Big new energy performance in 2018:2 polysilicon production. 340000 tons of net profit of $71. 6 million

Solar photovoltaic (pv) net news: on March 13, big new energy announced unaudited financial performance in the fourth quarter of 2018 and fiscal year.

results show that the new energy 2018 annual polysilicon production was 23351 tons, foreign sales of 22521 tons, and in 2017 to 17950 tons, year-on-year growth of 20. 3%.

from a revenue point of view, to 3, 2018 years of continuous operation income. $01. 6 billion, and 2017 to 3. 23. 2 billion dollars, reduce 6. 68%.

in terms of net profit, big new energy shareholders adjusted net income (2018 The generally accepted accounting principles) For $99. 5 million to $71. 6 million, 2017, 28 fell. 04%.

big Mr Zhang Longgen, chief executive of new energy, in the fourth quarter of 2018, of polysilicon production and sales hit a new record, 7301 tons and 7030 tons respectively. “ With the success of a new issue of 3 b factory production, and our operations team efforts, we achieved the yield and cost reduction targets, and achieved good results. In the fourth quarter of 2018, of manufacturing costs for success will be reduced to 7 per kg. 94 dollars, cash cost down to 6 per kilogram. 64 dollars, to achieve the lowest cost structure. ”

at present, collection of the xinjiang production facilities are already running at full capacity, in the first quarter of 2019 hope production is about 8500 to 8700 tons of polysilicon. In addition, as the unit of utility efficiency, operating leverage and reduce other cost savings, is expected to total production cost will be reduced to about 7 per kg. Fifty dollars.

in addition, daqo plans to carry out the capacity bottleneck project, escalating a few old CVD furnace, with the improved technology, increase production capacity to 5000 tons. Plan to start the project in the middle of march, completed before the end of June. To the bottleneck project's influence on production is limited, therefore, in the second quarter of 2019 is expected to produce 7600 to 7800 tons of polysilicon. After finishing to bottleneck project, the company is expected to reach annual output of 35000 tons.

Zhang Longgen said, & other; 4 a phase expansion project progress smoothly, to the end of the first quarter of 2020, our production capacity will reach 70000 tons, once the overall acceleration, will further reduce the cost structure. In February 2019, we get the bank of China approved the five-year fixed assets of 400 million yuan of loans and working capital loan of $50 million. The company has accumulated to obtain RMB 8. Additional bank loans 300 million yuan, including China bank loans and other Chinese domestic bank credit financing, in order to support our expansion and working capital requirements. A period of 4 of these loans will support our capital expenditure of the project, enabling us to meet the deadline. ”

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