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Yingli Green Energy Holding Co. Ltd. Message Board

  • smoothinvestorguy smoothinvestorguy Mar 6, 2008 11:47 AM Flag

    Slowdown In Spain Was Confirmed...

    I emailed YGE's biggest customer regarding rumors that YGE is experiencing a slowdown in Spain, which happens to be YGE's biggest market. Here is the response I got...

    Dear Ricco,

    The photovoltaic sector in Spain is passing through an uncertain period because the definitive price for photovoltaic electricity is not decided yet by the government for the following years. That is what has made installers concentrate all their orders in the first half of the year, so they can perceive the actual price. A lowering down of the price is expected. The question is how much will it be lowered. Nevertheless, a policy that still will support the sector is expected, in accordance with the European Union objectives for year 2020.

    In the other hand, Yingli knows this situation in the Spanish market and is concentrating their production for the SECOND half of the year for other emergent countries like Italy, Greece, France (and obviously Germany).


    Regards!


    Looks like Credit Suisse was correct. And this also explains why BoA downgraded the shares.

    I'd be a buyer in the $13's, but wouldn't buy here. Too much uncertainty surrounding solar stocks.

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    • by some analysts. My sources tell me that a couple analysts are questioning the "quality" of YGE's revenues due to extending easy credit to customers and getting very small downpayments. YGE is assuming alot of risks if customers default on their contracts.

      I'm not here bashing the stock. I'm just passing along my research as I am looking to invest in solar stocks.

      Fwiw, Morgan Stanley appears to be one such company who is coming out negative on YGE.

      I'm looking to establish a long position in YGE, but will wait to see if it hits the $12-$13 range before going long.

      I'd stay on the sidelines for now. My email confirmed orders are slowing down in Spain and now I've learned that DSO's are way up and credit issues could affect YGE negatively.

    • Old news, but the email I got today and posted here does confirm this...

      "Banc of America downgraded YGE shares on difficult fundamentals as they believe solar industry gross margins will continue to contract due to silicon competition and decelerating demand in Spain and Germany. Target lowered to $18 from $40."


      I'm looking to go long, but will wait until the gap is filled in the $12-$13 range.

 
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