Hanwha SolarOne eyes Q-Cells benefits as tough times go on

Korean-owned PV manufacturer Hanwha SolarOne cut its full-year shipment forecast as it unveiled widening third-quarter losses, but says it hopes to see some benefits from the absorption of Germany’s Q-Cells into its wider corporate family.

SolarOne, which is based in Shanghai, China, but part of the Seoul-based Hanwha Corporation, now expects 2012 module shipments of between 825MW and 850MW, down from its previously forecast 900MW to 1GW.

Third-quarter shipments, including module processing services, were 239.5MW, up 4% on the second quarter but 19% down year-on-year.

The US-listed company posted a third-quarter net loss of 322.1m yuan ($51.3m) against 177.6m yuan at the same stage in 2011 and 266.7m in the second quarter of 2012.

SolarOne’s gross margin was negative 5.8%, compared with a positive 6.3% in the Log in to read complete article.

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