China-based solar material provider GCL-Poly has announced revenues for the year ended December 31, 2012, were HKD22.348 billion (US$2.88 billion), showing an on-year decrease of 12.4% compared to HKD25.505 billion in 2011. The firm noted that the revenue decrease was due to falling average selling prices (ASPs) of polysilicon and solar wafers.
GCL-Poly added that the firm sold a total of 12,593 metric tons (MT) of polysilicon and 5,594MT of solar wafers in 2012, representing an on-year increase of 350% and 25.7% respectively. The ASP of polysilicon was around US$20.8/kg compared to US$47.7/kg in 2011, according to the firm. The ASP of solar wafers also showed a significant decrease from US$0.54/watt in 2011 to US$0.25/watt in 2012, said GCL-Poly.
The firm reported 2012 gross profit margin of 7.8% compared to 33.2% in 2011. In particular, the firm added, the gross profit margin for solar material decreased to 4.4% in 2012 from 38.6% in 2011.
Net loss in 2012 were HKD3.515 billion compared to net profit of HKD4.274 billion in 2011.
GCL-Poly expects 2013 global solar demand to be around 35GW with Europe demand slowing down. The firm believes emerging solar markets such as China, the US, Japan, India, South Korea, Australia and Brazil will continue to show strong growth in 2013.
