Thursday, August 30, 2007

China's Suntech eyes plants in U.S. and Europe

Wed Aug 29, 2007 9:44AM EDT

By Leonard Anderson

SAN FRANCISCO (Reuters) - Suntech Power Holdings Co Ltd (STP.N: Quote, Profile, Research) expects to build manufacturing plants in the United States and Europe to serve growing demand for solar energy panels, a top official at the China-based company said.

"We are exploring the opportunity to have strategic manufacturing outside of China," Steven Chan, chief strategy officer for Suntech, said in a telephone interview late on Wednesday.

"Europe and the U.S. essentially are two key markets. We are looking at places, but we probably shouldn't break it out at this point," Chan said, adding that Suntech expects to identify manufacturing locations within two years. Its European market includes Germany, Spain, France and Italy.

Suntech will grow from about 480 megawatts of production capacity at the end of this year to more than 1,000 megawatts by the end of 2010, he said.

The company estimates it will be the world's second or third largest producer of solar power cells by the end of 2007.

Chan reaffirmed Suntech's third-quarter production target of 94 megawatts to 96 megawatts and about 325 megawatts of total production for the year.

Suntech has contracted this year's production and also signed contracts to deliver more than 150 megawatts for 2008 "so it's a very, very bullish environment for sales," Chan said. "Demand is higher than the supply of photovoltaic modules through 2009."

The company has not set production guidance for 2008, but Chan said it can add about 150 megawatts a year on a conservative basis.

Tight supplies of polysilicon, a key component of solar systems, have stalled panel production for some small companies, but analysts say more silicon refining will begin to come on line in 2008.

Chan sees improving silicon supplies for the solar industry in 2009.

More silicon and a potential reduction in product costs will help China adopt solar power within two-to-four years to feed the nation's ravenous appetite for new power generation, he said.

"I hear they are adding a new coal or gas-fired plant each week, that's 500 megawatts of additional generating capacity a week and a lot of air pollution."

Suntech Chairman and Chief Executive Zhengrong Shi has adopted former U.S. Vice President Al Gore's climate crusade and is encouraging Chinese political leaders and others to attack global warming and climate change, Chan said.

"He is saying you guys need to start acting soon."

Movable solar traffic light in Ice city

The first movable solar traffic light debuts in Harbin, capital of northeast China's Heilongjiang province on Tuesday, August 28, 2007.

The Northeast Network reports that the movable solar signal light works by energy from sunlight, which saves power and thus protect the environment. Without using any cables, the new movable traffic light is particularly suitable for newly-built crossings and crossings with a large volume of vehicles.

LDK Solar Signs Pact To Supply Multicrystalline Solar Wafers To NSP

Wednesday, August 29, 2007; Posted: 03:41 AM

(RTTNews) - LDK Solar Co., Ltd. on Wednesday reported that it has signed a contract to supply multicrystalline solar wafers to Taiwan-based Neo Solar Power Corp.

As per terms of the deal, LDK Solar would deliver multicrystalline solar wafers to Neo Solar Power, or NSP, at a price of about US$495 million through the end of 2009.

NSP said that this wafer supply deal further strengthens its silicon supply chain for the production of high quality solar cells. Moreover, this relationship gives NSP a great opportunity to strengthen its competitive position in the marketplace.

Wednesday, August 29, 2007

Jinzhou became the Torch Program silicon material and solar cell production base

On August 15th 2007, Jinzhou was approved by China Ministry of Science and Technology to build the national Torch Program silicon material and solar cell production base. And at present Jinzhou has the full production line of silicon material, polysilicon, monosilicon, silicon wafer, solar cell and applications.

Xingtai plans to build the silicon material and PV industry production base

Xingtai secretary of communist party told reporter recently that Xingtai city plans to make itself one silicon material and PV industry production base. Their targeted production capacity by 2010 is 5000 ton monocrystalline silicon, 425MW solar cell and 175 MW solar module. Then Xingtai will become one major silicon material and PV industry production base.

Tuesday, August 28, 2007

Motech claims no effect from Renesola polysilicon wafer output trim

Renesola's trimming of its annual polysilicon wafer output target by 20% has aroused concern for Motech Industries' material sufficiency in the second half of 2007, however, Motech has responded in saying that its contract with Renesola is not affected.

Renesola announced it will trim its silicon wafer output to 120-125 peak megawatt (MWp) in 2007, down from the originally expected 150MWp, citing production suspension due to a wafer size adjustment during the second quarter.

Responding to concerns about Motech's shipments target in 2007, the solar-cell maker stressed that Renesola is still following its agreed terms. The company reiterated confidence over its material supply in the second half of 2007.

Under the three-year contract between Motech and Renesola, the China-based silicon wafer maker committed to supply no less than 80MWp wafers to Motech. Based on Motech's planned shipments target of 170MWp in 2007, Renesola's silicon wafer supply accounts for about 15% of Motech's output.

In related news, Motech announced its financials for the first half of 2007. The company saw its sales rocket by 149% on year to NT$6.98 billion (US$266.6 million) with net profits also growing by 88% on year to NT$1.29 billion. Earnings per share (EPS) were NT$8.57. Gross margins in the second quarter were 21% and Motech believes that profitability is set to pick up in the third quarter.

Goldman Sachs has agreed with Motech's expectations for improved gross margins, citing expected polysilicon deliveries in the second half of 2007. If the solar-cell maker is able to land the expected 35-45MWp of polysilicon supply from its signed contracts, the material supply breakdown between contract and spot market will be 45:55, versus 30:70 in the first half of 2007.

JP Morgan, although also agreeing that Motech is likely to see a mild bounce in gross margins in the third quarter, noted that it is "premature" to call a bottom on margins for solar cell makers, given that polysilicon supply should remain tight in the medium term.

Motech achieved an output of 80MWp in the first half of 2007 on an installed capacity of 240MWp. Respective shipments in the first and second quarter were 37MWp and 43MWp.

Energy: China becomes the world's largest solar power market

(CRIENGLISH.com)
Updated: 2007-08-27 16:49

With the rapid development of the solar power industry, China has become the world largest consumer of solar energy, industry experts say.

Statistics show that China currently tops the world in production and retention of solar energy, it is also the largest producer of solar water heaters and a major consumer. The country is turning into the world largest market for solar energy.

In the coming September, China will see the opening of the 2007 Solar Word Congress in Beijing, which is the first time to be held in the country. So far, experts from over 50 countries have confirmed their attendance.

Friday, August 24, 2007

The 2007 production capacity for some major Chinese solar companies

I collected some Chinese solar product production capacity data in 2007, and share it with you here. It seems that the total Chinese solar cell production capacity in 2007 will be over 2,000 MW.

1. Suntech, Solar Cell: 480MW
2. Solarfun, Solar Cell: 240MW, Solar Panel: 180MW
3. Yingli, Both Solar Cell and Solar Panel: 200MW
4. Trina Solar, Both Solar Cell and Solar Panel: 150MW
5. Canadian Solar, Solar Cell: 100MW, Solar Panel: 180MW
6. Yunnan Tianda, Solar Cell: 100MW
7. Jetion, Both Solar Cell and Solar Panel: 50MW
8. JA Solar, Solar Cell: 175MW

