Solargiga Energy Holdings Limited (00757) said it is expected that the group will record an increased loss for the interim period ended 30 June 2019 as compared to the corresponding period of last year.
It was mainly because (1) China's 2019 photovoltaic power subsidy policy was introduced later than expected, which caused the domestic market demand to be deferred to the second half of this year and (2) the production capacity of the group's new low-cost high-efficiency monocrystalline silicon ingots and wafers was still in adjustment phase during the period. As the production capacity has not been fully utilised, the advantages of its economy of scale have not yet been displayed.
16/08/2019 17:13
Solargiga (00757) expects increase in interim loss
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