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PV conductive paste maker Giga Solar Materials has reported consolidated revenues of NT$3.096 billion (US$98.1 million), gross margin of NT$20.88%, net operating profit of NT$472.1 million, net profit of NT$560.4 million and net EPS of NT$9.19 for the third quarter of 2016.
The China market accounted for 55% of the third-quarter consolidated revenues, the Taiwan market 35% and other markets 10%, company chairman Jimmy Chen said. While the third-quarter consolidated revenues dropped 28.75% sequentially due to decreased demand, consolidated revenues for the fourth quarter will grow 30-40% sequentially and the revenue proportion for the China market is expected to rise to 60% and that for the Taiwan market will slip to 30%, Chen noted.
Giga Solar posted consolidated revenues of NT$11.997 billion, gross margin of 21.74%, net operating profit of NT$2.031 billion, net profit of NT$1.597 billion and net EPS of NT$26.18 for January-September.
Giga Solar is setting up a factory in eastern China to produce PV silver paste for the China market, with production to begin in the first quarter of 2017, Chen indicated. Giga Solar is setting up another plant in the vicinity to produce diamond saw wire for slicing ingots into wafers, with initial monthly capacity of 6,000km of saw wire to come into operation in early December 2016, Chen noted.
Giga Solar recorded consolidated revenues of NT$866.9 million for October, rising 4.83% on month but dropping 46.07% on year, and those of NT$12.876 billion for January-October grew 3.16% on year.
Giga Solar Materials chairman Jimmy Chen
Photo: Fu Shih-min, Digitimes, November 2016
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