Green Energy Technology Inc (綠能科技), the nation’s second-biggest solar wafer maker by revenue, yesterday posted record revenue for last month as increasing solar installations in Europe and Asia boosted prices and shipments.
Revenue rose 1 percent to NT$1.53 billion (US$48 million) from NT$1.52 billion in July, or almost a 68 percent increase from NT$914 million a year ago, the company said.
“Customer demand is growing not only in Europe, but in Asia as well. We have slightly increased prices and capacity to cope with the market situation,” company spokesperson Christine Chen (陳婷婷) said by telephone.
Shipments increased further last month after growing almost two-fold in July from the previous year on full equipment utilization.
The company’s results came after its larger rival, Gintek Energy Corp (昱晶能源), reported on Monday that its revenue last month grew 6.58 percent month-on-month and double the same period last year to NT$2.59 billion.
To cope with increasing demand, Green Energy plans to allocate a bigger share, or 40 percent, of its total shipments to its contract business, up from the 30 percent it estimated earlier this year. In the first half of this year, the contract business, which has a higher gross margin, accounted for about 11 percent of overall shipments.
“Green Energy is modifying its product mix and customer structure,” the Taoyuan-based company said in an e-mailed statement.
Green Energy aims to increase its capacity to 1 gigawatt next quarter, from 360 megawatts at the end of last year. The company raised US$90 million by issuing global depository receipts last week and another NT$2.66 billion in syndicated bank loans to fund the capacity expansion.
The company said that net profit in July grew about 4.5 times to NT$162 million, or NT$0.92 per share, from a year earlier.
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