A Shunfeng solar farm in China Photo: Shunfeng

Shunfeng's H1 profit falls 65% on rapid expansion

Shunfeng International Clean Energy’s (SFCE) net profit fell to 172.5m yuan ($27.1m) in the first half, from 503.9m yuan a year earlier, as aggressive expansion into foreign markets drove up the ambitious Chinese group’s operating expenses.

31 August 2015 3:54 GMT Updated 28 September 2016 9:28 GMT

By Brian Publicover in Tokyo

It shipped 548.7MW of PV modules in the January-June period, up 47.2% from the first six months of 2014.

Sales of PV cells fell 0.2% on the year to 398.7MW, while shipments of wafers rose 9.2% to 246MW.

It connected 88MW of fresh PV capacity to the grid in China in the first half, bringing its total cumulative capacity in the country to 1.62GW

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Shunfeng's H1 profit falls 65% on rapid expansion