Solar cell and module manufacturer China Sunergy made a loss of $10.5m in the second quarter of 2015, almost double the loss in the same period last year.
Revenues were down slightly at $87.5m on the second quarter in 2014, and lower than the $91.5m in the first quarter of 2015.
The decrease was down to lower shipments of modules and cells – 184.5MW compared with 191.6MW in the first quarter.
The average selling price also decreased at the same time as unit costs increased for modules ship from the company’s plants in China.
The company also faced increased operating expenses and administrative expenses during the quarter, in particular, down to shipping costs at its plant in Turkey.
Sales revenue from Asian market accounted for 39.3% of total revenue in the second quarter of 2015 as a result of lower shipments to China, Japan and India markets, while revenue generated from American market dramatically increased and accounted for 34.4% of total revenue.
In addition, sales to European market represented 25.2% of total revenue in the quarter ended 30 June 2015.
Image: sxc
