A Net Profit of 32-38 Million Yuan! Arctech Solar Released Its Performance Estimation

PVTIME – Arctech Solar Holding Co.,Ltd. (hereinafter referred to as Arctech or the Company) (SSE-STAR 688408), a world-leading solar tracking, racking and BIPV system provider, released its performance estimation. The company expects to achieve a net profit of 32-38 million yuan attributable to the parent in 2021, and a net profit of -16 million to -19 million yuan after deducting non-returning to the parent.

Regarding to the reasons for the change in performance, the company stated:

First, due to the increase in the price of polysilicon, modules and international freight, the installation of centralized photovoltaic power plants around the world has been delayed, resulting in a decline in the company’s income.

Second, factors affecting the company’s main costs, including steel, chips, and international shipping costs, have risen sharply, resulting in a significant drop in the company’s gross profit margin and a significant drop in net profit during the reporting period.

In addition, the company’s non-recurring profits and losses have an impact on net profit of about 50 million yuan, which are mainly financial income, government subsidies, etc.