Thursday, August 23, 2007

Trina Solar Announces Second Quarter 2007 Results

CHANGZHOU, China, Aug. 23 /Xinhua-PRNewswire-FirstCall/ -- Trina Solar
Limited (NYSE: TSL) (''Trina Solar'' or the "Company"), an integrated
manufacturer of solar PV products based in Changzhou, China, today
announced its financial results for the second quarter of 2007.
Second Quarter 2007 Highlights
-- Total net revenues increased 77.0% sequentially and 160.4% year-over-
year to $75.3 million
-- Gross profit increased 49.5% sequentially and 78.7% year-over-year to
$14.2 million
-- Net income increased 51.4% sequentially and 540.0% year-over-year to
$7.2 million
-- Solar module shipments increased 93.3% to 20.33 MW from 10.52 MW in the
first quarter of 2007 and 187.6% from 7.07 MW in the second quarter of
2006
''We are extremely pleased with our record results for the second
quarter of 2007. We experienced continued strong growth in both revenues
and profits, while further demonstrating the strengths of our sales and
marketing, organizational capability, and strong brand in strategic
European markets, such as Germany, Spain, and Italy. In addition, we have
achieved key milestones in the execution of our business plan with the
successful commercial launch of our solar cell manufacturing lines, taking
us one step closer to becoming a fully vertically integrated solar PV
manufacturer,'' said Mr. Jifan Gao, Trina Solar's Chairman and CEO.
Second Quarter 2007 Results
Trina Solar's net revenues in the second quarter of 2007 were $75.3
million, an increase of 77.0% sequentially and 160.4% year-over-year. Total
shipments increased to 20.33 MW, up from 10.52 MW in the first quarter of
2007 and 7.07 MW in the second quarter of 2006. Average sales price
(''ASP'') was $3.70 in the second quarter of 2007, compared to $3.80 in the
first quarter of 2007, and $4.03 in the second quarter of 2006. Sales to
customers in Europe accounted for almost all of Trina Solar's revenues in
the second quarter of 2007.
At June 30, 2007, Trina Solar's ingot, wafer, and module annual
manufacturing capacities were 100 MW. In April 2007, Trina Solar commenced
commercial production of its newly installed solar PV cell lines that are
currently delivering an average cell efficiency of 16.3% and have an annual
manufacturing capacity of approximately 50 MW. The Company plans to achieve
an annual manufacturing capacity of 150 MW for its ingot, wafer, cell and
module production by the end of 2007.
Cost of revenues in the second quarter of 2007 was $61.1 million, an
increase of 84.9% sequentially and 191.4% year-over-year due to growth of
Trina Solar's solar module business. Cost of revenues in the second quarter
of 2007 included approximately $15,000 of share-based compensation
expenses.
Gross profit in the second quarter of 2007 was $14.2 million, an
increase of 49.5% sequentially and 78.7% year-over-year. Gross margin was
18.9% in the second quarter of 2007, a decrease from 22.3% in the first
quarter of 2007 and 27.5% in the second quarter of 2006. The sequential and
year-over-year decline in gross margin was due primarily due to a lower
module ASP.
Operating expenses in the second quarter of 2007 were $6.1 million, an
increase of 21.6% sequentially and 21.7% year-over-year. The sequential and
year-over-year increases were primarily due to higher selling expenses and
general and administrative expenses to support the rapid growth of the
Company's business. Operating expenses in the second quarter of 2007
included approximately $296,000 of share-based compensation expenses.
Operating income in the second quarter of 2007 was $8.1 million, an
increase of 81.0% sequentially and 177.2% year-over-year. Operating margin
was 10.7% in the second quarter of 2007, compared to 10.5% in the first
quarter of 2007 and 10.1% in the second quarter of 2006.
Interest expense in the second quarter of 2007 was $1.6 million,
compared to $1.2 million in the first quarter of 2007 and $0.5 million in
the second quarter of 2006. The sequential increase was due to additional
bank borrowings in the second quarter of 2007.
The Company recorded an income tax benefit of $56,000 in the second
quarter. The Company received approval from the tax authority of additional
tax benefit in the second quarter under qualified export enterprise
classification.
Net income from continuing operations reached $7.2 million in the
second quarter of 2007, an increase of 53.2% sequentially and 280.6%
year-over-year.
Net income was $7.2 million in the second quarter of 2007, an increase
of 51.4% sequentially and 540.0% year-over-year.
First Half 2007 Results
Revenues for the six months ended June 30, 2007 increased 171.7% over
the comparable period in 2006, to $117.9 million. Gross profit increased
89.3% over the comparable period in 2006, to $23.7 million, yielding a
gross margin of 20.1%. Operating expenses in the first half of 2007
increased 83.9% over the comparable period in 2006 to $11.2 million as a
result of the Company's rapid growth. Operating income in the first half of
2007 was up 94.4% over the comparable period in 2006 to $ 12.6 million,
reflecting an operating margin of 10.7%.
Net income for the six months ending June 30, 2007 was $12.0 million,
an increase of 201.6% over the comparable period in 2006.
Financial Condition
As of June 30, 2007, the Company had $173.5 million in cash and cash
equivalents and working capital of $224.9 million. Total bank borrowings
stood at $114.8 million, $5.3 million of which were long-term borrowings.
Shareholders' equity was $335.6 million, up from $171.6 million at the end
of the first quarter 2007.
Business Outlook
The Company affirms its previous guidance of total net revenues in the
range of $270 million to $300 million and net income in the range of $34.5
million to $36.5 million for the full year 2007. The Company expects to
ship between 75 MW to 80 MW of modules for the full year 2007.
Trina Solar is on track to meet its year end capacity expansion goals
of 150 MW and 350 MW for 2007 and 2008, respectively. The Company has
successfully upgraded its infrastructure, including installation of
utilities such as electrical power supply and new water cooling facilities.
In line with its technology roadmap, Trina Solar has achieved commercial
production of wafers of 200-micron thickness from 220-micron thickness to
reduce the usage of silicon during the third quarter. Such wafers currently
account for over 70% of its output, with the remaining wafers being
produced at 220-micron thickness. We are currently converting our remaining
equipment to produce all wafers of 200-micron thickness by the end of the
third quarter.
In terms of polysilicon supply, the Company has entered into contracts
covering approximately 90% and 60% of its 2007 and 2008 feedstock
requirements, respectively, and continues to pursue an optimal mix of
short-term and medium- term contracts with polysilicon manufacturers,
semiconductor companies and silicon reclamation companies.
''Our outlook is positive as recent sales contracts have confirmed our
strengths to successfully execute our sales and marketing strategies in key
European markets, particularly in Southern Europe where climatic conditions
and government policies are more favorable towards the solar power
industry. Market demand is still extremely strong, and we are currently
sold out through the rest of the year. With additional cell lines and ingot
and wafer capacities being installed for production in the fourth quarter,
we are on track to realize increased scale efficiencies under a vertically
integrated business model. Our focus remains to achieve cell efficiencies
in excess of 16.5% by the year end, to enhance our product quality and to
improve our cost structure, especially in the area of silicon feedstock
utilization,'' said Mr. Gao. ''Our efforts to expand our geographic
footprint into new markets and diversify our customer base have proven
increasingly successful, as evidenced by an increasing percentage of new
customers from Spain and Italy during the quarter. Going forward, our sales
force will continue to target large and medium-sized companies in these and
other markets."
During the second quarter of 2007, the Company diversified its revenue
base by adding 12 new customers to end the quarter with approximately 30
active customers and a total portfolio of over 50 customers. The geographic
breakdown of our sales for the second quarter was approximately 57%
Germany, 28% Spain, and 11% Italy, thus bringing our first half of 2007
geographic breakdown to approximately 40% Germany, 31% Spain, and 15%
Italy.
Recent Events
On May 21, 2007, Trina Solar announced the appointment of Mr. Qian Zhao
as independent director to the Company's Board of Directors. Mr. Zhao is a
lawyer by training and has practiced law for 17 years specializing in
corporate finance, cross-border investments, securities and M&A.
On May 31, 2007, the Company raised approximately US$155 million in net
proceeds through its follow-on offering of 3,600,016 American Depository
Shares. The net proceeds will be used to expand manufacturing lines for the
production of silicon ingots, wafers, solar cells and modules, research and
development, raw materials purchases and general working capital purposes.
On July 9, 2007, the Company confirmed initial shipments on four
recently signed contracts covering 88 to 99 MW of sales to new key accounts
in Italy and Germany over the next two to three years.
Conference Call
The company will host a conference call at 8:00 a.m. ET on August 23,
2007, to discuss the results for the quarter ended June 30, 2007. Joining
Jifan Gao, Trina Solar's Chairman and Chief Executive Officer, will be Sean
Shao, Chief Financial Officer, Sean Tzou, Chief Operations Officer, Andy
Klump, Vice President of Business Development, Arturo Herrero, Vice
President of Sales and Marketing, and Thomas Young, Director of Investor
Relations. To participate in the conference call, please dial the following
number five to ten minutes prior to the scheduled conference call time: (+1
888) 482-0024. International callers should dial (+1 617) 801-9702. The
passcode for the call is 13859684.
If you are unable to participate in the call at this time, a replay
will be available on Thursday, August 23 at 10:00 a.m. ET, through
Thursday, August 30, at 10:00 at 10:00 a.m. ET. To access the replay, dial
(+1 888) 286-8010, international callers should dial (+1 617) 801-6888 and
enter the passcode 87710119. Callers in Southern China may also dial 10 800
130 0399.
This conference call will be broadcast live over the Internet and can
be accessed by all interested parties on Trina Solar's website at
http://www.trinasolar.com . To listen to the live webcast, please go to
Trina Solar's website at least fifteen minutes prior to the start of the
call to register, download, and install any necessary audio software. For
those unable to participate during the live broadcast, a replay will be
available shortly after the call on Trina Solar's website for 90 days.

About Trina Solar Limited

Trina Solar Limited (NYSE: TSL), through its wholly-owned subsidiary
Changzhou Trina Solar Energy Co., Ltd., is an integrated solar PV
manufacturer based in China. The company began research and development
efforts in solar products in 1999 and in 2002 it started the system
integration business. The company moved into the assembly of solar modules
in 2004 as well as the manufacturing of monocrystalline ingots, wafers and
cells in 2005, 2006 and 2007, respectively. The company's solar modules
provide reliable and environmentally-friendly electric power for
residential, commercial, industrial and other applications worldwide. The
company sells its products to customers around the globe, including a
number of European countries, such as Germany, Spain and Italy, where
government incentives have accelerated the adoption of solar power. For
further information, visit the company's website at
http://www.trinasolar.com .

