‘Solar Module Super League’ (SMSL) member GCL System Integration Technology (GCL-SI) has reported preliminary ‘express’ financial results for 2018, noting a return to a small profit, despite ASP declines impacting total revenue.
The SMSL reported preliminary full-year 2018 revenue of around RMB 11.12 billion (US$1.65 billion), down 23% from RMB 14.44 billion in the previous year.
GCL System Integration Technology reported preliminary full-year 2018 revenue of around RMB 11.12 billion (US$1.65 billion), down 23% from RMB 14.44 billion in the previous year.
GCL-SI reported it had eaked out a small operating profit in 2018 of RMB 70.9 million (US$10.5 million), compared to an operating loss of RMB 30.9 million in 2017, equating to a 329.06% increase over the previous year.
The net profit attributable to shareholders declined 42.7% in 2018 to RMB 41.5 million (US$6.1 million).
The SMSL noted that the operating income was affected by the decline in the market price of module products, after the implementation of the China 531 New Deal at the end of May, 2018.
However, GCL-SI said that it was able to maintain module shipments in-line with shipment figures in 2017. This was achieved by increasing its overseas business to account for over 50% of shipment totals. The company was represented in 40 countries in 2018, according to the company.
Efforts were also implemented to reduce production costs, intended to limit gross profit margin declines, as well as reducing debt via asset sales and turning to an asset-lite business model. The company also sought to improve its account receivables, via a factoring deal to improve its balance sheet.
PV CellTech is a truly unique event attended by all of the world’s top cell manufacturers, equipment and material suppliers to shape the PV cell technology roadmap. Join us to learn from and network with the PV industry’s leaders.
Understanding bifacial’s true potential: technology innovation and technical bankability of bifacial
The deployment of bifacial PV technology is growing rapidly. It has proven to be the most effective solution to reduce levelised energy costs (LCOE) and increase the Investment Rate of Return (IRR) of PV systems, offering substantially improved energy yield compared to the use of standard mono-facial modules. Even though the concept is not new, it has been a niche technology for many years with uncertainties in predicting performance and optimizing installations. Today, bifacial technology is becoming mainstream, with capacity available at the multi-gigawatt scale and with corresponding global deployment of project pipelines. Join this webinar, presented by Andrea Viaro, as he discusses the award-winning Swan bifacial module with transparent backsheet from DuPont, its features, benefits and differences vs. standard glass-glass modules. Jinko Solar’s new bifacial technology innovations will also be highlighted, specifically covering profitability in deployment at utility-scale PV power plants. Andrea will be joined by Dr.Lars Podlowski who will give a comprehensive introduction to all aspects of bifacial PV technology, with a special focus on benefits and risks industry buyers and investors should pay attention to.
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability.