I wrote earlier this week about troublesome signs for the solar panel sector’s fledgling recovery after a revenue warning from Trina (NYSE: TSL), and now we’re seeing another worrisome signal with news that Yingli (NYSE: YGE) is launching a new fund to build solar power plants. This kind of scheme looks eerily similar to one that kicked off the downfall of former industry leader Suntech (NYSE: STPFQ), though there are also a few differences. Still, Yingli’s latest move signals that the industry may not have learned its lesson from the Suntech debacle. Read Full Post…
Asset seizure casts new clouds over Suntech retrench
Someone should write a book about solar panel superstar Suntech (NYSE: STP), whose the incredible rise and spectacular fall has taken yet another intriguing twist with word that some of its major assets have been seized by a court in Italy. The Italian angle is just the latest turn in this international story of a company founded by an Australian-educated Chinese engineer, which once look set to revolutionize the solar energy sector, only to be forced into bankruptcy when the sector plunged into a massive downturn. From a more practical perspective, I suspect this latest development will prolong Suntech’s bankruptcy reorganization, since its creditors may have been hoping to liquidate these Italian assets to repay some of the company’s massive debt. Read Full Post…
The following press releases and media reports about Chinese companies were carried on August 15. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Mongolia-Focused Miner SouthGobi (HKEx: 1878) Expects Chalco to Drop Takeover Bid (English article)
Mengniu (HKEx: 2319) in Buyout Talks With KKR-backed China Modern Dairy: Report (English article)
Jingdong Mall to Maintain Zero Gross Profit on 3C for 3 Years (English article)
