Solarfun Power Holdings Co. Ltd. (SOLF) reported that its third-quarter net income attributable to shareholders was RMB 136.6 million or US$20.0 million, compared to a net loss of RMB 44.3 million in the third quarter of 2008.
Net income per ADS was RMB 2.53 or US$0.37 in the third quarter of 2009, compared to a net loss per ADS of RMB 0.86 in the third quarter of 2008.
Total net revenues were RMB 986.8 million or US$144.6 million, representing a decrease of 22.6% from RMB 1.27 billion in the third quarter of 2008.
For the fourth quarter of 2009, Shipments is expected to be approximately 110 MW, with module processing services accounting for about 20% of the total shipments. Average selling prices are expected to decline by approximately 5% from the previous quarter, in constant currency.
For the first quarter of 2010, the Company expects to see continuing good demand, with prices declining slightly from levels in the fourth quarter of 2009.
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