Wednesday, August 22, 2007

China's Solargiga eyes 300 million usd from Hong Kong IPO next month

BEIJING (XFN-ASIA) - China-based solar power equipment manufacturer Solargiga Energy Holdings is hoping to raise up to 300 million usd in an initial public offering in Hong Kong next month, the South China Morning Post reported, citing unnamed sources.

'Solargiga's offering is likely to tap the top end of between 200-300 mln usd, given the optimistic prospects for the global solar energy industry over the next two to five years. Investors are keen to take long positions on renewable energy stocks,' the Hong Kong newspaper cited a source as saying.

The company is likely to be the first pure solar energy player to list in Hong Kong.

Tuesday, August 21, 2007

CSI SOLAR BUILDING CRYSTAL GROWTH AND SILICON WAFER PROJECT IN CHINA

Asia Pulse, August 20, 2007 Monday 2:12 PM EST

CSI Solar Technologies (Luoyang) Inc., a subsidiary of the Nasdaq-listed Canadian Solar Inc. (Nasdaq:CSIQ), has recently started construction of a crystal growth and silicon wafer project with an annual output capacity of 3,000 tons in Luolong Science and Technology Park of Luoyang, capital city of central China's Henan Province.

The crystal growth and silicon wafer project requires total investment of 1.2 billion yuan (US$158 million), and its first phase project with an annual production capacity of 1,500 tons will go into trial operation in March 2008. When put into full production, it may realize sales revenue of six billion yuan and gross profits and tax of 300 million yuan annually. It will be a new pillar of Luoyang's silicon industry.

By introducing the world's most advanced energy-saving and environment-friendly equipments, the project will boast energy consumption lower than the national standard. The project covers two important links of high-tech content in the industrial chain of polysilicon-monosilicon-solar-grade silicon-solar cell.

CSI Solar Technologies (Luoyang) launched a solar cell modules assembly project with an annual output capacity of 30 megawatts in the Luoyang-based sci-tech park in October of last year, and put it into production in May this year.

Monday, August 20, 2007

LDK Solar Breaks Ground on Polysilicon Production Plant at Its Manufacturing Facilities in Xinyu City

Monday August 20, 3:15 am ET

XINYU CITY, China and SUNNYVALE, Calif., Aug. 20 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. (NYSE: LDK - News), a leading manufacturer of multicrystalline solar wafers, announced that the company hosted a groundbreaking ceremony on August 18, 2007 to celebrate the commencement of construction on its polysilicon production plant. This event was hosted by Mr. Xiaofeng Peng, Founder, Chairman and CEO. Attending the ceremony as the key honorable guest was Mr. Xinxiong Wu, Governor of Jiangxi Province with many other honorable guests from Beijing, Shanghai, Hong Kong, Taiwan, Japan, Korea, the U.S., Europe, India and other parts of the world to celebrate this event.

The polysilicon production plant will be located adjacent to LDK's current solar wafer manufacturing facilities in Xinyu City, China. This groundbreaking is in line with the company's publicly announced plans to complete construction and reach a production capacity of up to 6,000 metric tons of polysilicon by the end of 2008 and 15,000 metric tons by the end of 2009. The Company has also indicated that it plans to commence volume production by the end of 2008.

"Today's groundbreaking represents a notable milestone for LDK as we move forward with our plans to establish in-house polysilicon production and build upon our technical and operational expertise," said Mr. Peng. "We are very proud of the speed of the preparations leading to the groundbreaking and see this achievement as a demonstration of our commitment to becoming the largest and lowest cost wafer producer in the solar industry."

About LDK Solar

LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.

Saturday, August 18, 2007

Jinzhou New Century Quartz Glass Co. made breakthrough in developing low cost polysilicon

Recently Jinzhou New Century Quartz Glass Co. made breakthrough in developing low cost polysilicon, and their polysilicon quality has exceeded the client's demand.

It is said their solar-grade polysilicon production cost is much lower than the average level, and they have plan to build factory to produce 3000 ton polysilicon per year.

Jinzhou New Century Quartz Glass Co. is developing the technology to produce electrical-grade polysilicon.

LDK Solar Secures Agreement for the Supply of Wafers to Chuan-Yi Investment Corporation

August 16, 2007: 03:15 AM EST

XINYU CITY, China and SUNNYVALE, Calif., Aug. 16 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, announced today that it has signed a contract to supply multicrystalline solar wafers to Taiwan-based Chuan-Yi Investment Corporation.

Under terms of the agreement, LDK Solar will deliver multicrystalline solar wafers to Chuan-Yi valued at approximately US$516 million over a three-year period.

"We are very excited to have the opportunity to add Chuan-Yi to our growing list of global customers," stated Xiaofeng Peng, Chairman and CEO. "This agreement advances our strategy of broadening our customer base and demonstrates our position as a leading manufacturer of solar wafers. We look forward to supporting the long-term growth and success of Chuan-Yi."

"We are delighted to secure such a significant amount of high-quality solar-grade silicon wafers from LDK," commented Jin-Jiang Yeh, Chairman of Chuan-Yi. "This contract enhances Chuan-Yi's ability to promote the combined applications of solar power and LED. We look forward to building an enduring relationship with LDK in support of our future growth."

About LDK Solar

LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.

About Chuan-Yi Investment Corporation

Chuan-Yi, an affiliate of Everlight Electronics Co., Ltd., is an investment firm focused on the optoelectronic industry in Taiwan. Established in 1983, Everlight is a leading international LED company.

Thursday, August 16, 2007

Canadian Solar Establishes New U.S. Office

August 15, 2007: 08:00 AM EST

PHOENIX, Aug. 15 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company", or "CSI", or "we") today announced it has opened a new U.S. office in Phoenix, Arizona as part of the Company's expansion strategy. The new U.S. office will serve as headquarters for U.S. Operations and Sales. Jeff Calabro, Director of U.S. Sales, will be managing the Company's U.S. expansion efforts.

Dr. Shawn Qu, Chairman and CEO of CSI, said, "The U.S. is an important strategic market with the potential to become one of the world's largest solar energy consumer markets. Having a physical presence on the ground underscores our commitment and anticipated expansion. We plan to aggressively leverage our global presence and customer relationships to build significant market share in the U.S. as we have successfully done in other new markets."

Jeff Calabro, Director of U.S. Sales for CSI, said, "We plan to efficiently capitalize on the accelerated demand for PV solar solutions seen in the U.S. with targeted sales initiatives. Our objectives are to establish strong customer relationships, provide a stable supply stream of quality modules to the region, and offer services focused on meeting customer needs."

CSI modules are certified to the UL1703 standard, and approved by the California Energy Commission.


U.S. Office Contact Information
Jeff Calabro
Director of Sales -- USA
CSI Solar Inc.
3420 East Shea Boulevard, Suite 200
Phoenix, AZ 85028
Office: +1-602-953-5242
Fax: +1-602-953-5245
Email: jeff.calabro@csisolar.com


About Canadian Solar Inc.

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving worldwide customers. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com.

Wednesday, August 15, 2007

Liaoning Jinhua Polycrystalline Silicon Project Launched on August 10th

Liaoning Jinhua launched its polycrystalline silicon project on August 10th 2007. The total investment is 1.15 billion RMB, and the production technology is from Russia Rare Metal Academy. The project will be completed at the end of 2008 and its production capacity will be 1000 ton.

Inner Mongolia Shenzhou Silicon Project Started

On August 4th 2007 the Inner Mongolia Shenzhou Silicon's 1500 ton polysilicon project broke the ground, and the total investment is about 1.8 billion RMB, and the project will be finished at the end of 2008.

Jetion looks to shine on AIM

Date: Friday 06 Jul 2007

LONDON (ShareCast) - Chinese solar cells maker Jetion Holdings started trading on London’s AIM Friday having successfully raised £30.5m of new money via a placing at 151p per share.

The float values the Shanghai-based firm, whose solar cells and solar modules are made from processed solar-grade silicon wafers and convert sunlight directly into electricity, at just over £112m.

“The company is delighted at the response of the institutions,” said chairman Dipesh Shah.

“The demand for solar power, particularly in the European markets, in addition to the growing domestic demand in China, underpins the rapid growth anticipated by the management.”

Over the last five years, annual industry growth has averaged 42% and Jetion says substantial growth is projected in the future and demand is expected to continue to outstrip supply.

The solar industry has been unable to fully meet global demand for solar products due to the limited availability of solar-grade silicon, the main raw material in the production process.

The placing proceeds will primarily be used to fund the expansion of the company’s existing production facilities from two to four production lines totalling 100MW of annual production capacity.

Funds will also help cover additional working capital requirements that arise from the expansion of production.

Canadian Solar Reports Second Quarter 2007 Results

August 14, 2007: 07:00 AM EST


JIANGSU, China, Aug. 14 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company," "CSI," or "we") today reported its preliminary unaudited US GAAP financial information for the second quarter of 2007 ended June 30, 2007.

