Chinese Trony Solar warns of lower profit on strong competition
Dec 29, 2011 - Chinese thin-film photovoltaic (PV) firm Trony Solar Holdings Co Ltd (HKG:2468) said today it expected to post a significantly lower net profit in the six months to December 31, due to severe competition.
A year ago, the company reported a first-half net profit of CNY 261.9 million (USD 41.4m/EUR 32m) on revenues of CNY 900.7 million.
For nearly a year now, falling PV product prices have been weighing on the bottom lines and margins of many solar power equipment makers. Nearly all sector firms posted losses in the third quarter of 2011. Competition within the sector is growing.
Trony Solar said it would publish its report for the first half of fiscal 2011/12 by February 29.