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China Sunergy Q3 revenue $111.1 million, up 27%

Staff writer |
China Sunergy announced its financial results for the third quarter ended September 30, 2015. Total revenue was $111.1 million.

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This is an increase of 27% from $87.5 million in the second quarter of 2015. The revenue for self-branded products totaled $107.3 million and the revenue for the products processed under the OEM arrangement was $2.6 million.

Shipments totaled 308.9MW, an increase of 67.4% (124.4MW) from 184.5MW in the second quarter of 2015. Module shipments, including module processed under OEM arrangement of 54.3MW, were 208.4MW. Cell shipments, including cell processed under OEM arrangements of 6.1 MW, were 100.5MW.

Average selling price (ASP) for the company's modules, excluding those processed under OEM arrangements, was $0.52 per watt, compared with $0.58 per watt in the second quarter of 2015.

Gross profit was $3.3 million and gross margin was 2.9%, compared with gross profit of $6.1 million on gross margin of 6.9% in the second quarter of 2015. Net loss attributable to ordinary shareholders was $22 million, compared with $10.5 million in the second quarter of 2015.

Net loss attributable to ordinary shareholders per ADS was $1.48, compared with $0.71 in the second quarter of 2015.


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