Thursday, November 22, 2007

Trina Solar 3Q Profit Rises

Trina Solar 3rd-Quarter Profit Up on Shipments to Europe, Margins Fall on Costs and Pricing
November 21, 2007: 08:58 AM EST

NEW YORK (Associated Press) - Trina Solar Ltd. said Wednesday its profit skyrocketed in the third quarter on higher shipments due to strong demand in Europe.

Net income rose 86.8 percent to $7.2 million, or 28 cents per American Depositary Share (ADS), from $3.9 million a year earlier. The company did not have outstanding ADS in the year-ago period.

Revenue rose sharply to $82.6 million from $32.4 million.

Analysts polled by Thomson Financial expected better earnings of 34 cents per ADS on revenue of $80.8 million, on average.

The solar-products company's shares dropped $6.98, or 14.3 percent, to $41.90 in premarket trading. They closed at $48.88 on Tuesday.

Trina Solar shipped solar modules with 21.2 megawatts of annual generating capacity, more than double the 8 megawatts worth of products it shipped out a year earlier. Sales in Germany, Spain and Italy accounted for 96 percent of revenue.

But because of lower average selling prices and high costs for polysilicon, a key component in solar products, gross profit margins fell to 20.1 percent from 26.2 percent.

Total operating expenses more than doubled to $9.7 million.

Deep Research Report on China Solar Cell Industry 2007

( - According to 2007 deep research report on China solar cell industry data. 2006 China Solar Cell Shipment was 400.9 MW, Increased 237.74% than 118.7MW in 2005, and hopefully reach 1021.5 MW in 2007,increase 154.8% than 2006.

About the revenue: 2006 China Solar Cell revenue was 1251.4 Million USD, Increased 264.5% than 343.3 Million USD in 2005,and hopefully reach 3188.6 Million USD in 2007,increase 154.8% than 2006.

About selling price: 2006 China solar cell selling price is 3.12USD/W increase 8% than 2.89USD/W in 2005; while 2007 keep the same as 2006. the price will slowly dropping since 2008.

About utilization: the total solar cell utilization of China is 27.36 in 2005, 34.24% in 2006, about 41.61% in 2007, 76.99 in 2012; the low utilization during 2005 and 2006 mainly because the following two reasons: first, the expansion of solar cell manufacture capacity is too fast; second, the shortage of solar cell raw material (wafer or polysilicon) is serious.

About the net income margin: compare almost all the company owned good income in 2006; 2007H1 situation is not good, some companies lost, some company got low net income Margin, these situation mainly because slow increasing demand of downstream and serious Competitive of solar cell industry in China.

About the solar cell equipment: more and more China local equipment manufacturers owned solar Cell orders from cell companies, but key equipment such as diffuse PECVD 6. Firing Screen-Printing etc mainly from oversea equipment suppliers. Import equipment value is almost twice as local equipment purchase value. But as the local equipment grow better in the coming days, more and more clients will select local equipment as their low price and easy do after sale service.

About raw material: shortage of wafer and polysilicon is the important reason cute the low Utilization, what is more this also cute the whole net income margin go down, anyone who own good raw material supplement (such as Hebei JA Solar) can make excellent net income while others will face serious pressure if raw material supply is bad.

About downstream demand: more than 50% companies are produce cell and module, almost all their cell will use for their own module, not sales to others directly. Some cell only manufacturers are also sell their products to local clients directly, there are only 3% of China solar cell sell to the oversea clients directly in 2006 and 2007. though module capacity is bigger than cell capacity, but some module product line mainly OEM for some Japanese solar cell companies(such as Sharp solar and Kyocera solar), except these OEM Manufacturers, solar cell and solar module keep a good relationship and develop with the same step. So cell demand from module keep a good balance.

In a word, solar cell capacity shipment revenue all keep a high speed increase, their average increase rate more than 40%, higher than that of global market, though their selling price and net income margin are going down, but to the large scale manufacturer or good raw material supplement companies, their orders are good. as market demand increase going down, some companies go into lost and low net income margin, some of them maybe bought or combination. But the key situation of solar cell industry is capacity expansion and looking for low cost material. Solar energy as a renewable energy and lots of downstream product applications (such as solar lamps) it will keep good demand no matter today or in the future, what is more, solar energy business will enter a very good future as it is one of the best renewable energy instead of traditional energy.

