Singyes Solar net profit grows 7.7% in H1 2015

China-based firm Singyes Solar Technologies Holdings (HKG:0750) said Wednesday its attributable net profit for the first half of 2015 has grown by 7.7% on the year to CNY 223.2 million (USD 34.8m/EUR 30.7m).

Singyes Solar makes conventional curtain walls and building integrated photovoltaic (BIPV) systems and also sells BIPV components, solar thermal collectors and other products. It reported a January-June pre-tax profit of CNY 283.7 million, up from CNY 255.6 million in 2014.

Gross profit margin grew to 23.3% from 21.5%. Gross margin at the solar engineering, procurement and construction (EPC) business, which includes BIPV, rooftop and ground-mounted solar systems, was 28.7%.

Singyes Solar’s revenue for the first six months of the current year fell to CNY 2.18 billion from CNY 2.29 billion a year back. The decrease in the firm’s top line result was somewhat offset by higher deferred income released, interest income on retention money and bank interest income. Meanwhile, revenue from the solar EPC segment alone jumped by 32.4% year-on-year to CNY 1.03 billion.

(CNY 1.0 = USD 0.156/EUR 0.138)

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