Chinese module manufacturer ReneSola has turned down offers from China and India citing low profitability, it has emerged.
In its Q2 2014 results conference call yesterday, CEO Xianshou Li said the company was not interested in simply shipping as many modules as possible.
Speaking through IR director Laura Chen, Li said: “We don't really now focus too much on the quantity, the total shipments for a full year. Rather, we would focus on the profitability.
“We have refused to take some orders with very low ASP and low profitability; for example, the orders from
The company’s geographic spread of business in the second quarter was 40% in Europe, 20-25% in
The tactic highlights one problem with
The company said it was assessing its OEM and cell manufacturing capabilities to adjust for the new trade duties. It also revealed plans to increase its monthly output for the
“We've been looking at different parts of the world, looking to expand this cell capacity, but in the meantime really this
Lee also said the company had been building up inventory in
This article uses excerpts from Seeking Alpha's transcript.