Net revenues for the quarter were $60.4 million, including $2.7 million silicon material sales, compared to net revenues of $17.3 million for the second quarter of 2006 and $17.5 million for the first quarter of 2007. Net revenues for the first quarter of 2007 included $2.8 million in silicon material sales. Net loss for the quarter was $2.9 million, or $0.11 per share, compared to net income of $2.5 million, or $0.16 per diluted share, for the second quarter of 2006 and net loss of $3.9 million, or $0.14 per share, for the first quarter of 2007. Excluding share-based compensation expenses of $2.4 million, the net loss for the quarter would have been $0.5 million, or $0.02 per share.

Dr. Shawn Qu, Chairman and CEO of CSI, commented: "Our Q2 revenues were at the high end of our guidance range. We continue to benefit from our strong international sales and marketing network and our focus on tier one distributors and project-based companies. During the quarter, we saw sustained demand for our products in Germany and Spain. We expect to complete our Phase One in-house solar cell production facility in the middle of October, which would bring our total cell capacity to 100MW per year. We have recently ramped up our module production capacity to 180MW per year. These successful steps in our expansion strategy will help to solidify our position as a major player in the industry and enable us to meet increased customer demand."

Bing Zhu, CFO of CSI, noted: "Our gross margins improved slightly in Q2 due to our increasing in-house solar cell manufacturing capability. We would have been profitable on a cash operating basis during the quarter without the following two factors: first, we cleared out 1.63MW of high-priced solar cells inventory purchased in 2006 and secondly, we incurred slightly higher yield loss, as we almost quadrupled our production within one quarter. Entering the third quarter, we are experiencing stable module pricing and expect this to continue during the second half of 2007. We have also experienced modest materials price increases from certain suppliers. We are working on improving our cost structure and operating efficiencies to offset these increases and expect our operating margins to improve significantly in Q4 as we speed up our in-house solar cell manufacturing production."

Recent Developments

We recently started to ramp up production at our second 25MW solar cell production line, following installation and acceptance tests in June and July. We expect to install our third and fourth 25MW cell production lines in September and October 2007, ahead of our original schedule. By doing so, we expect to increase our in-house solar cell manufacturing capacity to 100 MW by the middle of Q4.

We also recently entered into agreements for syndicated loans of US$50 million with Industrial and Commercial Bank of China and China Communications Bank. Both banks announced their intention to continue to support our newly revised three-year growth plan. Together with other existing banking arrangements, CSI has approximately US$90 million in available credit lines.



Revenue by Geography (US$ thousands)
Q207 Q107 Q206
Region Revenue % Revenue % Revenue %
Asia 2,959 4.9% 3,308 18.9% 96 0.6%
Europe 57,282 94.8% 12,139 69.4% 16,602 96.3%
North America 142 0.2% 225 1.3% 528 3.1%
South America -- -- 1,817 10.4% -- --
Other 30 0.1% -- 0.0% 24 0.0%
Total Net Revenue 60,413 100.0% 17,489 100.0% 17,250 100.0%

Note: Asian revenue included $2.7 million silicon materials sales in Q207
and $2.8 million silicon materials sales in Q107.



Outlook

Based on current market conditions, our order backlog and our production capacity, we are increasing our prior guidance of net revenues for the full year 2007 to $255-$265 million from $220-$230 million. Shipments for the year are expected to be 70-75MW, compared to our original estimate of 64MW. Based on indications from our key customers, the Company estimates that the demand for CSI module products in 2008 is now over 200MW.

Net revenues for the third quarter of 2007 are expected to be $80-$85 million, with cash operating income, determined on a non-GAAP basis by excluding share based compensation, in the range of $1.6-$2.0 million. Shipments for the third quarter of 2007 are expected to be 20-23 MW. In the third quarter, our current customer backlog orders are enabling us to better utilize our existing inventory of all cell grades, which will help us increase our product efficiency and improve our profit margins on the module sales.

Investor Conference Call / Webcast Details

A conference call has been scheduled for 9:00 p.m. on Tuesday, August 14, 2007 (in Jiangsu). This will be 9:00 a.m. on Tuesday, August 14, 2007 in New York. During the call, time will be set aside for analysts and interested investors to ask questions of executive officers.

The call may be accessed by dialing +1-866-202-0886 (domestic) or +1-617- 213-8841 (international). The passcode to access the call is 62629322. A replay of the call will be available starting one hour after the call and continuing until 11:00p.m. on Tuesday, August 21, 2007 (in Jiangsu) or 11:00a.m. on Tuesday, August 21, 2007 (in New York) at http://www.csisolar.com and by telephone at +1-888-286-8010 (domestic) or +1-617-801-6888 (international). The passcode to access the replay is 54310460.

About Canadian Solar Inc.

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and custom-designed solar application products serving worldwide customers. CSI is incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years of experience and knowledge in the solar power market and the silicon industry, CSI has become a major global provider of solar power products for a wide range of applications. For more information, please visit http://www.csisolar.com .

Tuesday, August 14, 2007

Deli Solar (USA), Inc. Announces Record Second Quarter 2007 Financial Results

LOS ANGELES and BEIJING, Aug. 13 /Xinhua-PRNewswire-FirstCall/ -- Deli Solar (USA), Inc. (OTC Bulletin Board: DLSL), an established significant seller of solar water heaters and space heating devices in the People's Republic of China (the "PRC"), announced its results for the second quarter which ended June 30, 2007.

Sales for the second quarter of 2007 increased 33% to $9.4 million compared to $7.1 million for the same quarter in 2006. Revenues were comprised of over 63,000 solar water heaters and 37,000 boilers sold during the quarter. Gross profit for the three months ended June 30, 2007 was $1.9 million, an increase of approximately 30% from the second quarter of 2006. Gross margins were 20.5% to 21.1% for the second quarter of 2007 and 2006 respectively.

Operating expenses for the three months ended June 30, 2007 decreased 4% to $1.1 million compared to the same period in 2006 and a result of prudent management of general and administrative expenses despite a 32% increase in advertising expenses focused on gaining market share.

Operating income for the second quarter of 2007 totaled $0.8 million compared to $0.3 million for the same period in 2006, representing a 163% increase. Net income for the 2007 second quarter increased 113% to $0.6 million, representing earnings per share of $.10, from $0.3 million in net income, or $.04 per share during the second quarter of 2006. Calculations were based upon 6.6 million and 8 million shares outstanding respectively.

"Revenue growth was driven by higher unit sales of solar water heaters and residential boilers which benefited from continued investment in brand marketing, sales promotions and further expansion of our sales distribution network," commented Mr. Deli Du, President and Chief Executive Officer. ''While margins were slightly impacted by competition and pricing pressure, our ability to prudently manage raw material and organizational costs enabled us to dramatically increase operating profitability. In addition, we made further progress installing our new flat plate collector production and water assembly line, which we expect to be fully operational during September 2007. We expect this to enhance our production efficiencies and improve the quality of our products while contributing a positive impact on future operating margins,'' continued Mr. Du.

Six Month Results

Sales increased approximately 32% to $12.4 million for six months ended June 30, 2007 as compared to $9.4 million for the same period last year resulting from continued investment in brand marketing, sales promotion and development of a sales distribution network. Operating expenses for the six months ended June 30, 2007 were $1.6 million as compared to $1.5 million for the same period in 2006, an increase of 4%. Operating income for the six months ended June 30, 2007 was $1.1 million, increased 109% as compared to $0.5 million for the six months ended June 30, 2006.

Net income was $0.9 million in the six months ended June 30, 2007, compared with $0.5 million in the same period last year, an increase of $0.4 million, or approximately 84%. This equated to earnings of $.14 per share compared to $.06 per share for the first six months of 2006 based on 6.4 million and 8 million fully diluted shares respectively.

Balance Sheet and Cash Flow Discussion

The Company reported $5.7 million in cash and equivalents on June 30, 2007, a current ratio of 12.3 to 1 and was debt free. The Company completed a $2.5 million financing in June 2007. Net cash flow from operations was $0.3 million for the six months ended June 30, 2007, a slight increase from the same year ago period. In addition, the Company incurred approximately $0.4 million in capital expenditures on new facilities and assembly lines at its Bazhou factory during the first six months of 2007.

"We continue to make further progress on our acquisition strategy as we signed a purchase agreement on May 18, 2007 to buy 51% of Tianjin Huaneng Energy Equipment Company, which manufactures energy saving boilers and environmental protection equipment for industrial customers. As part of the acquisition we paid approximately $1.6 million in July 2007 with approximately $100,000 balance due and a separate finders' fee. We also agreed to invest approximately $2.5 million into the new company to expand production capabilities and operations. With an effective accounting date of July 1, 2007, we anticipate this purchase will contribute to both revenues and profitability during the balance of this year. Separately, we continue to pursue the purchase of a 60% equity stake in Shenzhen Xiongri Solar Power Co., Ltd., which provides solar water heaters for commercial customers and multi-family developers throughout Shenzhen,'' Mr. Du concluded.

