Solargiga sees 9.3% drop in H1 revenues

China's Solargiga Energy Holdings Ltd (HKG:0757) said today it expects to book a 9.3% year-on-year drop in revenues for the first half of 2018 to CNY 1.81 billion (USD 271m/EUR 231m).

The projections are based on unaudited operating statistics and reflect a decrease in revenues from the company’s production activities. Solargiga makes monocrystalline silicon ingots, wafers, cells and modules.

Revenues from production activities in January-June are expected to decline by 10.5% in annual terms to CNY 1.77 billion. Meanwhile, other revenue is seen at CNY 38.9 million, growing 143.1%. External shipment volumes are anticipated to improve by 3.9% to CNY 1.21 billion, according to the bourse statement.

Solargiga announced plans at the beginning of March to reach monocrystalline silicon (mono-Si) ingot and wafer capacity of 1.8 GW, solar cell capacity of 400 MW and photovoltaic (PV) module capacity of 2.2 GW from the second half of the year. At the end of 2017, its production chain included 1.2 GW monocrystalline silicon (mono-Si) ingot, 1.2 GW mono-Si wafer, 400 MW solar cell and 1.2 GW module capacity.

(CNY 1.0 = USD 0.150/EUR 0.128)

Choose your newsletter by Renewables Now. Join for free!