Chinese solar company ReneSola has published preliminary third quarter results for 2019 with revenue of between $55m and $60m.
The figures, which have not been audited, are better than the company’s previous Q3 revenue guidance of $15m to $20m.
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However, ReneSola expects its gross margin to be lower than previously predicted: between 15% to 17% – down from earlier guidance of 35% to 40%.
ReneSola chief executive Shelley Xu said the figures reflect the sale of several solar projects last month.
“Sale activity is increasing across many of our geographies, helping to accelerate our business momentum,” she said.
“We are confident in our ability to successfully monetise our robust project pipeline in the coming quarters.”