Jolywood also noted that supply chain issues with some raw and auxiliary materials had been in short supply, forcing a suspension of work at times that also increased manufacturing costs. Image: PV Tech
China-based PV backsheet and high-efficiency PV manufacturer Jolywood (Suzhou) Sunwatt Co expects to report a small loss in the first quarter of 2020 due to the impact of COVID-19 on its materials and solar module manufacturing operations.
Jolywood said that it expected to report a loss in the range of RMB 17 million to RMB 22 million (US$2.4 million to US$3.1 million) in Q1. The company had reported a US$3.93 million net profit in the first quarter of 2019. Jolywood is expected to report 2019 and Q1 2020 financials before the end of April.
The company cited several COVID-19 issues that related to the expected losses for the reporting quarter, which included delays in restarting production due to difficulties of employees returning to work and well as logistics and transportation restrictions.
Jolywood also noted that supply chain issues, stating that some raw and auxiliary materials had been in short supply, causing a suspension of work at times as well as increased manufacturing costs.
At its PV module manufacturing subsidiary, Jolywood (Taizhou) Solar Technology Co, the company noted that after a recent capacity expansion phase, sales volume was impacted by COVID-19, reducing profits and adding costs, also contributed to the expected losses in Q1.
Nov 12, 2020
The webinar will feature presentations from Cherif Kedir, CEO at RETC and Finlay Colville, head of research at PV-Tech, covering the latest developments related to PV module testing, reliability and bankability. Specific attention will be afforded to RETC's hail durability testing (HDT) process, and PV-Tech's bankability analysis for utility scale deployment in the US today.
Jun 15 - Jun 16, 2021
The Utility Solar Summit UK will focus entirely on the opportunities in the UK ground-mount space and feature the new technology and advanced innovations allowing asset owners to improve yield in a subsidy free market. Listen to senior market leaders share stories of their successes and manufacturers pushing the envelope for solar PV whilst taking advantage of our enhanced networking features to connect you with your peers onsite; realising the potential of UK utility scale deployment from 2020 and beyond.
Mar 10 - Mar 12, 2021
Penang, Malaysia (also available virtually)
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. This event will be run as a live event in Penang for delegates able to attend and will also welcome virtual delegates via streamed content and online networking.
Oct 27 - Oct 29, 2020
Going into its fifth year over 200 delegates from 150 companies and 20 countries representing the PV supply chain will gather (virtually, due to COVID-19) for 3 days to discuss the technology roadmaps for PV cell advancement in GW markets. The scope of the event has been expanded this year, to cover developments in wafer supply and thin-film investments and technologies alongside all the regular benefits to all stakeholders tracking PV technology and investment trends for the next 5 years.