Deep research report on China solar cell industry 2007 is a report mainly introduce China solar cell industry chain, the report included solar cell upstream industry contents as : wafer or polysilicon raw material sources, Furance (diffuse PECVD Firing screen-printing), sources and quantity. Solar cell industry contents as : Solar cell supply shipments sales demand price revenue net income capacity and capacity expanding information, equipment information of manufacturers etc ; downstream clients contents as: market demand of solar cell, downstream clients by manufacturer, regional revenue and market share etc. Through the detail survey and research of the whole solar cell industry chain, the report can show a deep and excellent introduction about China solar cell industry and will fit for investor marketing and strategy planning of the company.

China Solar Grade Wafer Or Ingot Industry Research Report 2007

(PRLog.Org) – Nov 20, 2007 – According 2007 China solar grade wafer or ingot industry research report data, 2006 China Solar Silicon Wafer Shipment was 399.4 MW,Increased 177.6% than 143.9MW in 2005, and hopefully reach 927.6 MW in 2007, increase 132.2% than 2006.

Though It was a rapid growth of Solar Wafer Shipment. It was less than its downstream solar cell Increasing. Thus cute the continue shortage of Solar wafer, what is more, due to the increasing price of Polysilicon and shortage of wafer, wafer selling price increase to 2.25 USD/W in 2006 from 2.15USD/W in 2005. and 2.38 USD/W in 2007H1,we estimate the trend will continue in 2007H2 and the ASP of 2007 will reach 2.40USD/W.

About the supply and demand, the shortage of wafer is 16MW in 2005, 140 MW in 2006, and will expand to 180MW in 2007,according 《2007 China solar grade wafer or ingot industry research report forecast》, 2008 and the coming years will continue short of wafer. However, Solar cell module price will continue decrease in the coming years, so that will bring some price Decrease (not large) of wafer.

As the continue shortage of wafer and great increase of downstream demand, more and more investor enter wafer industry and the wafer manufacture also expand their capacity rapidly. Though capacity expanding is easy, wafer shipment increase is not easy as the continue shortage of polysilicon.

2006 solar multi crystal silicon wafer shipment was 110MW,while single crystal silicon wafer shipment was more than 280MW, single crystal silicon wafer is a lot more than multi crystal silicon wafer shipment, it is great different than then the international situation as multi crystal silicon wafer shipment almost twice of single crystal silicon wafer shipment. China local single crystal silicon wafer was 2.7 times of multi crystal silicon wafer shipment. The most important reason of this situation is single crystal silicon wafer is easy manufacture than multi crystal silicon wafer as the key equipment pulling machine is easy bought in China with a low cost while multi crystal DSS furnace only can buy from oversea market with a high cost, but this situation will change in 2012, according 2007 China solar grade wafer or ingot industry research report forecast,2012 China local multi crystal silicon wafer shipment will be 1.5 times of single crystal silicon wafer shipment, the change mainly due to some very large multi crystal wafer projects and downstream clients demand as multi crystal silicon wafer is cheap and good enough.

2006 China wafer revenue was 899 million USD, increased 191% from 309 million USD in 2005. while 2007 revenue will increase 148% reach 2226 million than 2006, and it will keep a high increasing rate in the coming years. About utilization, Due to the polysilicon shortage, total utilization of China wafer less than 50% though the downstream demand is large. The Utilization will increase step by step in the coming years and will reach 60% or so according the forecast from 2007 China solar grade wafer or ingot industry research report.

China as the biggest solar cell manufacture base, Most of wafer were sold to the local clients, but also has about 20% sells to the oversea market, Taiwan is the biggest sells region in the oversea market, Europe Union,USA,Kore,Japan also have some demand. about Rae materials, as polysilicon shortage and most polysilicon manufacturer order are full till the end of 2008, so, almost all the raw materials were from renewable material or high price spot market polysilicon. Some large and famous manufacturers (such as Jinglong LDK Yingli Solar Trina Solar etc) signed some long term polysilicon supply contracts, but most of the contract can not supply polysilicon before 2009. so revewable material and high price spot market polisilicon will be the major raw material in China local wafer industry. By the way, almost all Wafer manufacturers net income rate is higher than cell suppliers, some companies’net income rate is more than 30%; this bring a lot of new enter as most equipment vendors can offer one stop sales of wafer factory solution. Investors who have capital, downstream clients, and also have relationship with some upstream raw material vendors will enter this industry, in fact, almost all large and big wafer project were occurred during 2005-Aug,2007. and will also some new enter in the coming years. thus the competition of China wafer industry will be serious. Research Team suggest that new enter who owned raw material will own great advantage in the competition.

