Falling Panel Prices Hit JinkoSolar and GCL-Poly Earnings
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Chinese solar companies JinkoSolar Holding Co. and GCL-Poly Energy Holdings Ltd. reported losses that were larger than analysts estimated as product prices declined.
JinkoSolar, a panel maker, reported second-quarter net loss of 310.5 million yuan ($48.9 million), compared with net income of 235.2 million yuan a year earlier, according to a statement today. GCL-Poly, which makes wafers, reported a loss of HK$330 million ($43 million) for the six months ended June 30, compared with a HK$3.55 billion profit a year earlier, GCL-Poly said today in a Hong Kong stock exchange filing.