28 Sep '15, 2pm

China Sunergy posts further losses on Q1 shipment and revenue declines

China Sunergy (CSUN) has reported a first quarter 2015 net loss of US$12.2 million as revenue fell 27.8% and shipments declined 37.2% from the prior quarter. Image: China Sunergy Financials CSUN NASDAQ 1.33 +0.05 (3.91%) 10:36AM EDT Struggling PV module manufacturer China Sunergy (CSUN) has reported a first quarter 2015 net loss of US$12.2 million as revenue fell 27.8% and shipments declined 37.2% from the prior quarter. Despite a positive operating income of US$5.5 million in the first quarter, compared with loss from operations of US$2.8 million in the fourth quarter of 2014, CSUN was also impacted by the depreciation of RMB against US dollar, Euro against US dollar and Turkish Lila against US dollar to the tune of a US$14.3 million expense. The foreign exchange loss related to its Turkey-based cell/module plant was approximately US$4.3 million and around US$10.5 million...

Full article: http://www.pv-tech.org/news/china_sunergy_posts_further_l...

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