Solargiga Announces 2014 Interim Results

Published on 29 Aug 2014
Solargiga Energy 
August 28, 2014 - Solargiga Energy Holdings Limited is pleased to announce the unaudited interim results for the six months ended 30 June 2014 (the "Period", "1H2014").

Financial Highlights


In the first half of 2014, with continuous growth of demand and a more balanced supply and demand, the industry environment has gradually improved and moved forward to a stable development. Under the backdrop of favourable policies and the recovery of photovoltaic industry, the Group achieved remarkable results during the period under review. Maintaining its profitability in the second half of 2013, the Group's turnover recorded a significant increase of 85.9% to RMB 1,522.285 million in 1H2014. During the period under review, gross profit surged by 6.7 times to RMB141.42 million, while the gross margin increased 7 percentage points to 9.3%. Benifiting from the improvement of the Group's operation situation, net loss attributable to the equity shareholders of the Company for the period under review decreased significantly by 88.1% to RMB16.295 million. In addition, EBITA for the period under review surged to RMB143.428 million, representing a remarkable improvement as compared with the recorded loss during the same period of last year. As maintaining a good cooperation with main customers during the period under review, the Group's external shipment volume greatly increased by 66.1% to 530.47MW over the same period of last year.

Mr. HSU You Yuan, Executive Director and CEO of Solargiga, said, "Based on the continued technological advancement of the solar industry, unit power generation cost was significantly reduced. Therefore, sustaining the recovery of the industry beginning from the second half of 2013, the photovoltaic industry has moved forward to a new stage of stable development in the first half of 2014, in spite of the still numerous protective measures for international trading in the market. Under the backdrop of the recovery of the industry, demand in the photovoltaic industry would be greatly increased and thus it is foreseen that the market would undergo continuous expansion. Riding on the global solar industry development trend and great support provided by the PRC policies, the Group will continue to put its advantage of vertical integration into play to secure its leading technological status for its upstream and midstream products, including silicon ingots, wafers, cells and modules. Apart from maintaining a stable operation with its customers in Japan, the Group will also take an active role in expanding its cooperation with Mainland and Taiwan customers to drive income growth."

"Meanwhile, the Group will keenly explore downstream business on the construction of photovoltaic power plants (EPC) as well as the operation and maintenance of various solar power plant systems. On top of keeping up the original stable development in the PRC and Germany, the Group will strive to facilitate the market development in emerging regions, such as Africa, Southeast Asia, Turkey and other markets in the Balkan Peninsula with an aim to vitalize its profitability."


Source: Solargiga
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