Major monocrystalline wafer producer, LONGi Silicon Materials has reported wafer sales of 789MW for the first half of 2014, an increase 41% compared to the same period a year ago.
LONGi Silicon reported revenue of around US$236 million in the first six months of 2014, an increase of 49.87%, compared to prior year period. Net profit was around US$18.07 million, up 431.99% from the same period a year ago.
Wafer sales overseas accounted for just over 78% of total sales in the period. However, the company noted that growing demand in China, notably for Distributed Generation projects due to incentives would continue to drive demand for high-efficiency monocrystalline wafers.
The company has been focused on R&D activities across all wafer manufacturing processes with spending of around US$23.4 million in the period. The company had added 500MW of new capacity during the period to meet future demand.