The Xinyu City-based company, which makes multi-crystalline solar wafers, lowered its profit expectations for the quarter from its originally stated $565m to $435m -- a drop of 23%.
Expected gross profit margin for the quarter was downwardly revised from 21% to 13%, while total expected output was pared back nearly 6% to 255MW.
“Late in the fourth quarter we experienced a slowdown in our business related to the current global financial crisis,” said chief executive Xiaofeng Peng, with many customers requesting to delay shipments until mid-2009.
The
