Nanjing-based CSun’s panel shipments soared 109.2% on the year in the fourth quarter to 235.8MW.
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By Brian Publicover in Tokyo
Monday, April 07 2014
Updated: Monday, April 07 2014
Asia became the PV cell and panel maker's biggest market in 2013, with China accounting for 56.3% of total revenues in the fourth quarter and Japan for 7.1%. For 2013 as a whole, Europe, led by the German and French markets, accounted for 47.2% of CSun’s total revenues, down nearly 24% on its 2012 share. The Nanjing-based company’s panel shipments rose 109.2% in the fourth quarter to 235.8MW, when compared to the preceding three months, pushing up revenue 119.8% to $125.5m.
CSun's Q4 net loss was $13.2m – unchanged from the prior quarter.
It posted a $50.6m net loss in the 12 months to 31 December, despite an 8% jump in revenue from a year earlier to $316.2m. That was down from a $133.6m deficit for 2012.The Nasdaq-listed manufacturer produced roughly 20.9MW of panels as an OEM supplier in the last three months of the year. "Our shift to more OEM arrangements drove better-than-expected total shipments,” said CSun chief executive Stephen Cai in an online statement. The company expects to ship 130MW-140MW of modules in the first quarter of 2014 and 750MW-800MW for the full year.
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