About Photovoltaic glass sales gross profit margin
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6 FAQs about [Photovoltaic glass sales gross profit margin]
Why did the solar industry lose a profit margin?
The decrease in gross profit margin was mainly due to the lower average selling price (“ ASP ”) and higher procurement costs of the solar glass segment, and a revenue reduction in the solar farm business resulting from the deduction of tariff adjustment (subsidy) receivables.
Why did solar glass sales increase in 2023?
The increase in production capacity, coupled with the accelerated growth of downstream PV demand and increased sales of thin glass products, contributed to the rapid increase in the Group's total solar glass sales volume (in terms of tonnage) in 2023, which rose 49.3% YoY.
How did solar glass group perform in 2023?
Dual growth in both gross profit and net profit was also achieved, as the Group experienced a significant improvement in the gross profit margin of the solar glass segment in the second half amid better supply and demand dynamics. In 2023, the Group's consolidated revenue increased 29.6% year-on-year (" YoY ") to HK$26,628.8 million.
How did solar glass group achieve a significant rise in solar glass sales?
Against the backdrop of strong growth in global PV installations and thus surge in solar glass demand, the Group achieved remarkable rise in solar glass sales volume and revenue during the Year by leveraging its expanded capacity and flexible marketing strategies.
Why did solar glass sales increase HK$17 million?
The Group's revenue from sales of solar glass surged by 35.6% Y o Y to HK$17,655.1 million, mainly attributable to the increase in sales volume and sales mix optimisation, despite the drop in ASP as a result of intense industry competition.
How will the growth in demand for solar glass drive growth?
As the increase in downstream PV installations will continue to drive growth in demand for solar glass, the Group will actively expand its solar glass production capacity in an orderly manner so as to sustain further growth and enlarge its market share.