Shunfeng Meets a 275.6% Revenue Increase after Acquiring Wuxi Suntech in 2014

published: 2015-03-31 18:09 | editor: | category: News

Shunfeng Photovoltaic Technology Co. (SF-PV) has announced its financial results for the massively changed year 2014. In the year, the total revenue hit RMB 5.75 billion (approximately US$925 million), representing a 275.6% growth compared to 2013’s US$246 million revenue.

In SF-PV’s financial results for 2014, the company turned from 2013’s loss into 2014’s profit. The company was hit by a US$292.6 million net loss in 2013, but it met a US$209.9 million net revenue in 2014. The results also showed that the gross margin increased from 9.9% in 2013 up to 22.1% in 2014. Sales of PV cells and modules, additionally, cumulatively reached 1525.5MW, representing an annual growth of 217.5% compared to the 480.5MW sale in 2013.

Separately, SF-PV sold 143.7MW of mono-si PV cells, creating US$56.44 million revenue in 2014. Poly-si PV cells, 669.8MW and a US$219.5 million revenue. PV modules, 645.1MW and a US$ 391.5 million revenue. Besides, SF-PV shipped around 73.9% of its products to China, comparing to 84.4% in 2013. The international sale revenue accounted 26.1% of the total revenue in 2014, comparing to 2013’s share, 15.2%.

Wuxi Suntech was one of the world’s largest solar PV manufacturers that once had an annual PV module production capacity of 1.8~2GW. In contrast, Shunfeng Photovoltaic International had shipped only 208 MW of PV modules in 2012. However, Wuxi Suntech entered into bankruptcy protection in 2013 and was completely acquired by Shunfeng International Clean Energy in 2014. 

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