Oct 2016 sales decline for Taiwan’s top 3 PV cell makers

Solar modules. Featured Image: Jackiso/Shutterstock.com

November 16 (SeeNews) - Taiwan’s top three photovoltaic (PV) cell makers -- Motech Industries Inc (TPO:6244), Neo Solar Power Corp (TPE:3576) and Gintech Energy Corp (TPE:3514), all booked lower October revenues in 2016 as compared to the same month of 2015.

Revenues still climbed on month-on-month basis. Neo Solar explained the sequential improvement with recovering average selling prices (ASP) and demand for its products, coupled with higher utilisation rates of its cell production lines.

Details on the October performance of the three companies are available in the table:

Company Oct 2016 sales y/y change m/m change
Motech Industries TWD 1.53 billion -40.80% +11.43%
Neo Solar Power TWD 1.12 billion -53.39%  +8.17%
Gintech Energy TWD 822 million -41.1% +14.7%

In terms of 10-month accumulated sales, only Motech saw its revenue increase and its revenues surpassed by far the results of its peers.

Company Jan-Oct 2016 sales y/y change
Motech Industries TWD 25.1 billion +32.02%
Neo Solar Power TWD 14.51 billion -17.61%
Gintech Energy TWD 12.5 billion -1.8%

Neo Solar said in a press statement that it has completed its capacity relocation outside Taiwan.

(TWD 10 = USD 0.315/EUR 0.293)

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Militsa is mainly focused on the Chinese market and the rest of Asia with solar energy and offshore wind as her mantras.

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