Several solar panel companies are in the headlines once again, led by an news that bankrupt former superstar Suntech (NYSE: STP) is nearing a reorganization that will cost its stockholders most of their money. While that may sound bad, I personally don’t have much sympathy for anyone who continued to hold Suntech stock after the company started experiencing major problems about a year ago. Meantime, the news is a bit more positive for rivals Yingli (NYSE: YGE) and Renesola (NYSE: SOL), which both reported narrowing losses as outlook for the sector continues to improve with stabilizing and even rising prices for solar panels. Read Full Post…
Tag Archives: Yingli
News Digest: August 31-September 2
The following press releases and media reports about Chinese companies were carried on August 31-September 2. To view a full article or story, click on the link next to the headline.
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- Rising Panel Prices Brighten Yingli (NYSE: YGE), ReneSola (NYSE: SOL) Outlook (English article)
- Jingdong Halts Cooperation with Alipay, Sina (Nasdaq: SINA) Weibo (English article)
- US Cinema Chain AMC Entertainment Files For $400 Mln IPO (English article)
- China Fines Everbright A Record $85 Mln For Stock Market Chaos(English article)
- Suntech (NYSE: STP) Announces Developments In Restructuring Process (PRNewswire)
Canadian Solar, Suntech Feel More Heat
The latest news from Canadian Solar (Nasdaq: CSIQ) and Suntech (NYSE: STP) is casting a shadow over a nascent recovery for the embattled solar sector, as each company struggles to fix its broken finances pummeled by a two-year downturn. Canadian Solar has announced a plan to raise up to $50 million through a stock sale, while domestic media are reporting that bidding for bankrupt Suntech is moving ahead quickly, indicating the end may be near as an independent company for this former solar high-flyer. All this shows that investors shouldn’t get too bullish on solar companies just yet, even as Canadian Solar says it is still on target to post a profit for all of 2013. Read Full Post…
Solar Friday: Yingli, Trina Jump, Mull Suntech Bids
I’m officially calling today “Solar Friday”, as we’re getting bombarded with a sudden flurry of news that shows the sector is rebounding and could also see its first major merger. In the former category, earnings updates from Yingli (NYSE: YGE) and Trina (NYSE: TSL) are showing steady improvement for the embattled panel-making sector, while a quarterly report from Canadian Solar (Nasdaq: CSIQ) is showing the sudden improvements may already be starting to plateau. In the latter category, Chinese media are reporting that both Yingli and Trina are also showing interest in investing in Suntech (NYSE: STP), the former solar panel pioneer that is now in bankruptcy reorganization. Read Full Post…
News Digest: August 9, 2013
The following press releases and media reports about Chinese companies were carried on August 9. To view a full article or story, click on the link next to the headline.
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- Trina (NYSE: TSL), Yingli (NYSE: YGE) Among Bidders For Suntech – Source (Chinese article)
- Canadian Solar (Nasdaq: CSIQ) Reports Q2 Results (PRNewswire)
- Tencent’s (HKEx: 700) 51Buy Adds Delivery Tracking Feature to Mobile App (English article)
- Youku Tudou Announces Q2 Financial Results (PRNewswire)
- Sanofi (Paris: SAN) Says Taking China Bribery Claim ‘Seriously’ (English article)
- Latest calendar for Q2 earnings reports (Earnings calendar)
ReneSola Offers More Bright News
More good news is coming from the battered solar panel sector, with mid-sized player ReneSola (NYSE: SOL) sharply boosting its revenue and margin forecasts for the current quarter in the latest sign of a sector rebound. ReneSola isn’t forecasting a return to profitability just yet, but the latest signs do seem to indicate the sector’s strongest players could return to the black by the end of this year if current trends continue. Some could also interpret this upbeat news as reflecting growing confidence that the EU and China could soon reach an important compromise that would prevent the former from imposing anti-dumping tariffs on Chinese solar panels. Read Full Post…
China Hits Back At EU With Wine Probe
China is quickly learning how to play the game of tit-for-tat trade wars, with news that Beijing has launched a new anti-dumping probe against wines imported from the European Union. Anyone who has followed recent China-EU trade relations will know, of course, that announcement of this new probe by the Commerce Ministry comes the same day that the EU formally announced anti-dumping tariffs against imported Chinese solar panels. Read Full Post…
Canadian Solar Gets State Financing
China’s struggling solar panel makers must are slowly transforming into de facto state-owned enterprises as they take increasing loans from Beijing, with Canadian Solar (Nasdaq: CSIQ) becoming the latest to take a handout from the policy lender China Development Bank (CDB). If Beijing is trying to convince Europe and the US that it’s not unfairly supporting its solar sector, then this certainly isn’t the way to do it. But that said, I doubt that Canadian Solar or many of its peers could get financing to maintain their operations from any true private sector banks right now, as the future remains unclear for most due to their precarious financial positions. Read Full Post…
News Digest: May 31, 2013
The following press releases and media reports about Chinese companies were carried on May 31. To view a full article or story, click on the link next to the headline.
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- AIG (NYSE: AIG), PICC (HKEx: 2328) In Agency Distribution JV (Businesswire)
- American Public Wary of Chinese Foreign Direct Investment – Report (Businesswire)
- Shanda Deals Blow To Tencent’s (HKEx: 700) Online Literature Drive (Chinese article)
- Toyota (Tokyo: 7203) To Make Batteries In China As Nation Warms To Hybrids (English article)
- Yingli Green Energy (NYSE: YGE) Reports Q1 Results (PRNewswire)
Traders Feed On Solar Rumors
Solar stocks that were once a darling of bullish investors and green energy enthusiasts have found a new patron in short-term traders, who are feeding on the sector’s high volatility. That’s my main conclusion after seeing a huge surge in the shares of many solar stocks despite any major positive catalyst. This surge is one of the biggest I’ve seen this year, but is certainly not the only time that most solar shares have risen or fallen by more than 7 percent on a single trading day on little or no major news from the sector. Read Full Post…
News Digest: May 22, 2013
The following press releases and media reports about Chinese companies were carried on May 22. To view a full article or story, click on the link next to the headline.
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- China’s MIIT to Issue TD-LTE Licenses to All 3 Telcos – Source (English article)
- Temasek Buys 280 Mln ICBC (HKEx: 939) Shares, Owns 7.04 Pct of Bank (Chinese article)
- No ‘Active’ US-EU-China Solar Talks Under Way: USTR (English article)
- Bob Lutz, Chinese In Bid To Buy Fisker Automotive – Sources(English article)
- Yingli Green Energy (NYSE: YGE) Announces Preliminary Q1 Results (PRNewswire)
