ReneSola margins lag Chinese peers

ReneSola is transforming itself into a module force

ReneSola is transforming itself into a module force

ReneSola ballooned its revenues during the second quarter, but its operating margin – deeper into the red than many of its competitors – remains a struggle as it touts its brand around the globe.

ReneSola reported a negative operating margin of 4.4% during the second quarter, a significant improvement from negative 11.8% the prior quarter. Among major Chinese PV manufacturers, however, only Trina Solar had a worse operating margin during the quarter (at negative 5.4%) to date. 

Yingli, which also reported earnings today, chalked up a negative operating margin of 3.8%, while both Canadian Solar and JinkoSolar were in the black, suggesting a tighter handle on expenses. 

ReneSola’s 7.3% gross margin was also at the low end of major Chinese companies during the second quarter.

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