South Glass half year net profit increases 143% to invest 2.15 billion to build 5 projects

CSG A (000012) the first half of the sales revenue and profit level again innovative high, to achieve business income of 3.405 billion yuan, an increase of 64.85% per cent, net profit of 636 million yuan, a significant increase of 143%. Among them, the float glass gross profit margin greatly enhances, the solar energy industry capacity utilization rate increases obviously becomes two bright spots.　　In the announcement of the semi-annual report, the company plans to spend 2.15 billion yuan to build 5 major projects. Semi-annual report, although raw material prices in the first half of the year have a relatively large rise, but the flat glass industry overall continued to 2009 in the second half since the good market situation. June, the company's flat glass to achieve income of 1.589 billion yuan, the overall gross profit margin maintained at a high level of 38%.　　In addition, with the TCO Conductive Glass project in 2010 1 quarters of the formal volume production, the company took the lead in the domestic only with thin film photovoltaic cells with TCO conductive glass production capacity of the enterprise. In addition, the first half of the company in the solar energy industry continued to make breakthroughs. As a result of technology and technology two times innovation, the company's polysilicon projects in the industry still depressed situation still achieved a good profit, the first half of the income reached 869 million yuan, an increase of 300%, the benefit began to appear.　　Polysilicon Technology Expansion Project will be completed in early 2011, the company's production costs of related products will be further reduced; the 160MW wafer cutting project has been put into production in the first half of the year and is expected to become a new profit point.　　CSG in the release of outstanding semi-annual report also announced, in order to further expand and improve its business sector capacity and product structure, to invest 2.15 billion yuan to build 5 major projects. In order to make the South Glass solar vertical industry chain profit advantage to give full play to the South Glass to the Dongguan photovoltaic solar cells to expand production. The company plans to build a new battery line and component line in the Dongguan CSG PV Building Workshop, so that its capacity is increased by 200MW and the construction cycle is about 1 years. The project plan invests 697 million yuan (fixed assets investment 497 million yuan).　　After the completion of the project, the company's solar photovoltaic cell production scale will reach an annual output of 300MW. The company is also preparing a new 500t/d solar Ultra White glass production line in Guangdong. The project is planned to invest 499 million yuan and is expected to be completed by the end of 2011.　　By then, the production line will produce 126,000 tons of solar ultra white rolling glass every year.　　Third, in Yichang CSG factory, the company intends to invest in the construction of two 140MW wafer expansion project, the project is to invest 497 million yuan.　　And in order to further improve the CSG group flat glass product structure, the company intends to build a thin float glass production line in the south of Hebei Glass, the production line mainly produces 0.33-0.7mm glass. In addition, the company intends to relocate Dongguan ceramic technology to Hubei Yichang, while the existing part of the production capacity expansion. The company plans to invest 113 million yuan to complete the expansion of ceramic technology and relocation, of which the existing available assets in Dongguan is 36 million yuan.