Renesola 2014 Q2 profit track gross margin of 14.7%

Polaris solar PV net news: Jiangsu, Zhejiang Yuhui solar energy Ltd (hereinafter “renesola”) 2014 released second-quarter earnings and revenue of $ 387 million, compared with a slight increase; solar wafer and module shipments 698 MW; operating margin 2.7% and net profits of $ 757,000.

Performance points

Solar module shipments 498.7 MW, respectively, and the last quarter from a year earlier to 434.1 MW with 521.1 MW Solar Wafers with 698.3 MW, last year and last quarter was 849.3 MW and 710.1 MW respectively.

Net revenues of $ 387 million, respectively, to 377 million dollars last year and the last quarter with $ 415 million

Gross profit of $ 56.9 million, $ 30.4 million, respectively, and the last quarter over the same period last year and US $ 44 million; gross profit 14.7%, and 8% respectively last quarter and from a year earlier to 10.65

Operating profit of $ 10.6 million, last year and last quarter-$ 16.6 million and $ 8.7 million, respectively; operating margin 2.7%, last year and last quarter-4.4% and-2.1% respectively

Net profit attributable to common shareholders of $ 800,000, and basic and diluted earnings per share of $ 0.00 United States deposited securities or diluted earnings per share of $ 0.01

By the end of the second quarter of 2014, total cash, cash equivalents and restricted cash of $ 218.8 million, by the end of last year, and at the end of the last quarter respectively us $ 405.8 million and the total cash of $ 214.9 million

Operating activities generated cash flows of $ 40.6 million, last quarter over the same period last year was 65.5 million US dollars and 112.3 million US dollars

“The second quarter, renesola profit track, gross profit margin of 14.7%–ahead of market consensus forecasts and we expected, we are extremely pleased about this. “Said renesola Chief Executive Li Xianshou,” continued to improve operations and differentiation and competitive global business model jointly promote renesola’s performance in the second quarter. Based on this, we expect the second half of 2014 renesola stronger earnings. ”

“With the PV trade dispute to break out across the globe, China International Solar manufacturers face increasingly challenging business environment. However, renesola will with a differentiated business model opened up a place in the international market. With our global network of OEM partnerships, we have a strong international and local operations and extensive network of overseas production. In particular, we have set up 11 manufacturing facilities in 7 countries, capacity up to 1.1 GW. Framework of globalization to ensure that we are able to quickly adapt to changes in the global market. Continued to invest in global network strategy is for us to win new customers, and gain industry recognition of our solar energy products. ”

Shipments of components in each chart

“Whether it’s domestic or overseas OEM business, we are committed to cutting costs. The strategy has helped us made competitive in the industry’s gross margin in the second quarter. In addition, a total of polysilicon production capacity and internal operations more efficient and effective process control and further promoted the growth of performance. Looking to the future, we will strive to further cut costs, improve our profitability. ”

PV module with wafer shipments

“We have continued to see overseas target market holds in commercial and retail markets with high growth potential. With our extensive and continuously expanding global network business, we expect that average selling prices relatively high and has a preferential payment conditions for commercial and retail markets will emerge more and more business opportunities. Up to now, our customer base exceeds 1800, around the world in 77 countries and regions. Second half, we will continue to actively expand the customer base, to our fast growing customer base (many retail industry) offers a full range of renesola brands of solar and renewable energy products. ”

Performance expectations

Renesola expects third quarter of 2014, between 530-550 MW of solar module shipments, gross margin range is 15%-17%.

Original title: renesola 2014 Q2 profit track gross margin of 14.7%

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