Jun Yang Solar expects to turn profitable in H1 2013
Aug 7, 2013 - Hong Kong-based Jun Yang Solar Power Investments Ltd (HKG:0397) said on Tuesday it expects to book profit in the first half of 2013 after losing HKD 351.4 million (USD 45m/EUR 34m) in the year-ago period.
Jun Yang is the solar power group that was formerly known as China Gogreen Assets Investment Ltd. It said that the projected turnaround was mainly due to a gain on the change in fair value of held-for-trading investments, gain on disposals of company units, as well as a fair value gain on convertible notes.
The firm did not provide any exact figures and said it was still working on its interim financial report for January-June.
Jun Yang Solar is a maker of solar photovoltaic (PV) modules that in 2012 diversified into the downstream project development segment.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.