The Chinese solar firm sees Q4 revenue slump 21.7% YOY, with gross profit also contracting 89.5%. Full year financials reveal similar losses as the company continues its shift towards downstream project development.ReneSola - a leading Chinese solar power company - has posted relatively heavy fourth quarter (Q4) losses for 2016, capping the end of a year that saw the firm's revenue contract 27.5% against 2015.
Over the course of 2016 ReneSola's revenues were $929.8 million, down from $1,282 million in 2015. Gross profit for the year also slumped, falling 41.7% from $187.9 million in 2015 to just $109.5 million last year.
The fourth and final quarter of the year did, however, signal signs of improvement for the firm, which is shifting its business focus from production to downstream power projects. In Q4, revenue of $232.1 million was in line with the $220 million to $240 million ...Den vollständigen Artikel lesen ...