Taiwan-based solar conductive paste maker Giga Solar has reported front silver conductive paste shipments in the first quarter reached 2.4 tons. Including shipments of back silver conductive paste, silver conductive paste sales have accounted for 65% of total sales. In the second quarter, Taiwan-based solar cell makers have been seeing rising capacity utilization rates meaning upstream firms like Giga Solar can expect steady orders and growth in profits.
According to Chi-jen Chen, chairman of Giga Solar, solar demand will continue to grow in the second half of 2013.
Giga Solar has reported first-quarter consolidated revenues of NT$1.051 billion (US$35 million), showing an on-year increase of 13%. The firm saw net profits reach NT$183 million, down 3% on year. The firm also reported first-quarter gross margin of 21.89%, down from 32.04% in the first quarter of 2012.
Wen-Jui Huang, general manager of Giga Solar, stated that falling gross margin was due to changes in product mix. In 2012, the firm focused on back aluminum paste. However, sales of silver paste (front and back) have accounted for 65% of total sales, and due to relatively lower profit margins, consolidated gross margin fell compared to first-quarter 2012, said Huang.
Huang disclosed that currently there are 14 front silver conductive paste customers and Giga Solar expects the percentage of silver paste sales among total sales to continue to increase.
Chen added that shipments of front silver conductive paste reached over two tons in April.
Wen-Jui Huang, general manager of Giga Solar (left), Chi-jen Chen, chairman of Giga Solar (right)
