Although the stock price continued to fall, the net revenue of US-listed PV companies such as Wuxi Suntech, Yingli, and Linyang New Energy, which were listed in the US, increased significantly. Among them, Wuxi Suntech, the leading boss, holds the highest cash holdings.
Yesterday, the stock price of PV companies listed in the US continued to decline in recent months. Among them, the market value of photovoltaic faucet Wuxi Suntech has shrunk by 192.6 million US dollars a month, with a contract of RMB 1.28 billion.
In the third quarter, US stock PV companies saw a significant increase in net revenue. Among them, Wuxi Suntech’s total net revenue was $743.7 million, ranking first in cash holdings.
The share price has fallen and the revenue has risen
Yesterday, the photovoltaic faucet Wuxi Suntech closed at $7.14. Wuxi Suntech’s share price on November 1 was $8.21. In other words, in a month, Wuxi Suntech's share price fell by 1.07 US dollars. Based on the total share capital of 180 million shares, Wuxi Suntech's market value shrank by 192.6 million US dollars a month, with a contract of 1.28 billion yuan.
Coincidentally, Yingli, Linyang New Energy and other PV companies listed in the US have also seen a downward trend in recent months. Yingli New Energy fell 4.65% yesterday.
Just recently, Wuxi Suntech, Yingli, and Linyang New Energy announced their third-quarter earnings. The data shows that although the stock price continued to fall, the total net revenue in the third quarter showed a growth trend. Wuxi Suntech’s total net revenue for the third quarter was US$743.7 million, a year-on-year increase of 19.0% and a year-on-year increase of 57.2%. In the third quarter, Linyang New Energy's net revenue was US$326.7 million, an increase of 24.7% from the previous quarter and an increase of 121.5% from the same period last year.
In addition, the amount of cash owned by Yingli has increased from 577 million US dollars at the end of the second quarter to 630 million US dollars; Yingli has not used a short-term credit line of 4.848 billion yuan. Wuxi Suntech holds cash and cash equivalents totaling $946.2 million, up from $766.5 million at the end of the second quarter.
Yingli gross profit margin was overtaken
In the third quarter, Yingli's gross margin was 33.3%, slightly lower than 33.5% in the second quarter of this year. The lower average selling price of PV modules is the main reason for the decrease in gross profit margin. The average price of PV modules declined significantly in the third quarter, which directly led to a decline in the gross profit margin of PV modules and directly dragged down the overall profit margin performance of Yingli. Yingli’s third-quarter net profit surged 109.4% qoq to reach $68.2 million.
In the third quarter, Wuxi Suntech's adjusted gross profit was $122 million, and the gross profit margin was 16.4%. The adjusted gross profit for the previous quarter was $113.9 million and the gross profit margin was 18.2%. Wuxi Suntech’s third-quarter net profit was $33.1 million, and the diluted earnings per ADS was $0.18. The net loss for the previous quarter was $174.9 million.
Linyang New Energy's gross profit for the third quarter was US$74.2 million, up 34.6% from the previous month and up 142.8% from the previous year. The gross profit margin was 22.7% in the third quarter, 21% in the second quarter and 20.7% in the same period last year. The increase in gross profit was mainly due to the average sales. Price increased.
In the third quarter, Jingke Energy, which ranked fourth in the sector and also supplied PV modules, surpassed Yingli in the gross profit margin, reaching 33.5%.
Both increased shipments in the fourth quarter
Wuxi Suntech expects shipments of PV modules to increase by at least 10% in the fourth quarter compared to the previous quarter. The goal of Wuxi Suntech is that in 2010, the shipment of solar products exceeded 1.5GW, an increase of at least 113% compared with last year. Complete 1.8GW component and module capacity installation by the end of this year. If the exchange rate of 1 euro to 1.35 US dollars is used, the adjusted gross profit margin in the fourth quarter is expected to be about 17%.
Lin Yangxin Energy said that in the fourth quarter of this year and in the future, PV market demand will continue. It is estimated that component shipments in the fourth quarter of 2010 will reach 205 MW to 215 MW, of which PV module processing services account for 30%; average sales price growth is limited, the company will target the full year 2010 shipments by The original 750 MW has increased to 785 MW, of which PV module shipments will decline slightly.
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