Solargiga’s revenue down less than 10% in 1H 2018

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Total external product shipments were 1,207MW, up 3.9% from the prior year period. Image: Solargiga

China-based integrated monocrystalline PV manufacturer Solargiga Energy Holdings has reported a small increase in external shipments in the first half of 2018, while revenue declined by less than 10%.

Solargiga has reported certain unaudited consolidated financial results ahead of full disclosure that included total revenue in the first half of 2018 of RMB 1,805.5 million (US$270 million), a 9.3% decline from the prior year period.

Solargiga has reported certain unaudited consolidated financial results ahead of full disclosure that included total revenue in the first half of 2018 of RMB 1,805.5 million (US$270 million), a 9.3% decline from the prior year period.

The sales decline is believed to be primarily due to ASP declines.

Total external product shipments were 1,207MW, up 3.9% from the prior year period. 

Solargiga had previously reported 2017 revenue of RMB 3,999 million (US$637 million), which was an increase of 32% from RMB 3,020 million in 2016. The increase in revenue was attributed to several key factors, not least the record PV installations in China in 2017 that exceeded 53GW.

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