About Deli Solar (USA), Inc.

Deli Solar (USA) Inc. operates through its wholly owned subsidiaries Bazhou Deli Solar Energy Heating Co. Ltd. ("Deli Solar (Bazhou)") and Beijing Deli Solar Technology Development Co., Ltd. ("Deli Solar (Beijing)"), both located in the PRC. The Company sells and distributes hot water and space heating devices to customers in the PRC. For more information, please visit http://www.delisolar.com .

Suntech Reports Second Quarter 2007 Financial Results

WUXI, China, Aug. 9 /Xinhua-PRNewswire/ -- Suntech Power Holdings Co.,
Ltd. (NYSE: STP), one of the world's leading manufacturers of photovoltaic
(PV) cells and modules, today announced second quarter 2007 financial
results.

Second Quarter 2007 Highlights(1)
-- Exceeding guidance, total production output was over 80MW and total net revenues grew 147.7% year-over-year to $317.4 million.

-- On a non-GAAP(2) basis, Suntech group's net income was $48.9 million. Excluding the impact of MSK, net income was $50.8 million or $0.30 per diluted American Depository Share (ADS). Each ADS represents one ordinary share.

-- Suntech group's non-GAAP gross margin in its core Wafer to Module business was 23.9% and blended non-GAAP gross margin was 21.1%. Margin improvement was primarily due to the increase in delivery of lower priced wafers from long-term contract wafer suppliers.

-- Annualized PV cell production capacity expansion is on track to reach 480MW by the end of 2007.

"I am pleased to report excellent results for the second quarter," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "We once again exceeded our output target as we saw unprecedented demand for Suntech's high quality solar panels across a range of international markets. In fact, our sales demand has been so strong that we have already signed contracts to deliver over 150MW of our PV modules in 2008. To put that in perspective, that is nearly equal to Suntech's entire output in 2006. As we deepen our sales channels and networks in key geographies, we believe we will continue to grow faster than our competitors as well as the underlying markets."

"In the second quarter, our margins improved as ASPs remained in line with our expectations and silicon deliveries from our long-term suppliers returned to schedule." Dr. Shi added, "Our MSK integration efforts combined with the strategic refocus on building-integrated photovoltaic products (BIPV) has also led to greater global sales traction and improvements in the margin impact of our MSK products."

Commenting on Suntech's technology, Dr. Shi said, "We are pleased with the progress of our solar innovation initiatives. Despite the success of our high performance semi-conductor finger technology, our ground-breaking 20% efficiency Pluto technology is demonstrating even more impressive results in pilot production and we are on track to commence commercial production using this technology in 2008."

Dr. Shi continued, "Through this period of dynamic growth, we are determined to expand production capacity and increase our competitiveness by leveraging our manufacturing efficiency, technology advantages, and balanced silicon sourcing strategy."

Recent Business Highlights

-- Demand for Suntech's PV products in Spain continued to grow in the second quarter particularly through collaborations with key customers on multi-megawatt projects. Suntech is on track to become one of the largest suppliers of PV products to Spain.

-- Suntech began shipping PV modules for the 8.2MW Alamosa solar power plant project in Colorado which is one of the largest PV projects in the United States to date.

-- Suntech recently improved its long-term silicon position by signing a contract with Hoku Materials to purchase up to $678 million of polysilicon over a ten-year period. Shipments of set volumes of polysilicon at fixed prices are scheduled to begin in 2009.

-- Suntech's MSK branded BIPV system was a key component of Kingspan Off - Site's "Lighthouse" net-zero carbon home, which is the first house designed to comply with the British government's Code for Sustainable Homes Level 6. By 2016, all new homes built in the United Kingdom will be required to be designed and constructed to meet the Code for Sustainable Homes Level 6.

-- The Company recently completed phase 1 of an 800kW BIPV curtain wall project at Wuxi Airport in China. The installation showcases Suntech's BIPV capabilities and serves as a model project for other potential solar installations in China.

-- Suntech successfully met the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 ("SOX") regarding internal controls over financial reporting. The internal control systems have helped Suntech improve operating efficiency and manage rapid production and sales growth.

Second Quarter 2007 Results
Non-GAAP Non-GAAP
Net Revenues % of Net Gross Profit Gross
(in $ millions) Revenues (in $ millions) Margin (%)

Standard PV Modules $313.5 98.8 % $66.3 21.2 %
-- Wafer to Modules 274.6 86.5 65.5 23.9
-- Cell to Modules* 38.9 12.3 0.8 2.0

Others 3.9 1.2 0.6 15.6
Total (consolidated) $317.4 100 % $66.9 21.1 %

Total (excluding MSK) $297.5 -- $67.5 22.7 %


* The Cell to Modules segment includes both Suntech modules produced from
third-party cells and MSK's slow moving module inventory.
On a GAAP basis, gross profit was $64.3 million and gross margin was
20.3%, operating income was $38.1 million, and net income was $41.3 million
or $0.25 per diluted ADS.
Non-GAAP operating expenses in the second quarter of 2007 were $21.4
million and accounted for 6.7% of net revenues.
Non-GAAP income from operations for the second quarter of 2007 was
$45.6 million and non-GAAP operating margin was 14.4%.
Non-GAAP net income attributable to holders of ordinary shares for the
second quarter of 2007 was $48.9 million, or $0.29 per non-GAAP diluted
ADS.
In the second quarter of 2007, capital expenditures, which were
primarily related to production capacity expansion and the construction of
the Wuxi and Luoyang production facilities, were $51.7 million and
depreciation and amortization expenses were $4.2 million.
During the second quarter of 2007, the total number of diluted ADSs
outstanding increased from 164.1 million to 168.9 million, primarily due to
an increase of 4.8 million ADSs on an "as converted" basis. The additional
ADSs represent the final portion of the 10.3 million ADSs that may be
issued in the future as a result of the February 2007 convertible note
offering of $500 million.
Suntech's results for the second quarter of 2007 excluding MSK were as
follows:
Non-GAAP operating expenses as a percentage of net revenues were 6.4%,
non-GAAP income from operations was $48.5 million and non-GAAP operating
margin was 16.3%, and non-GAAP net income was $50.8 million. Suntech's
successful execution of its integration initiatives was reflected in this
quarter's results as Suntech reduced its loss from MSK operations by
approximately 40% from the first quarter of 2007 to $1.9 million.
Senior Management Hires and Promotions
Suntech announced the following key promotions and new hires:
Mr. Steven Chan who was previously the Vice President of Business
Development has been promoted to the position of Chief Strategy Officer.
Mr. Chan will be focused on enhancing and solidifying Suntech's long term
focus to be a leading solar energy company. In addition to strategy and
business development, he will also be responsible for the investor
relations and marketing function. His near term focus will be to head new
business initiatives in North America as well as to foster key
relationships with partners and suppliers.
Mr. Hao Zhi who was previously the Investment Controller has been
promoted to the position of Investment Director. Mr. Hao will head the
company's investment initiatives including mergers and acquisitions,
strategic ventures and alliances.
Dr. Frank Zhang and Mr. Henry Ng are newly hired general managers who
will manage Suntech's key production facilities. Dr. Zhang will oversee
Suntech's thin film manufacturing facility in Shanghai and Mr. Ng will
oversee Suntech's core PV manufacturing facility in Wuxi including its new
one Gigawatt facility. Both Dr. Zhang and Mr. Ng have extensive experience
in the related semiconductor manufacturing industry.
Prior to joining Suntech, Dr. Zhang was the Chief Operating Officer at
China Resources Semiconductor Wafer & Chip Company, a semiconductor foundry
in China. He also held a number of senior positions at Honeywell in
California. Dr. Zhang received his MBA from the China Europe International
Business School, Shanghai, and his Ph.D. in Mechanical and Materials
Engineering from Clarkson University, New York.
Mr. Ng previously worked for over 10 years at Sony's manufacturing
facilities in Singapore and China. Most recently he served as senior
general manager of Sony's Huizhou facility that manufactures specialty LLCD
chips. Prior to that, Mr. Ng acted as general manager at MI Wuxi Co., Ltd,
a precision plastic molding company, Volex Cable Assembly (Suzhou), a first
tier telecom and automotive supplier, and at Seagate Technology. Mr. Ng
received a B.Sc degree from the National University of Singapore in Applied
Physics.
Mr. Jason Somer was hired as the Senior Director of Business
Development to be based in the United States. Mr. Somer was previously the
Director of Legal Affairs at IronPort Systems, an e-mail and Web security
appliance company in San Francisco that was acquired by Cisco Systems.
Prior to that he held legal and business development positions at Neoforma,
a Nasdaq-listed healthcare technology company in San Jose. Mr. Somer had
previously worked as a corporate/securities associate for law firms in New
York City, most recently Morrison & Foerster. Mr. Somer received an LL.M.
from Boston University, an LL.B. from the University of British Columbia,
and a B.Sc. from the University of Western Ontario.
Outlook for Third Quarter and Full Year 2007
Based on current operating and other conditions, Suntech expects its
third quarter 2007 total production output to be in the estimated range of
94MW to 96MW.
Conference Call Information
Suntech's earnings announcement conference call will take place on
August 9, 2007 at 8:00a.m., Eastern Time, which corresponds to August 9,
2007 at 8:00p.m., Beijing/Hong Kong time.
To access the conference call, please dial +1-617-597-5344 (for U.S.
callers) or +852-3002-1672 (for international callers) and ask to be
connected to the Suntech earnings conference call. A live and archived
webcast of the conference call will be available on the Investors section
of Suntech's website at http://www.suntech-power.com .
A replay of the conference call will be available until August 20, 2007
by dialing +1 617-801-6888 (passcode: 14519969).
About Suntech
Suntech Power Holdings Co., Ltd. is a leading solar energy company in
the world as measured by both production output and capacity of solar cells
and modules. Suntech provides solar solutions for a green future. Suntech
designs, develops, manufactures, and markets a variety of high quality,
cost effective and environmentally friendly PV cells and modules for
electric power applications in the residential, commercial, industrial, and
public utility sectors. Suntech's majority-owned subsidiary, MSK
Corporation is one of the top-ranked companies in the building-integrated
photovoltaics (BIPV) space. Suntech's customers are located in various
markets worldwide, including key markets throughout Europe, North America,
Japan and China. For more information, please visit
http://www.suntech-power.com .

