China's Solargiga guides for 1.5% Y/Y rise in H1 revenues

China's Solargiga Energy Holdings Ltd (HKG:0757) last week said it expects its first-half revenues to register a 1.5% year-on-year rise, based on preliminary calculations.

Solargiga makes monocrystalline silicon solar ingots, wafers, photovoltaic (PV) cells and modules and is also involved in the engineering, procurement and construction (EPC) of solar plants. It said in a bourse filing that, according to unaudited operating statistics, its revenue in January-June will stand at CNY 1.84 billion (USD 267.4m/EUR 238.3m).

The improvement on a yearly basis reflects a 3.5% increase in revenues from production activities, seen at CNY 1.83 billion. Revenue from other activities, meanwhile, is expected to drop by 91.5% to CNY 3.3 million.

External shipment volumes are anticipated to be 32.7% higher than in the year-ago period, standing at 1,602 MW.

At the end of 2018, Solargiga's production capacity was 1.8 GW for monocrystalline silicon (mono-Si) ingot, 1.8 GW for mono-Si wafer, 400 MW for monocrystalline solar cell and 2.2 GW for modules.

(CNY 1.0 = USD 0.145/EUR 0.130)

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