Proof-of-Work (PoW) consensus algorithm and, as such, face the same underlying energy problem.

Elon Musk: Dogecoin Wins Bitcoin

Despite using a PoW algorithm, Elon Musk continues to favor Dogecoin over Bitcoin. Responding to a tweet that covered some of the reasons why Musk easily chose DOGE over BTC, the billionaire CEO agreed that Dogecoin wins Bitcoin in many ways.

Comparing DOGE to BTC, Musk noted that “DOGE speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

Max Keiser: Who’s The Bigger Idiot?

As Elon Musk continues his lovey-dovey affair with Dogecoin, Bitcoin proponents continue to criticize the Dogefather.

Following Musk’s comments on Dogecoin today, popular Bitcoin advocate Max Keiser took to his Twitter page to ridicule the Tesla boss while recalling when gold bug Peter Schiff described Bitcoin as “intrinsically worthless” after he lost access to his BTC wallet.

“Who’s the bigger idiot?” Keiser asked.

Aside from Keiser, other Bitcoin proponents such as Michael Saylor replied to Tesla’s CEO:

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/bitcoin-proponents-against-elon-musk-following-heated-dogecoin-vs-bitcoin-tweets/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-proponents-against-elon-musk-following-heated-dogecoin-vs-bitcoin-tweets

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Blockchain

Ethereum, Binance Coin, Cardano: Is this common factor a reason for these alts pumping?

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Last week, Elon Musk and Tesla shocked the entire crypto industry following an announcement that the electric car company will no longer accept bitcoin payments for “environmental reasons.”

A Hard Pill For Bitcoin Maximalists

Giving its reasons, Tesla argued that Bitcoin mining operation requires massive energy consumption, which is generated from fossil fuel, especially coal, and as such, causes environmental pollution.

The announcement caused a market dip which saw over $4 billion of both short and long positions liquidated as the entire capitalization lost almost $400 billion in a day.

For Bitcoin maximalists and proponents, Tesla’s decision was a hard pill to swallow, and that was evident in their responses to the electric car company and its CEO.

While the likes of Max Keiser lambasted Musk for his company’s move, noting that it was due to political pressure, others like popular YouTuber Chris Dunn were seen canceling their Tesla Cybertruck orders.


ADVERTISEMENT

Adding more fuel to the fire, Musk also responded to a long Twitter thread by Peter McCormack, implying that Bitcoin is not actually decentralized.

Musk Working With Dogecoin Devs

Elon Musk, who named himself the “Dogefather” on SNL, created a Twitter poll, asking his nearly 55 million followers if they want Tesla to integrate DOGE as a payment option.

The poll, which had almost 4 million votes, was favorable for Dogecoin, as more than 75% of the community voted “Yes.”

Following Tesla’s announcement, the billionaire tweeted that he is working closely with Dogecoin developers to improve transaction efficiency, saying that it is “potentially promising.”

Tesla dropping bitcoin as a payment instrument over energy concerns, with the possibility of integrating dogecoin payments, comes as a surprise to bitcoiners since the two cryptocurrencies use a Proof-of-Work (PoW) consensus algorithm and, as such, face the same underlying energy problem.

Elon Musk: Dogecoin Wins Bitcoin

Despite using a PoW algorithm, Elon Musk continues to favor Dogecoin over Bitcoin. Responding to a tweet that covered some of the reasons why Musk easily chose DOGE over BTC, the billionaire CEO agreed that Dogecoin wins Bitcoin in many ways.

Comparing DOGE to BTC, Musk noted that “DOGE speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.”

Max Keiser: Who’s The Bigger Idiot?

As Elon Musk continues his lovey-dovey affair with Dogecoin, Bitcoin proponents continue to criticize the Dogefather.

Following Musk’s comments on Dogecoin today, popular Bitcoin advocate Max Keiser took to his Twitter page to ridicule the Tesla boss while recalling when gold bug Peter Schiff described Bitcoin as “intrinsically worthless” after he lost access to his BTC wallet.

“Who’s the bigger idiot?” Keiser asked.

Aside from Keiser, other Bitcoin proponents such as Michael Saylor replied to Tesla’s CEO:

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/ethereum-binance-coin-cardano-is-this-common-factor-a-reason-for-these-alts-pumping/?utm_source=rss&utm_medium=rss&utm_campaign=ethereum-binance-coin-cardano-is-this-common-factor-a-reason-for-these-alts-pumping

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AI

Bitcoin Price Hit 11-Week Low: BTC Retesting The Lowest Weekly Close Since February

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In early Sunday trading, BTC prices had fallen to their lowest levels for over 11 weeks, hitting $46,700 before a minor recovery.

The last time Bitcoin dropped to these levels was at the end of February during the second major correction of this ongoing rally. A rebound off that bottom sent prices above $60K for the first time in the two weeks that followed.

Later today, Bitcoin is going to close another weekly candle. In case the candle closes at those levels, this will become the worst weekly close since February 22nd, when BTC ended the week at $45,240, according to Bitstamp. Two weeks ago the weekly candle closed at $49,200, which the current lowest week close since February.

Second ‘Lower Low’ For Bitcoin

This time around, things feel slightly different and the bearish sentiment is returning to crypto-asset markets. Since its all-time high of $65K on April 14, Bitcoin has made a lower high and has now formed a second lower low on the daily chart, which is indicative of a larger downtrend developing.

Analyst ‘CryptoFibonacci’ has been eyeing the weekly chart which also suggests the bulls could be running out of steam.


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The move appears to have been driven by Elon Musk again with a tweet about Bitcoin’s energy consumption on May 13. Bitcoin’s fear and greed index has dropped to 20 – ‘extreme fear’ – its lowest level since the March 2020 market crash. At the time of press, BTC was trading at just under $48,000, down 4% over the past 24 hours.

Market Cap Shrinks by $150B

As usual, the move has initiated a selloff for the majority of other cryptocurrencies resulting in around $150 billion exiting the markets over the past day or so.

The total market cap has declined to $2.3 trillion after an all-time high of $2.5 trillion on May 12. Things are still high on the long term view but losses could accelerate rapidly if the bearish sentiment increases.

Not all crypto assets are correcting this weekend, and some have been building on recent gains to push even higher – although they are few in number.

Those weekend warriors include Cardano which has added 4.8% on the day to trade at $2.27 according to Coingecko. ADA hit an all-time high on Saturday, May 15 reaching $2.36, a gain of 54% over the past 30 days.

Ripple’s XRP is also seeing a resurgence with a 13% pump on the day to flip Cardano for the fourth spot. XRP is currently trading at $1.58 with a market cap of $73 billion. The only other two cryptocurrencies in the green at the time of writing are Stellar and Solana, gaining 3.7% and 12% respectively.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingenius.news/bitcoin-price-hit-11-week-low-btc-retesting-the-lowest-weekly-close-since-february-19/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-price-hit-11-week-low-btc-retesting-the-lowest-weekly-close-since-february-19

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