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EnergyTrend is the leading website on green news since 2010 and is dedicated to provide market intelligence and to deliver the price information on green/renewable energy industry. EnergyTrend is also a global market research firm that has an insightful analysis in the scope of solar, lithium... More
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  • Shipments And Revenue Of Global First-tier PV Manufacturers Released, The Anti-dumping Policy Accelerates PV Applications Expansion 0 comments
    Jul 4, 2013 12:11 PM

    The 1Q13 financial results of PV manufacturers were successively released in June. Affected by the Q1 off season of the European market as well as the Chinese New Year off season, even though the reduced subsidy in Germany and U.K. has boosted demands, the amount of shipments of global PV manufacturers still decreased. However, since product price started to rise this year, their revenue didn't decline significantly.

    According to the Silver Member Report of EnergyTrend (a research division of TrendForce), the deficit of first-tier manufacturers was significantly reduced this quarter and their gross margin has started to rise from the bottom. In order to distribute risk, manufacturers have slowly shifted business to other markets; this will also be conducive to market expansion, and due to the increased price, PV manufacturers may start gaining profit.

    Benefiting from PV applications, US manufacturers still excelled in revenue performance

    Though US manufacturers didn't have the largest amount of shipments, they achieved the highest revenue and profit. This was mainly because they shifted their business to the downstream market; First Solar's power systems revenue this quarter accounted for 74% of their total revenue, and SunPower established many rooftop or large system constructions in North America, Europe and Japan.

    Chinese manufacturers are still gaining a considerable amount of revenue due to their large amount of shipments. Yingli has the largest amount of shipments and the highest revenue, but they also faced the highest net loss. This suggests that cost reduction no longer allows manufacturers to seize market shares; instead, increasing profit by their downstream system projects is the major solution. Considering the financial status of the manufacturers as well as the large amount of funds required for the downstream system investment, manufacturers who can maintain a balance between profit and funds will be able to perform successful business.

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    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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