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LDK Solar Co., Ltd. Message Board

  • Jan 5, 2013 1:27 PM Flag

    Chinese PV company yields 130 mln yuan profit in 2012

    The solar section of the Chinese clean energy corporation CHNT Group pulled 130 million yuan profit in last year, according to Qiu Zhanwei, CEO of CHNT. Sales of PV products totaled more than 2.8 billion yuan, while the average price decreased by 50 percent and construction cost was 1.5 billion yuan, compared to several million in past years.

    With the advantages of the second generation of a solar film, CHNT entered into the PV industry five years ago. Nan Cunhui, president of CHNT said that the company successfully increased the conversion rate of thin-film solar cells to 12 percent. But the market changes so fast, they still have to find other ways to break the bottleneck.

    Figures from the statistics bureau show that production value of PV products in Zhejiang province last year was only 20 billion yuan, decreasing by 50 percent year on year. The operation rate for PV companies has only 50 percent of recent.

    "Even if you have the best film technology, you have to think over the way out, because the film tech has no advantages these days," said Nan.

    PV station construction is set in the agenda. Up to August 2012, CHNT has set up five PV stations in China's northwest provinces including Ningxia, Qinghai and Gansu. And the company has signed contracts with domestic energy companies for 500MW PV station construction.

    The company has also active in the foreign markets, now it has set up PV station in U.S., Bulgaria, South Korea, Thailand, Italy and South Africa.

    Now the company sees the prospects in the domestic market, "China will develop the PV market with 21 GW, now only 3GW projects have set up, there is plenty of room for us to produce," said Qiu.

    According to Nan, the energy generation capacity for their PV station will exceed 700MW, and they'll get 600 to 700 million yuan revenue purely from electricity fees. Now the company has set up a new energy research institute, which aims to combine their thin-film tech with other high-tech products.

    Sentiment: Strong Buy