12 March 2013 03:38 [Source: ICIS news]
SINGAPORE (ICIS)--China’s photovoltaic (PV) producer Hareon Solar Technology said on Tuesday that its net profit decreased by 99.5% to (CNY) 2.1m ($0.3m) in 2012 from CNY402m in the previous year, because of the weak PV market.
Many Chinese PV companies suffered losses, as they were severely hit by the antidumping and countervailing measures as well as investigations by the US and the EU, Hareon Solar said in a filing to the Shanghai Stock Exchange (SSE). Prices declined as demand for China-origin PV product weakened.
Net profit fell sharply as a result of the plummeting PV prices, the company added.
Operating revenue for last year declined by 30.4% to nearly CNY5.0bn from CNY7.1bn in 2011, Hareon Solar said.
The company is headquartered at Jiangyin city in Jiangsu province.
($1= CNY 6.22)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections