Gintech Energy Reports Revenue Reduction in September

published: 2015-10-13 10:58 | editor: | category: News

Gintech Energy has unveiled its unaudited monthly revenue for September 2015. Although the monthly revenue decreased sequentially, the company looks forward to its international partnership with Tongwei Corp and their global deployments, including a new manufacturing plant in Thailand and a new ship channel in China.

During September, the net sales were NT$1,387 million, decreasing3.4% from NT$1,435 million in August 2015, whileincreasing31.6% from NT$1,054 million in September 2014. On a quarterly basis, net sales in Q3/2015 were NT$4,301 million, representing an increase of 8.8% QoQ compared toNT$3,952 million in 2Q15and an increase of 48.1% YoY comparing toNT$2,905 million in 3Q14.

Lower shipmentwas blamed for the sequential revenue decrease in September. Nonetheless, Gintech stated in the announcement the company has begun relocating its capacity to Thailand facility forhigher profitability. In contrast, average selling prices continued the upward trend driven by strong demand, especially from China. Gintech thereforegenerated a strong 48% YoYgrowth in topline and delivered much better profitability in 3Q15than originally targeted.

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