Hanergy Thin Film Power Group increases 2014 revenues by 193 percent, doubles gross profit

Hanergy’s Hainan 50 MWp PV Power station at the PV Industrial Park at Qiaboqia Town, Gonghe County
Hanergy’s Hainan 50 MWp PV Power station at the PV Industrial Park at Qiaboqia Town, Gonghe County

Hanergy Thin Film Power Group Ltd., a producer of turnkey production lines for thin-film solar photovoltaic (PV) modules, and also engaged in downstream solar power generation and application business worldwide, on March 30th, 2015 announced consolidated results of the Company and its subsidiaries for the year ended December 31st, 2014.

The group’s total 2014 revenues increased by 193 percent to HK$ 9,615,028 (approx. USD 1,239,880), compared to HK$ 3,283,791 in 2013 (approx. USD 423,453). Gross profit reached to HK$ 5,504,648 (approx. USD 709,838) compared to HK$ 2,636,012 in 2013 (approx. USD 339,920), up 109 percent.

2014 revenues from the sale of PV plants added up to HK$ 3,378,250 (approx. USD 435,634) respectively around one third of total revenues.

Looking ahead, the company will continue to identify advanced thin film solar PV generation technologies and seek to add thin film power generation experts across the world, Hanergy announced.

With the widely recognized thin film power generation technology and the continuous development of all business units of the Company such as downstream products, power, energy saving and emission control, the Group will further diversify its sources of income in the future.

For high-end equipment manufacturing, the Group will continue to deliver the turnkey production line to its customers using the thin film generation technologies that are acquired.

Regarding distributed PV generation the Group will accelerate penetrating the Chinese market to provide customized thin film generation building-integrated system solutions, which will become an additional major driver for the Group’s revenue.

In respect of PV power plants the Group has commenced the pre-construction of a 400MW solar power plant in Ghana, Africa, and 50MW in Hainan successively. In the next few years, a number of power plant projects will be completed and connected to the grid, upon which the Group will have diversified and acquired stable sources of income either as a PV power plant operator, or realize its gains via disposals thereof.


2015-03-31 | Courtesy: Hanergy Thin Film Power Group | © Heindl Server GmbH

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