Monday, August 13, 2007

Olympics: China trying to put on a ''green'' Olympics

BEIJING, Aug. 7 (Xinhua) -- The Chinese capital is adopting eco-friendly technologies in transportation, power supply, water and waste management to ensure a "green" Olympic Games, according to the Chinese Ministry of Science and Technology.

The city plans to use 100 hybrid-electric vehicles as public buses at all venues and several hundred electric vehicles will serve in the logistics departments of the Olympic Village and all stadiums while electric bicycles will be provided in the main Olympic area, according to the press release.

The project also covers Beijing's public transport system, setting a goal of having 80 percent of buses and 70 percent of taxis fueled by clean energy by 2008.

As part of the efforts, 14 electric buses have been running on one bus route for two years in Beijing as a pilot project while 1,300 buses fueled by compressed gas have been put into operation.

Of the two million square meters of buildings used for the Olympics, 26.9 percent will be powered by clean energy like solar energy, wind and geothermal power, the ministry said.

The seven main stadiums in Beijing will be equipped with solar generators with a total capacity of 480 kw while 90 percent of the lighting outside the stadiums and hot water supply in the Olympics Village will powered by solar energy.

Beijing will have its first wind power plant by the end of this year with a capacity of 50,000 kw, which will supply main stadiums.

All major Olympics venues are equipped with rainwater collectors and sewage recycling facilities to save water, the ministry said.

And 90 percent of the waste produced in the Olympic areas will be sent to waste plants for sorting and recycling, it said.

To realize these goals, the ministry, the Beijing municipal government and the Olympic organizers have spent 1.86 billion yuan(245 million U.S. dollars) in research and development of relevant technologies and facilities.

However, the city's environmental problems, particularly air quality, are still worrying many people a year before the Games.

JA Solar Reports Second Quarter 2007 Results

August 08, 2007: 07:00 AM EST

* Total revenues for 2Q07 of RMB 457.0 million (US$60.0 million) compared to revenues of RMB 96.1 million (US$12.6 million) for 2Q06
* 2Q07 net income of RMB 1.63 (US$0.21) per diluted ADS compared to RMB 0.67(US$0.09) per diluted ADS in 2Q06
* Total capacity has reached 175MW per annum

HEBEI, China, Aug. 8, 2007 (PRIME NEWSWIRE) -- JA Solar Holdings Co., Ltd. ("JA Solar", "the Company") (Nasdaq:JASO) today reported financial results for the second quarter ended June 30, 2007.

Second Quarter 2007 Results

Total revenues for the second quarter of 2007 were RMB 457.0 million (US$60.0 million), compared to revenues of RMB 96.1 million (US$12.6 million) for the second quarter of 2006, and RMB 335.1 million (US$44.0 million) in the first quarter of 2007. The second quarter of 2007 revenues included solar cells processing service revenue of RMB 26.2 million (US$3.4 million), compared to Nil in the second quarter of 2006 and RMB 0.1 million (US$0.02 million) in the first quarter of 2007.

Total gross profit for the second quarter of 2007 was RMB 110.1 million (US$14.5 million), including solar cells processing service profit of RMB 19.8 million (US$2.6 million). Total gross margin was 24.10% for the second quarter of 2007. Excluding solar cells processing service gross profit, our gross margin was 20.96% compared to 20.50% in the first quarter of 2007.

Net income available to ordinary shareholders for the second quarter of 2007 was RMB 75.7 million (US$9.9 million) compared to a net income available to ordinary shareholders of RMB 17.8 million (US$2.3 million) for the second quarter of 2006, and net income available to ordinary shareholders of RMB 58.3 million (US$7.7 million) for the first quarter of 2007.

For the second quarter of 2007 basic and diluted earnings per ADS were RMB 1.64 (US$0.22) and RMB 1.63 (US$0.21) respectively. Each ADS represents three of our ordinary shares.

The second quarter of 2007 expenses included share-based compensation expense of RMB 12.0 million (US$1.6 million), or RMB 0.26 (US$ 0.03) per diluted ADS.

Capital expenditures were RMB 47.4 million (US$6.2 million) in the second quarter of 2007, as compared to RMB 101.2 million (US$13.3 million) in the previous quarter and RMB 39.6 million (US$5.2 million) in the second quarter of 2006. Depreciation and amortization expenses in the second quarter of 2007 were RMB 6.3 million (US$0.8 million), as compared to RMB 5.2 million (US$0.7 million) in the previous quarter and RMB 2.1 million (US$0.3 million) in the second quarter of 2006.

As of June 30, 2007, JA Solar had cash and cash equivalents of RMB 1.6 billion (US$205.7 million) compared with RMB 1.8 billion (US$235.9 million) at the end of the first quarter of 2007. Short term debt decreased to RMB 150 million (US$19.7 million) at the end of the second quarter of 2007 from RMB 200 million (US$26.3 million) at the end of the first quarter of 2007.
Set out below is a summary of megawatts produced and shipped (including processing service): ---------------------------------------------------------------------
Three months ended
---------------------------------------------------------------------
Megawatts June 30, 2006 March 31, 2007 June 30, 2007
---------------------------------------------------------------------
Produced 3.0MW 17.6MW 22.6MW
---------------------------------------------------------------------
Shipped 3.1MW 14.4MW 24.0MW
---------------------------------------------------------------------
The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in The City of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of June 29, 2007, which was RMB 7.6120 to US$1.0000. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on June 29, 2007, or at any other date. The percentages stated in this press release are calculated based on Renminbi.

Samuel Yang, JA Solar's Chief Executive Officer, said, "Our business momentum and track record of execution continued in the second quarter. Results came in at or above the high-end of our internal target for revenue, gross margin and net income. Four new production lines commenced production ahead of schedule. The JA Solar brand is becoming the standard for high-quality, high-performance monocrystalline solar cells. We remain focused on leveraging this differentiated position to further our customer diversification and global expansion efforts."

Herman Zhao, JA Solar's Chief Financial Officer, said, "Gross margin increased in the second quarter of 2007 from the first quarter of 2007 despite incurring routine costs. We now have a total of 175 MW of solar cell manufacturing capacity per annum. As we move into the second half of the year we will begin to solidify our capacity expansion plans for 2008 based on customer forecasts."

Company Raises 2007 Outlook

Based on current market conditions and customer forecasts, the Company is raising its production outlook for 2007 from approximately 100MW to 110MW. This would result in revenues for the full year of 2007 in the range of approximately RMB 2,284 million (US$300 million) to RMB 2,360 million (US$310 million), with a gross margin expected to be approximately 19.5%, compared to prior guidance for revenues in the range of RMB 2,128 million (US$280 million) to RMB 2,205 million (US$290 million), with a gross margin expected to be approximately 19.5%.

Samuel Yang, JA Solar's Chief Executive Officer, said, "We remain optimistic in our outlook for the second half of 2007. The increase in our guidance for the full year of 2007 reflects the strong demand globally for our high-quality, high-performance monocrystalline solar cells. We continue to diversify our customer base to take advantage of beneficial strategic relationships."

Investor Conference Call / Webcast Details

A conference call has been scheduled for 9:00 p.m. on Wednesday, August 8, 2007 (in Hebei). This will be 9:00 a.m. on Wednesday, August 8, in New York. During the call, time will be set aside for analysts and interested investors to ask questions of executive officers.

