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)