Nation's PV firms report stellar H1 performance

Rising market demand, lower costs boost solar companies' earnings amid warnings

Leading photovoltaic companies in China reported sound performances during the first half, with revenue of all 61 A-share PV companies exceeding 580.3 billion yuan ($79.7 billion) and net profit reaching 69.66 billion yuan, thanks to rising market demand and ever-falling costs.

Tongwei Group, the world's largest producer of solar silicon, said its net profit rose 8.56 percent in the first half from a year earlier to 13.3 billion yuan despite tumbling polysilicon prices. Revenue jumped 22.75 percent to 74.1 billion yuan, with 80 percent coming from its photovoltaic business, it said.

The Chengdu, Sichuan province-based firm also revealed plans to build two new plants to make high-efficiency solar batteries in Leshan for 20 billion yuan.