2007 China solar grade wafer or ingot industry research report is a report mainly introduce China solar wafer industry chain, the report included wafer upstream industry contents as : polysilicon raw material sources. Furance (ingot pulling machine DSS furnace),wire saw equipments (squarers wire saws) sources and quantity. Ingot wafer industry contents as : ingot wafer supply shipments sales demand price revenue net income capacity and capacity expanding information, equipment information of manufacturers etc : downstream clients contents as: market demand of wafer, downstream clients by manufacturer, regional revenue and market share etc. Through the detail survey and research of the whole wafer industry chain, the report can show a deep and excellent introduction about China wafer industry and will fit for investor marketing and strategy planning of the company.

Canadian Solar Announces Agreement with China Sunergy

November 19, 2007: 08:50 AM EST

JIANGSU, China, Nov. 19 /Xinhua-PRNewswire/ -- Canadian Solar Inc. ("the Company'', or ''CSI'') today announced that it had entered into various purchase agreements (the ''Agreements'') last week with China Sunergy Co., Ltd. (''China Sunergy'').

The Agreements with China Sunergy are for a total volume of 25MW of solar cells for 2008. Under the Agreements, China Sunergy will supply approximately 12MW and 13MW of solar cells to Canadian Solar in the first and second half of the year respectively. The Agreements will be denominated in both Chinese Yuan and US dollars, with approximately 24% of the volume being based on fixed pricing terms and the remainder being determined on a quarterly basis.
Commenting on the Agreements, Dr. Shawn Qu, CEO of Canadian Solar, said: "We are pleased to have added China Sunergy to our list of partners, thus continuing to demonstrate the ability of CSI to establish win-win relationships with companies in the solar value chain. This announcement provides further visibility to the supply contracts we already had in place in support of our 2008 business plan. We look forward to working closely with China Sunergy as a part of our long-term supply chain strategy, which includes continued direct purchasing from a selected number of long-term strategic cell suppliers in addition to our internal solar cell production."

Commenting further, Allen Wang, CEO of China Sunergy, added: "Following on from this and the recent agreement with aleo solar of Germany, I am very pleased with our ability to expand sales both domestically and abroad. This latest agreement signifies a substantial development in our relationship with Canadian Solar, one of the leading China-based module manufacturing companies, and is a positive example of how we are developing our high quality global customer base while further enhancing our brand recognition within the industry."

About Canadian Solar Inc.

Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell, solar module and customer-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 .

China Sunergy Announces Commencement of Commercial Production of Selective Emitter Cells

Average Efficiency Rates of 17.5% Achieved From Mass Production Cells

November 19, 2007: 07:44 AM EST

NANJING, China, Nov. 19 /Xinhua-PRNewswire/ -- China Sunergy Co., Ltd. ("China Sunergy") , a specialized solar cell manufacturer based in Nanjing, China, announced today that it has started mass production of its selective emitter cells after successfully commissioning recently arrived production equipment.

Commercially produced selective emitter cells yielded an average efficiency rate of 17.5% during the first few days of mass production.

Prior to starting mass production, China Sunergy achieved 18.2% conversion efficiency on some of its pilot runs in early November.

Commenting on the announcement, Dr. Jianhua Zhao, CTO of China Sunergy, said: "I am delighted that we have managed to develop and commercialize these high-efficiency cells in less than a year, and am confident that as we refocus our R&D resources we will be able to achieve similar success with other high- efficiency cell products. As we continue to optimize our selective emitter cell equipment and technology, I also believe that we should be able to achieve average efficiency rates of 18% on future commercial batches of these cells."

Commenting further, Dr. Allen Wang, CEO of China Sunergy said: "I have always believed in the technological advantage China Sunergy holds and this is strong evidence that our R&D efforts are starting to pay off. We will continue to drive further efficiency from these cells going into 2008 and will be adding an additional four production lines during the second-half of the year, as we look at ways to expand our margins going forward."

About China Sunergy Co., Ltd.

China Sunergy Co., Ltd. ("China Sunergy") is a leading manufacturer of solar cell products in China as measured by production capacity. China Sunergy manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. China Sunergy sells solar cell products to Chinese and overseas module manufacturers and system integrators, who assemble solar cells into solar modules and solar power systems for use in various markets. For more information please visit .