Chinese PV developer and EPC specialist Xinyi Solar recorded a net profit of HK$1,254.9 million ($160.5 million) in the first half of 2017, up 12.5% from the preceding year, as its downstream unit's cumulative installed capacity passed the 1 GW mark.Revenue surged 67.2% year on year to HK$5,309.7 million in the six months to the end of June, according to a statement to the Hong Kong stock exchange. Cash on hand reached HK$2,449.7 million, from just HK$843.3 million at the end of December. The company posted a full-year net profit of HK$1,985.6 million in 2016, up roughly 65% from the preceding 12-month period.
Its parent, Xinyi Glass, reported a net profit of HK$1,635.9 million in the first half of 2017, up 19.5% on the year. The group partly attributed its strong earnings in the January-June period to unexpectedly high solar installations in China, which supported rising sales of its solar products in the first half. Revenue from sales of ultra-clear PV raw glass edged up by 1.2% on the year to HK$2,447.3 million.
However, the group said its PV development and EPC service units contributed to its strong earnings and "remarkable" revenue gains. Xinyi Solar's downstream business accounted for roughly 31.3% of its gross profit in the first ...Den vollständigen Artikel lesen ...