Translation of the story:
"According to local politicians to disclose the "China Business" reporter, if nothing unexpected happens, Suntech, Suntech's core assets will be between March 15 to March 20, the official launch of the bankruptcy proceedings, Wuxi Guolian Development (Group ) Co., Ltd. (hereinafter referred to the Wuxi Guolian, was established on May 8, 1999, the Wuxi Municipal People's Government funded the establishment of investment subject qualification granted to state-owned assets of state-owned enterprises Group) will take over and led after the reorganization, it will Suntech to take full control of the parent company or its industry in the form of investment funds."
Have fun longs...
Sentiment: Strong Sell
Is the original conversion rate being used for the bonds? If so, each bond is probably worth about 60 cents. Or does it mean that the conversion is based upon the closing price of the stock on March 15th?
Here is the different news from Solarzoom, which said WuXi Suntech is not going to bankrupt, but only three other child companies in other places may will be bankrupted. Again, don't know which news is the final decision from STP, make your own judgement, don't trust anybody.
2013-3-9 23:04| 发布者: starryjuan| 查看: 1866| 评论: 0|来自: Solarzoom
I read the news in chinese also, it's actually a good news for the STP investors. From the news, it said it's WuXi Suntech that's going to file bankruptcy, not Suntech Power. Without WuXi Suntech, STP will become a company without much debt. Read the news yourself.
To comment more, i'm not sure if this news from "China Business" newspaper is the final decision or not from STP. I read another different news from Solarzoom that said Wuxi Suntech is not going bankruptcy. Don't know which one is correct now. Make your own judgement, don't trust anybody.
There's some translation problem about the above "chinese news".
The wuxi suntech which is part of stp will go bankrupcy ,not the stp. This method will slow down the debt pressure for stp.
Moreover, after the bankrupcy of wuxi stp, most of stp's business and factories will not be in china, so it will be less affected by the high tax which is only for chinese solar products.
This is in fact good news
That is NOT true. Even if WuXi Shangde files bankruptcy (we do NOT know for sure yet), MOST of STP asset is still Within China, NOT outside China! The factory in the U.S. is small, and MOST of managers in the U.S. can be FIRED, if not already fired. They are the victims of the U.S. protection.