9-mo sales grow for 2 of Taiwan’s top 3 PV cell makers

Solar cells. Author: Arne Krueger. License: Creative Commons.

Two of Taiwan’s top three photovoltaic (PV) cell makers, namely Motech Industries Inc (TPO:6244) and Gintech Energy Corp (TPE:3514), booked higher January-September revenues in 2016.

Neo Solar Power Corp’s (TPE:3576) top line result declined by 11.94% in annual terms. Motech remained on top of the 2016 rankings with an almost double revenue over that of its local rivals.

Details on the January-September performance of the three companies are available in the table.

Name	Jan-Sept 2016 sales	y/y change
Motech Industries	TWD 23.57 billion	+43.5%
Neo Solar Power	TWD 13.39 billion	-11.94%
Gintech Energy	TWD 11.67 billion	+3.1%

In September, the three leading solar cell makers in Taiwan saw their sales decrease substantially as compared to last year. There has been a slowdown globally and especially in China, hurting solar equipment prices and suppliers' performance.

Name	Sept 2016 sales	y/y change	m/m change
Motech Industries	TWD 1.37 billion	-45.92%	-22.61%
Neo Solar Power	TWD 1.04 billion	-45.15%	+64.17%
Gintech Energy	TWD 716 million	-48.4%	+18.6%

According to Neo Solar, the industry should still remain cautious about the future PV market outlook. In order to improve its second-half 2016 revenues and profits, the firm plans to continue controlling its operating expenses while putting on stream and selling a number of solar farms with its downstream unit General Energy Solutions Inc (GES).

(TWD 10 = USD 0.289/EUR 0.317)

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