Chinese tier one PV manufacturer, ReneSola has significantly revised upwards its sales and shipment guidance for the second quarter of 2013.
The company said that it expected total solar wafer and module shipments to be in the range of 760MW to 770MW, compared to its previously guided range of between 700MW to 720MW.
As a consequence, revenue is expected to be in the range of US$365 million to US$375 million, compared to its previously guided range of US$310 million to US$330 million.
Xianshou Li, ReneSola's chief executive , said: “Amid a challenging macro environment, we have transformed our company into a global solar brand and technology leader. Furthermore, we have substantially expanded our solar module business in several key international markets through effective sales and marketing of our leading-edge, proprietary technology while leveraging our efficient manufacturing processes. With the support of our growing downstream businesses, we expect to deliver improved results in the second half of 2013.”
ReneSola also said that its gross margin was expected top to be in the range of 5-6%, compared to a range of 3-5% previously guided.
As a result of the increased sales and shipments in the second quarter, the company revised its 2013 shipment forecast to between 2.8GW to 3.0GW, compared to its previously guided range of 2.7GW to 2.9GW.