Sunova Solar Technologies Co., LTD – operating under the brand names Sunova Solar and Thornova Solar – was rated 3AA2 by Dun Bradstreet on April 10, 2024.
With the 3AA2 rating from Dun Bradstreet, Sunova Solar Technologies Co, Ltd. continues to prove that it is a trustworthy partner for its stakeholders, with a good financial strength and overall rating, as well as prompt and timely payment from suppliers.
Wuxi 13.05.2024 – We are very proud to announce that the world’s leading provider of business data and analysis – Dun Bradstreet – has rated Sunova Solar Technologies Co., Ltd. at 3AA2.
“This underlines the financial strength of the company, which is classified as moderate with low risk, as well as the low risk of late payment with an average payment period of 18 days before the due date. This makes us a very reliable partner for our suppliers and confirms our customers’ trust in us as a sustainable company that will survive in the market in the long term,” says Mike Song – Founder and Chairman of Sunova Solar, adding: “We encourage all our stakeholders to take the full assessment.”
The risk assessment consists of the EMMA score for the relative risk, the company’s PAYDEX® and the DB rating.
The DB EMMA Score (Emerging Market Mediation Alert Score) is a risk assessment model developed for emerging markets. It is a score developed using data profiling and statistical modeling that predicts the possibility that a company is in a dangerous state of instability or unreliability, such as poor finances, late payments, obsolete inventory, abnormal operating condition, etc. The EMMA score gives you a quick assessment of a company’s risk and, together with other information, allows you to make better risk decisions. The EMMA score is based on a scale of 1 to 10, with 1 indicating a lower risk and 10 indicating a higher risk. Sunova Solar Technologies achieved 3, which corresponds to a moderately low risk rating.
The DB PAYDEX® is a unique indicator of payment behavior, weighted by the monetary value of payment experiences reported to DB by industry references. PAYDEX® rates companies on a scale of 0 to 100 based on the average payment duration compared to the contract terms. A PAYDEX® score of 80 means prompt payments, less than 80 (down to 1) means slow payments and more than 80 (up to 100) means payment before due date. Sunova Solar Technologies pays on average 18 days before the contractually agreed due date.
The financial strength indicator provides information on the company’s ability to cope with unfavorable trading periods or to take advantage of investment opportunities. It is determined on the basis of the current tangible net worth. Sunova Solar Technologies Co, LTD has achieved 3AA, the third highest possible score after 5AA and 4AA.
The overall rating, the so-called composite credit appraisal, is a rating system with the numbers 1 to 4, which makes up the second half of a company’s rating and reflects Dun Bradstreet’s overall assessment of the company’s creditworthiness. The composite credit appraisal is based on Dun Bradstreet’s analysis of company payments, financial information, public records, business age and other important factors (where available).
A “2” is the highest possible composite credit rating for a company that does not provide Dun Bradstreet with current financial information. As Sunova Solar Technologies is not a listed company, only limited financial information has been made available.
About Dun Bradstreet
Founded nearly 200 years ago, Dun Bradstreet is a global, data and analytics-driven company with more than 6,000 employees worldwide that helps clients and partners grow and thrive through data, analytics and data-driven solutions. Dun Bradstreet’s data and insights are valuable at all stages of the business lifecycle and in all economic environments. More than 90 percent of the world’s Fortune 500 organizations leverage Dun Bradstreet’s global data capabilities, analytical insights and end-to-end solutions to support business strategy and intelligent decision-making. Dun Bradstreet helps its clients increase revenue, reduce costs, manage risk and drive digital transformation in a variety of use cases, including customer data management, foreign marketing, trade credit, supplier management, compliance management, ESG and financial inclusion. Dun Bradstreet’s global data currently contains business information on more than 560 million organizations and continues to expand the scope, depth, variety and accuracy of business data.
About Sunova / Thornova Solar
Sunova Solar and Thornova Solar are Tier 1 companies that focus on energy solutions and the development and manufacture of components for renewable energies such as photovoltaic modules, solar cells, inverters and solar battery storage solutions.
Our research and development team focuses on the continuous development of innovative solar technologies for decentralized rooftop generation and for the ground-mounted systems market.
With our state-of-the-art automated production facilities, we deliver the reliability and performance that you and your customers expect. Our local warehousing and logistics support around the world ensure that your projects are always installed on time.
Sunova Solar currently operates 4 production facilities in China and Vietnam and is building 2 more factories. By the end of 2024, we will have a fully operational capacity of 10 GW of PV modules and 9 GW of solar cells. All our plants in China are located outside the Xinjiang region.
For further information please contact
Shanghai Dun Bradstreet Business Information Consulting Co., Limited
zhaos@dnb.com
+86400-820-3536 (Shanghai)
www.dnbchina.com
Sunova Solar / Thornova Solar
Andrea Bodenhagen
Director Global Branding
Andrea.bodenhagen@sunova-solar.com
Andrea.bodenhagen@thornovasolar.com
+49-1590-1621062
www.sunovathornova.com