KLNE Excellent 3rd Quarter Result

KLNE announces excellent target beating results for 3rd quarter global sales
By: KLNE
 
 
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Tags:
* pv
* Solar Power
* Inverters
* Grid-tied
* Photovoltaic

Industrys:
* Energy
* Electronics

Location:
* Beijing - Beijing - China

Nov. 13, 2012 - PRLog -- KLNE (Kinglong New Energy Technology) a Beijing based manufacturer of grid tied inverters announced a target-beating 3rd quarter performance yesterday.

During the 3rd quarter, the company’s global sales totaled 19MW. The company said that while sales into the export markets were rising, the rise was not uniform, noting that Germany and Italy were remaining static. However, business in South Africa and South American countries figured strongly in the result with partnerships being established in both those regions.

However the biggest increase was in the penetration into the domestic market where the Solartec Central utility scale range of 250kW and 500kW were utilized. The Chinese government has announced a large programme of PV projects and KLNE has secured and signed two contracts that form part of this programme.

“The export market is tough with prices falling on an almost weekly basis,” said Paul Nicholson, KLNE’s marketing director. “As always, we are competitive but the bigger European and U.S. manufacturers with higher cost bases are really hurting. We are fortunate that one of the world’s biggest markets for PV happens to be our domestic market. We expected to be on target for the quarter but with the current market situation we didn't expected to exceed it.”

Recently Germany’s SMA reduced their workforce by 1000 people and the USA’s Satcon filed for Chapter 11 bankruptcy. “These companies are well managed so you know that when they start staff reductions or file for bankruptcy that the industry is in turmoil.”said Wison Qi, KLNE’s sales director.

With recent research showing that 2013 is expected to be the toughest year ever for companies in the PV industry, Qi commented, “The first half of next year is going to be very tough for everyone, big and small. However, we have already developed new products that are coming out in Q4 that will contribute substantially to our revenues in Q1 and Q2 of 2013 and onwards. We spoke with clients and asked them what they wanted and we have given it to them. We have other domestic contracts under tender so we are not wholly dependent on exports to make our targets.”
End
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