About Photovoltaic panels profit Tongwei
Net profit was CNY13.3 billion (USD1.83 billion) in the six months ended June 30, the Chengdu-based firm said in a semi-annual earnings report yesterday.
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6 FAQs about [Photovoltaic panels profit Tongwei]
What happened to Chinese solar company Tongwei?
CONTEXT NEWS Chinese solar company Tongwei on Aug. 30 reported a second-quarter net loss of 2.3 billion yuan ($323.5 million). Its gross profit margin fell to a 13-year low of 5% due to tumbling prices across the industry.
Why did Tongwei lose a billion yuan in Q2?
The urgency became clearer on Friday, when Tongwei reported a net loss of 2.3 billion yuan ($323.5 million) in the second quarter and gross profit margin at a 13-year low of 5%, per LSEG data, thanks to tumbling prices.
What is Tongwei polysilicon lead?
The quality, technical indicators and costs of Tongwei polysilicon lead globally, covering both electronic and solar grades.Tongwei has established strategic partnerships with several well-known downstream photovoltaic cell and module enterprises in China. The product quality has received high recognition in the market.
What is the quality of Tongwei crystalline silicon?
The product quality has received high recognition in the market. With a purity of 99.999999999%, the products represent the excellence of high-purity crystalline silicon "intelligent manufacturing in China". With the solid and robust upstream reserves within the industry chain, Tongwei entered the module business in 2013.
Why did Tongwei stock fall 5%?
Its gross profit margin fell to a 13-year low of 5% due to tumbling prices across the industry. Tongwei, whose shares have fallen about 40% over the past year, on Aug. 13 announced plans to acquire a controlling stake in smaller rival Runergy for up to 5 billion yuan. For more insights like these, click here to try Breakingviews for free.
What makes Tongwei a good company?
fishery facilities and equipment, and financing guarantees. Tongwei is a large multinational enterprise with eco-agriculture and new energy as our dual main business. Believing that “PV changes the world,” we take it as our responsibility to build a world-class clean energy supplier and a world-class safe food supplier.
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