Net sales in June 2014 were NT$917 million, a decrease of 46.2% month-over-month from NT$1,705 million in May 2014, and a decrease of 33.5% year-over-year from NT$1,379 million in June 2013. On a quarterly basis, net sales in Q2/2014 were NT$4,371 million, an increase of 2.0% quarter-over-quarter from NT$4,287 million in Q1/2014, and an increase of 13.7% year-over-year from NT$3,845 million in Q2/2014.
Our monthly revenue was negatively impacted by the stalled buying sentiment ahead of anti-dumping ruling against China/TW solar supply chain. Therefore, to prevent account receivable risk, we strategically chose to push back some orders without payment in advance to mitigate through the short-term uncertainties.
While pricing pressure is inevitable to maintain our competitive industry position, we believe the volume shortfall is temporary. Meanwhile, despite the supply chain adjustment, we expect worldwide demand to be stronger in 2H/2014 than 1H/2014 driven by China pick up and traditional seasonality across the world.
Evelyn Hung
Corporate Planning
GINTECH ENERGY CORPORATION
Tel: +886-2-2656-2000 ext.8163
Fax: +886-2-2656-0583
E-mail:
www.gintechenergy.com
