Solargiga’s monocrystalline product sales and shipments sink in Q3

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Total product shipments reached 376MW in the third quarter, down around 15% from the previous quarter.

Integrated China-based monocrystalline PV producer, Solargiga Energy Holdings has reported certain unaudited operating figures for the third quarter of 2016, indicating a significant revenue and shipment decline, compared to the previous quarter.

Solargiga reported total preliminary third quarter 2016 revenue of around RMB 687 million (US$102 million), down over 24% (US$134.5) million from the previous quarter.

Revenue for the first nine months of 2016 was RMB 2,410 million (US$357.5 million), up 23.5% (US$289.4 million) from the prior year period. 

Total product shipments which included processing service; sales of silicon solar ingots, wafers, cells and photovoltaic modules; and the engineering, procurement and construction of photovoltaic systems service reached 376MW in the third quarter, down around 15% from the previous quarter when shipments reached 442MW.

Shipments in the first nine months of 2016 reached 1,125.5MW, up from 763.9MW in the prior year period, a 47.3% increase from the prior year period. 

Solargiga is one of the first China-based producers to provide insight into third quarter financials after a major slowdown in PV project development in China at the end of the second quarter of 2016, which has driven a rapidly developing period of overcapacity, resulting in steep price declines.

Read Next

October 13, 2021
Reliance New Energy Solar (RNES) has invested US$29 million in German wafer technology company NexWafe’s Series C financing round as it looks to establish wafer production facilities in India.
May 10, 2021
LONGi Solar has set a record conversion efficiency of 25.09% for its N-type monocrystalline bifacial TOPCon cell that has been independently verified by the Institute for Solar Energy Research in Hamelin.
February 9, 2021
Major ‘Solar Module Super League’ (SMSL) member JinkoSolar has extended its supply chain cooperation with major polysilicon and merchant solar cell manufacturer Tongwei Group, with Tongwei gaining extra gigawatts of mono wafers from JinkoSolar.
February 4, 2021
Fraunhofer ISE spin-off NexWafe has raised €10 million in a new Series B round of funding as the company moves to another pilot production phase.
February 2, 2021
Large-wafer size producer Tianjin Zhonghuan Semiconductor (TZS) is to build a new 50GW 210mm (G12) mono-wafer manufacturing hub in Ningxia Hui Autonomous Region at a cost of around RMB12 Billion (US$1.86 billion).
February 2, 2021
The solar industry's two largest enterprises, GCL and LONGi have signed a major polysilicon supply deal, the first time the rivals have entered into a major business deal together.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal