Sales revenue in July 2008
Release Date: 2008/08/04
Gintech Energy Corporation (TAIEX: 3514) has announced its operating results for July 2008. Gintech posted monthly sales revenue of NT$1,601 million in July, representing an impressive 10.4% growth rate compared to the NT$1,450 million in sales that Gintech achieved in June. Since ramping up to volume production in August 2006, Gintech has maintained positive revenue growth for 24 consecutive months. July’s total represented a year-on-year growth rate of 228% compared to Gintech’s sales of NT$488 million in July 2007.
Gintech’s remarkable sales growth in July 2008 was supported by the ramping up to full capacity of Gintech’s new production facility in the Hsinchu Science-based Industrial Park (the plant currently has annual production capacity of 200 MWp, but Gintech has plans for further expansion of the facility). Gintech has signed materials purchasing agreements with suppliers in South Korea, Germany and China; shipments of wafers from these companies to Gintech have already commenced. With reliable sources of raw materials, and with production proceeding smoothly, Gintech has been able to achieve steady, continuous improvement in its monthly sales performance. Institutional investors anticipate that, given Gintech’s plans to rapidly expand production capacity to 660 MWp by the end of this year, the company will soon emerge as one of the world’s top five solar cell manufacturers.
The Taiwanese government has announced plans to promote the growth of the photovoltaics industry as Taiwan’s next “trillion NT-dollar industry”. With its reliable sources of raw materials and its aggressive growth strategy, Gintech will undoubtedly be playing an important role in the development of Taiwan’s photovoltaics industry over the next few years.