Shunfeng trims net loss, improves sales

Chinese solar PV manufacturer and clean energy company, Shunfeng International Clean Energy (SFCE) has seen considerable improvement in its 2017 financial results.

The company, in fact, saw turnover climb by 21% on 2016, with net loss improving by around 65.2%.

Total sales amounted to 10,017 million CNY (US$1.58 billion), compared to 2016, where turnover reached about 8,276 million CNY. Meanwhile, net loss improved year-on-year, from 2,399 million CNY ($380.5 million) to 834 million CNY ($132.2 million).

Around 82% of the company’s revenue for last year came from the sale of solar products, which accounted for 8,249 million CNY, while the solar power operation segment accounted for 1,320 million CNY, thanks to a revenue increase of around 22.9%.

Overall, Shunfeng shipped approximately 3.85 GW of PV products last year, up 30.6% from 2016, when total shipments hit 2.95 GW.

Of the 3.85 GW shipped in 2017, 37.6 MW were for wafers, 1,346 MW for solar cells, and 2,475 MW for PV panels. China was still the company's largest market, accounting for 74.9% of total sales.

As for its solar power sale business, Shunfeng said its operational PV plant portfolio had reached around 1.5 GW as of the end of December 2017, and that sales of power for last year totaled 1,564 million kWh, up 17.8% from 1,328 kWh in 2016.

“Apart from leveraging on the positive brand awareness of “Shunfeng” and “Suntech” established over years in the global market to continuously expand the businesses of  construction and operation of global solar power plants and manufacturing of solar products, the Group also pursues other clean energy related businesses to realise diversified business development,” the company said in its statement.

As of the end of December, the group had 6,397 employees, while at the end of the prior year their number stood at 6,921.