Three PV companies significantly reduce or predict losses

Today, the three photovoltaic listed companies, Sunflower, Chaori Sun and Tecsun New Energy also announced their 2011 performance forecasts. Among them, sunflower is expected to drop in profit by 90%. Chaoriyue expects profit to drop by 35% to 65%. Tuoxin can pre-lose 80 million to 90 million yuan. It seems that the winter of the photovoltaic industry has not yet passed.

Chaoyue Sun once predicted in the third quarterly report on October 22, 2011 that "2011 net profit attributable to shareholders of listed companies increased by 50%-70% over the same period of the previous year." The adjustment will be adjusted to "down 35%-65% over the same period of last year." Chaori Sun’s net profit for the year 2010 was RMB 220 million. This change in pre-reduction to pre-reduction resulted in a difference of more than RMB 200 million in the estimated profit growth of the company. The adjusted 2011 net profit was RMB 77 million to RMB 143 million. . This indicates the hardships of Chao Sun in the fourth quarter of 2011.

The GEM listed company’s sunflower forecasted a year-on-year decline of 90%-84% in 2011. It is expected to achieve a net profit of RMB 25 million to RMB 40 million, and EPS will only be 5 cents to 8 cents. Sunflower's net profit in 2010 was 250 million yuan, and EPS reached 0.53 yuan.

Among the three photovoltaic companies, the day is even harder when it comes to new solar energy. Topsun New Energy had a deficit of RMB135 million to RMB145 million for the full year of 2011, and its 2010 net profit was RMB96.27 million. In the third quarter report disclosed on October 22, 2011, Tuo Rixin was able to expect a loss of 80 million yuan to 90 million yuan in 2011. The fourth quarter of the business made Takuto New Energy even worse.

For the sharp decline in 2011 performance and even loss, the three photovoltaic industry companies have given corresponding explanations. Among them, there are several common reasons: First, the price of crystalline silicon photovoltaic cells and modules continued to drop in 2011, the gross profit margin fell; Second, the overall excess capacity of the photovoltaic industry, the supply is seriously greater than the demand; Third, due to the European debt crisis As a result of the global impact, the exchange rate of the euro has fluctuate greatly, resulting in a greater exchange loss on the books. In addition, the rise in domestic production costs and raw material costs also squeezed the narrow profit margins of the photovoltaic industry.

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