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The Chinese PV Industry Brief: Tongwei raises solar cell prices

A Tongwei solar cell factory in China.
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Polysilicon supplier and solar cell maker Tongwei announced its new solar cell prices for August. Overall, all the prices for its monocrystalline PV products were raised. The manufacturer priced its PERC 158.75 mm cell at CNY1.12 (US$0.17) per W, with an increase of 3.7%, and its PERC 166 mm cells at CNY1.03 per W, with an increase of 3%. Furthermore, the company increased the price of its PERC 210 mm cells by 2% to CNY1.02 per W. The price of polycrystalline cells remained flat at CNY 0.73 per W.

Chinese-Canadian PV module manufacturer Canadian Solar was able to significantly improve revenue and shipments in the second quarter of the year, despite what its CEO, Shawn Qu, defined as challenging market conditions. The company achieved record sales of $1.43 billion during the period, which is 105% more than it did a year earlier and 31% more than in the first quarter of this year. Quarterly shipments, meanwhile, totaled 3.66 GW, up 26% year-on-year and 17% quarter-over-quarter. “We posted our highest quarterly revenue of $1.43 billion in the second quarter and made significant progress to capitalize on growth in the battery storage market,” said CFO, Huifeng Chang. “We ended the second quarter with $1.3 billion in cash, and have raised approximately $110 million to date from our at-the-market equity offering program, which is well on track.” Net profit declined from $23 million in the second quarter of last year to $11 million in the latest quarter. The company attributed this profit drop to lower gross profit and higher operating expenses and said it was also compensated by an unspecified income tax benefit.

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Source: pv magazine