Another poor financial report has been posted, this time from China, however in announcing an operating loss China Sunergy has announced that the results mark a turning point as the company diversifies its marketing and sales operations into new regions.
China Sunergy is looking to future growth in demand from North American and Indian markets and Q2s increased operating expenses, or $15.1 million, were in part attributed to marketing and sales expansions in these markets. Last month, China Sunergy launched its US offices in San Francisco and appointed a US CEO.
Q2 also saw the company sign its first Indian contract. The 13 MW supply contract was with Visual Percept Solar Projects Private Limited, which will pursue projects under Indias National Soalr Mission.
In other quarterly highlights, China Sunergy also announced it would expand its solar cell operations in Yangzhou, Jiangsu Province by one gigawatt. The first 500 MW line is expected to be in operation in the first half of 2012. The plant will produce China Sunergys Quasar cells which has recorded a highest batch efficiency of 18.6 percent.
Third quarter guidance
China Sunergy expects to ship between 140 MW and 160 MW in quarter three which will represent a gross margin between four and five percent. Full year expectations stand between 470MW and 500MW.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.