Taiwan’s top 3 PV cell makers post significantly lower Aug 2016 sales

Solar cells. Author: Martin Abegglen. License: Creative Commons. Attribution-ShareAlike 2.0 Generic

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 August revenues in 2016 as compared to a year back.

The trio’s top line results slumped on a month-on-month basis, too. Neo Solar explained the decline in its last-month performance with weak average selling prices (ASP) for its products coupled with the Delivered At Place (DAP) payment terms adopted by some of its customers in August.

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

Name	Aug 2016 sales	y/y change	m/m change
Motech Industries	TWD 1.77 billion	-21.9%	-9.29%
Neo Solar Power	TWD 632 million	-68.04%	-51.65%
Gintech Energy	TWD 604 million	-57.9%	-28.7%

In terms of year-to-date accumulated sales, only Neo Solar saw its revenue decrease as compared to the same eight months of last year. Motech is on top of the rankings with an almost double January-August 2016 revenue over that of its local rivals.

Company	Jan-Aug 2016 sales	y/y change
Motech Industries	TWD 22.19 billion	+59.85%
Neo Solar Power	TWD 12.35 billion	-7.22%
Gintech Energy	TWD 10.96 billion	+10.2%

According to Neo Solar, the current outlook for the solar market is still uncertain, although the fourth quarter is usually the peak season for the PV industry. In order to improve its second-half revenues and profits, the firm plans to control its operating expenses and resources allocation more efficiently while concluding its capacity relocation and putting on stream a number of solar farms.

(TWD 10 = USD 0.319/EUR 0.283)

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