The call may be accessed by dialing +1-201-689-8560. A live webcast of the conference call will be available on the Company's website at www.jasolar.com. The playback will be available beginning two hours after the live call and will be accessible by dialing +1-201-612-7415. The account number to access the replay is 3055 and the passcode is 250008.

About JA Solar Holdings Co., Ltd.

Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing manufacturer of high-performance monocrystalline solar cells. The Company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.

Saturday, August 4, 2007

LDK Solar Reports Financial Results for the Second Quarter 2007

August 01, 2007: 04:05 PM EST

XINYU CITY, China and SUNNYVALE, Calif., Aug. 1 /PRNewswire-FirstCall/ -- LDK Solar Co., Ltd. , a leading manufacturer of multicrystalline solar wafers, today reported its unaudited financial results for the second quarter ended June 30, 2007.

All financial results are reported on a U.S. GAAP basis.

Second Quarter 2007 Financial Highlights:
-- Revenue of $99.1 million, up 716% from the year ago quarter
-- Gross profit of $34.9 million, up 1,265% from the year ago quarter
-- Net income of $28.7 million, or $0.29 per diluted ADS, up 2,083% from the year ago quarter
-- Increased annualized multicrystalline wafer production capacity from 215 MW to 300 MW, up 40% quarter-over-quarter

Net sales for the second quarter of fiscal 2007 were $99.1 million, up 35% sequentially from $73.4 million for the first quarter of fiscal 2007, and up 716% year-over-year from $12.1 million for the second quarter of fiscal 2006.

Gross profit for the second quarter of fiscal 2007 was $34.9 million, up 23% sequentially from $28.4 million for the first quarter of fiscal 2007, and up 1,265% year-over-year from $2.6 million for the second quarter of fiscal 2006. Gross margin for the second quarter of fiscal 2007 was 35.2%, compared with 38.7% in the first quarter of fiscal 2007 and 21.0% in the second quarter of fiscal 2006.

Net income for the second quarter of fiscal 2007 was $28.7 million, or $0.29 per diluted ADS, compared to net income of $24.5 million, or $0.27 per diluted ADS for the first quarter of fiscal 2007, and $1.3 million, or $0.02 per diluted ADS for the second quarter of fiscal 2006.

The Company ended the second quarter of fiscal 2007 with $250.6 million in cash and cash equivalents.

"We are pleased to report strong results for the second quarter, our first as a public company," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "Our results demonstrate our success in providing our customers, leading global solar cell and module manufacturers, with high-quality multicrystalline solar wafers at significant cost advantages. During the quarter, we executed our growth strategy on plan and continued the rapid expansion of our production capacity. In addition to ramping our production lines, we continued to make progress on our cost reduction efforts through further advancements of our production processes.

"We recently ordered additional DSS furnaces and wire saws to further expand our manufacturing capacity to 1,600 MW by the end of 2009. We also announced the purchase of polysilicon production equipment, enabling LDK to produce virgin silicon feedstock. By augmenting our strategy upstream, we believe we will enhance our cost efficiencies," concluded Mr. Peng.

Business Outlook

The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. The Company undertakes no obligation to update these statements.

For the third quarter of fiscal 2007, LDK estimates revenue is expected to be in the range of $115 to $125 million and fully diluted earnings per ADS of $0.29 to $0.32.

Conference Call Details

The LDK Second Quarter teleconference and webcast is scheduled to begin at 5:00 p.m. Eastern Time (ET), on Wednesday, August 1, 2007. To listen to the live conference call, please dial 800-257-6607 (within U.S.) or 303-262-2006 (outside U.S.) at 4:50 p.m. ET on August 1, 2007. An audio replay of the call will be available to investors through August 6, 2007, by dialing 800-405-2236 (within U.S.) or 303-590-3000 (outside U.S.) and entering the passcode 11093873#.
A live webcast of the call will be available on the company's investor relations website at http://investor.ldksolar.com.

About LDK Solar

LDK Solar Co., Ltd. is a leading manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafer processing services to monocrystalline and multicrystalline solar cell and module manufacturers. LDK's headquarters and manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi province in the People's Republic of China. The company's office in the United States is located in Sunnyvale, California.

Friday, August 3, 2007

Nan'an will become one new PV industry production base

August 2nd Fujian province government held one news release conference to announce that the Fujian province PV industry development forum (Nan'an PV project promotion meeting) would be held on August 9th in Nan'an city. The ground breaking ceremony for seven PV projects will be held on the same day.

Fujina is trying to make Nan'an the new PV industry production base. Fujian is rich in silicon material, and Nan'an Sanjing Silicon company has built silicon production base in Dehua and Taining, and built purified silicon production base in Nan'an. Nan'an Sanjing Silicon company is able to produce solar grade polysilicon by some physical process, and the production cost is much lower compared with other production process, and the power consumption is lowered also.

And Nan'an PV industry production base is partnering with some universities in the development of PV technologies. The PV industry production base will be finished by 2020, its first phase project will be finished by 2010.

Nan'an PV industry production base will have the whole production chain, from polysilicon to silicon wafer, from solar cell to solar panel.

China Solar Cell Association will be founded

China Battery Industry Association plans to found China Solar Cell Association to coordinate and push the development of China solar energy industry.

The Future is Solar

By Robert Rapier

I have done a lot of research lately into various alternative diesel technologies as I was working on my renewable diesel chapter. One thing that became very clear to me is that the world will not be able to displace more than a fraction of our petroleum usage with biofuels. I already knew that this was the case with ethanol, but now I believe that is true of all liquid fuels. Consider this sneak preview (still in draft form) from the book:

There are approximately 4 billion arable acres in the world. There are many different feed stocks from which to make renewable diesel, but most biodiesel is made from rapeseed oil. Rapeseed is an oilseed crop that is widespread, with relatively high oil production.

Consider how much petroleum could be displaced if all 4 billion acres of arable land were planted in rapeseed, or an energy crop with an oil productivity similar to rapeseed. The average rapeseed oil yield per year is 127 gallons/acre. On 4 billion acres, this works out to be 33 million barrels per day of rapeseed oil. The energy content of rapeseed oil is about 10% less than that of petroleum diesel, so the petroleum equivalent yield from planting all of the world's arable land in one of the more popular biofuel options is just under 30 million barrels per day. This is just over a third of the world's present usage of petroleum, 85 million barrels per day. Yet this is the gross yield. Because it takes energy to grow, harvest, and process biomass into fuel, the net yield will be lower, and in some cases may even be negative ( i.e., more energy put into the process than is contained in the final product).

The fundamental problem here is that photosynthesis is not very efficient. Consider the rapeseed oil yield above. A reader at The Oil Drum made a table that is basically the solar capture/conversion to oil from various crops. I tried to recreate the table, but it was taking far too much time (Blogger has a terrible quirk about tables), so here is a link.

Basically, the gist is that only a few hundredths of a percent of the incoming solar energy gets converted into liquid fuels. Of course some did get converted into other biomass, which could be otherwise used for energy, but generally when an acre of rapeseed/canola is planted, we get about 0.06% conversion of the sun's energy into oil. (This exercise can still be proven by assuming the theoretical limit for photosynthesis. One must just make more assumptions and it is not as easy to follow).

Consider now direct solar capture. Let's not even consider the record 40+% efficiency that Spectrolab announced last year. Let's not consider any of the more exotic technologies that are pushing the envelope on direct solar capture efficiency. BP's run of the mill silicon solar cells operate with an efficiency of 15%. That's about 250 times better than the solar to rapeseed oil route. Or, to put it a different way, you can produce the same amount of energy with direct solar capture in a 13 ft. by 13 ft. area that you can by photosynthesis in 1 acre of rapeseed. And odds are that you have a roof with an area that size, which could be used to capture energy without the need to use arable land.

Of course the disadvantages are 1). The costs for solar are still relatively high; 2). We have a liquid fuel infrastructure; 3). Storage is still a problem. But in the long run, I don't see that we have any chance of maintaining that infrastructure. The future is solar.

Thursday, August 2, 2007

Shanxi Tianhong Silicon Material Company invested 5.2 billion RMB to produce polysilicon

Shanxi Tianhong Silicon Material Company signed the investment contract with Xianyang government to produce polysilicon on July 31st, 2007. The total investment is 5.2 billion RMB, and the total polysilicon production capacity will be over 10,000 ton.

The first phase project will be able to produce 3750 ton polysilicon per year, including electronic grade polysilicon 1250 ton and solar grade polysilicon 2500 ton.

Solarfun Acquires Majority Stake in Silicon Wafer Producer

Acquisition to Give Solarfun Wafer Production Capacity and Access to Additional Polysilicon Supply

SHANGHAI, China--(BUSINESS WIRE)--Solarfun Power Holdings Co., Ltd. ("Solarfun")(NASDAQ: SOLF), an established manufacturer of both photovoltaic (PV) cells and modules in China, today announced that it has entered into an agreement to acquire a 52% equity interest in Jiangsu Yangguang Solar Technology Co. Ltd. ("Yangguang Solar") for approximately US$8 million from Nanjing Linyang Electric Power Investment Co., Ltd. ("Linyang Electric").

