Shunfeng International Clean Energy is back in the black, according to recent reports — having revealed to its shareholders that it was expecting to see a profit for 2014, once all the numbers are finalized.
The company apparently increased its solar cell shipment volumes to 863.4 megawatts (MW), up 79.7% year-on-year from 2013 (when 480.5 MW of solar cells were shipped). Much of the increase in shipment volumes can be attributed to Shunfeng’s acquisition of Wuxi Suntech Power — which contributed shipments of 663.7 MW in 2014.
Considering that Suntech barely shipped any solar cells at all in 2013 (22 MW worth), that represents a huge increase (2,916.8%) — but not a surprising one. We are talking about Suntech after all — regardless of market hype or opinion, the company possesses some serious production capacity.
The only real issues going on with the company over the last few years have been managerial/political/legal ones — not issues with the production infrastructure — and those have been cleared away.
Anyways, when taken altogether, 2014 was clearly a good year for Shunfeng and Wuxi Suntech, and will likely just serve as the first in a series of good years. The outlook for the two over the next few years looks likely to be quite good. Not bad investment bets to my eyes.
Shunfeng also saw big numbers in its power generation business, with aggregrate solar-powered volumes hitting 606,690 MWh.
Despite the overall good numbers, the guidance figures for the year had been higher — with 1.3–1.5 GW expected.
Worth noting, of course, is that none of these numbers are final — the full, audited annual review won’t be made available until the end of March.
Image Credit: Suntech
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