Dec 11, 2012 - Chinese solar module maker Hanwha SolarOne Co (NASDAQ:HSOL), a unit of South Korea's Hanwha Group, today posted a third-quarter net loss of CNY 322.1 million (USD 52m/EUR 40m), compared with CNY 177.6 million a year ago.
The difference came as the company booked a non-cash gain of CNY 1.2 million related to the change in fair value of its convertible bonds' convertible feature, compared with a non-cash gain of CNY 131.4 million in the same period last year.
Hanwha SolarOne's operating loss narrowed to CNY 251.1 million from CNY 327.8 million in the third quarter of 2011. Gross margin was negative 5.8% in the period, compared with positive 6.3% in the prior quarter, as a result of a drop in the average selling price which outpaced the fall in production costs. Gross margin was negative 10.8% in the same period last year.
Total revenue dipped 32.8% on the year to CNY 966.1 million. Quarter-on-quarter, revenue fell 9.9%, mainly because of weaker selling prices.
Photovoltaic (PV) module shipments, including module processing services, came in at 239.5 MW, up from 200.9 MW a year ago.