Yangguang Solar, an early stage company, is engaged in silicon wafer production. It was founded by Jiangsu Zhongneng PV Technology Development Co., Ltd. ("Zhongneng"), a polysilicon supply company in China. Zhongneng sold a 70% equity interest in Yangguang Solar to Linyang Electric and a 30% interest to Lianyungang Suyuan Group Co, Ltd. ("Suyuan Group") in June, 2007.

Solarfun's purchase of Yangguang Solar has the same price per equity interest and substantially the same terms as Linyang Electric's purchase from Zhongneng in June. Mr. Yonghua Lu, Solarfun's founder, significant shareholder, Chairman and Chief Executive Officer, owns a 70% equity interest in Linyang Electric. Both Linyang Electric and Suyuan Group own a minority equity interest in Zhongneng. Upon completion of the transaction in early August 2007, Solarfun will own 52% of Yangguang Solar, Linyang Electric will own 18% and Suyuan Group will own 30%.

Yangguang Solar plans to commence operations in October 2007 with an annual production capacity of 15-20 MW of 5-inch silicon wafers. Total production in 2007 is expected to be 3-5MW. Yangguang Solar intends to install additional equipment to enable it to gradually move to 6-inch silicon wafer production in 2008. Total production capacity is expected to be 60-80MW in 2008, with expected annual production of 50-60MW.

Yangguang Solar has secured 1,950 tons of polysilicon supply over a three-year period from Zhongneng. The agreement calls for delivery of 50 tons in 2007, 700 tons in 2008 and 1,200 tons in 2009. Solarfun has the option to acquire all or any portion of the wafers produced by Yangguang Solar if the products meet Solarfun's testing standards.

Zhongneng has agreed to provide Yangguang Solar a 3% discount to market price for all polysilicon purchased by Yangguang Solar over the three-year supply period and Yangguang Solar has similarly agreed to provide Solarfun a 3% discount to market price for all wafers purchased from Yangguang Solar by Solarfun, if any.

This acquisition provides Solarfun with an additional source for silicon wafers, as well as strategic flexibility to expand into additional segments of the solar industry value chain in the future, while minimizing near-term capital requirements.

"This acquisition is a very positive strategic development for Solarfun," said Mr. Yonghua Lu, Chairman and CEO of Solarfun. "It allows us to secure access to a steady supply of silicon wafers at a reasonable price. Moreover, in an industry where quality is paramount, competition intense, and raw materials often in short supply, acquiring Yangguang Solar ensures that we will be able to provide our customers with top quality products at a competitive price."

About Solarfun

Solarfun Power Holdings Co, Ltd. manufactures both PV cells and PV modules, provides PV cell processing services to convert silicon wafers into PV cells, and supplies solar system integration services in China. Solarfun produces both monocrystalline and multicrystalline silicon cells and modules, and manufactures 100% of its modules with in-house produced PV cells. Solarfun sells its products both through third-party distributors, OEM manufacturers and directly to system integrators. Solarfun was founded in 2004 and its products have been certified to TUV and UL safety and quality standards. SOLF-G
http://www.solarfun.com.cn

GT Solar to Equip One of Largest Solar Wafer Factories in World

Glory Silicon Energy Purchases DSS450 Furnaces -- $171 Million Order
Press Release from GT Solar Incorporated

Merrimack, NH (USA), July 31, 2007 - GT Solar Incorporated, one of the major providers of manufacturing equipment and turnkey manufacturing solutions to the photovoltaic (PV) industry, announced today that it has signed a $171 million dollar contract with Glory Silicon Energy Co., Ltd., of JiangSu, China for GT's new and more efficient DSS450 furnaces for the production of multi-crystalline silicon ingots. The contract is the largest single DSS furnace contract in GT Solar's history and will include deliveries over the next two years. The order will equip what is projected to be one of the largest wafer factories in the world - about 1500MW annually.

The DSS450 (Directional Solidification System) furnace is new to GT Solar's equipment line. It is similar to the DSS240, but can grow larger silicon ingots than GT's DSS240 furnace, with an average ingot weight of 400kg (or customized up to 450kg), and can deliver 30% more output than GT's DSS240 furnace.

GT Solar Incorporated President and CEO, Thomas Zarrella, said: "Glory Silicon Energy Co. will be a major player in the growth of the global solar industry. Glory's order for our DSS450 furnaces over the next two years is one more indication of the significant growth of the solar industry in China."

GT Solar Vice President for Asia, Jeff Ford, said: "This is the second major order for GT Solar's new DSS450 furnaces that produce larger silicon ingots. It's a key part of Glory's plan to jumpstart its production."

Glory Silicon Energy Co., Ltd. President, Wang LuBao, said: "We have turned to GT Solar for its DSS450 furnaces because they are the most technologically advanced on the market today. We look forward to using GT's equipment to produce quality solar wafers for the growing solar marketplace worldwide."

About GT Solar Incorporated

GT Solar Incorporated, a wholly owed subsidiary of GT Solar International, is one of the largest providers of manufacturing equipment and turnkey manufacturing solutions across the photovoltaic supply chain. Based in Merrimack, NH (USA), the company's products include equipment used to produce multi-crystalline solar wafers, cells and modules. GT Solar also manufactures polysilicon reactors, which allow its customers to produce the polysilicon from which solar wafers are made. For more information, go to http://www.gtsolar.com/.

About Glory Silicon Energy Co., Ltd.

Glory Silicon Energy (Zhenjiang) Co., Ltd. is a newly established company with its production facility in the city of Yangzhong in the Chinese province of Jiangsu. It was founded by various investors, including the Huantai Corporation. Huantai was one of the first Chinese businsesses to get into the production of solar wafers.

Wednesday, August 1, 2007

Mainstreaming Clean Energy in Rizhao, China

On June 15, the city of Rizhao, China, received a 2007 World Clean Energy Award (WCEA) in the category of "Policy and Lawmaking" for its popularization of clean energy. The award’s presenters noted that in a nation known for its heavy dependence on coal, Rizhao represents an inspiring example of the mainstreaming of renewable energy sources. Large-scale solar power and marsh gas applications in the city directly benefit more than 1.5 million residents, dramatically reducing their yearly energy costs while providing other environmental and health benefits.

Policy and lawmaking by Rizhao's local administration have been instrumental in bringing about the city's energy revolution. Since his appointment in 2001, Mayor Lizhaoqian and the Rizhao Municipal Government have adopted several measures and policies aimed at popularizing clean energy technology, including the Regulations on Implementing Solar Energy and Construction Integration that standardize the use of solar energy--particularly solar water heaters--in new buildings. Building examiners must approve all construction procedures before the buildings are sanctioned, and any blueprints that lack built-in solar water heaters will fail to pass final approval.

Solar water heaters are currently installed in 99 percent of all buildings in Rizhao's urban area, and in more than 30 percent of residences in rural areas. Additionally, more than 6,000 families in Rizhao use solar cookers in their kitchens. During the fallow months, a transparent, biodegradable film is used to cover approximately 470 million square meters of the city's farmland to allow for an increase in the land temperature and faster maturation of crops in the spring. The city is also home to more than 560,000 square meters of solar photovoltaic panels, which have effectively reduced conventional electricity usage by 348 million kilowatthours per year.

More than 15,000 residential units in Rizhao use technologies that allow them to generate marsh gas from agricultural waste water, with the units capable of generating up to 230,000 cubic meters daily. Currently, the city's annual marsh gas production is 4.5 million cubic meters, which replaces the use of some 3,100 tons of coal annually. Installed marsh gas power generators have a total production capacity of 13,500 kilowatthours, which would reduce the use of coal this year by 36,000 tons.

Mayor Lizhaoqian and his team note that one of the key challenges for China is finding solutions to develop and rapidly scale up the use of sustainable, clean energy. Speaking of China's economic advancement, he articulated that, "to maintain a high growth rate of the economy, restriction by energy and environment is nowadays an inevitable problem in China. Therefore, it has been an important task during the economic and social development in China to search for new energies, develop energy efficiency technologies, reduce environmental pollution, and build a resource-saving society."

According to the WCEA presenters, Rizhao's many achievements highlight the great potential for government policy and legislation to achieve major changes in the energy sector in a relatively short period of time. Upon receiving the award, Mayor Lizhaoqian said it was "a great honor and encouragement for our work.... Winning the award enhances our confidence and determination to make more efforts on clean energy, and it will have significant and long-term influence on the popularization and utilization of clean energy in our city." He noted that his administration will continue to explore new approaches to popularize and utilize clean energy, in an effort to build Rizhao into "an eco-city featuring energy efficiency, sound ecology, and a beautiful environment."