Zevi three initiatives to promote business is turning
Zevi three initiatives to promote business is turning
Core Tip: The new CEO of LDK of Tong Hing snow on the reporter said, LDK not much debt pressure, but also through the introduction of a strategic partner, active contraction and professional integration of three initiatives, in 2013 the company will strive to achieve deficits earnings.
Exclusive: LDK LDK "self-help" early bear fruit this year or profitability
The LDK Solar Conditional CDB 400 million yuan of special loans
The Xinhua 08 network Nanchang, February 26 (Reporter Sun Weiwei, Linyan Xing, Liu Bin) deep debt crisis has been overwhelming media stir over Zevi go from here? Real SinoVideo in the end is what? Zevi new chief executive Officer Tong Hing snow, told reporters that the LDK not too much pressure on the debt, but also through the introduction of a strategic partner, active contraction and professional integration of three initiatives, in 2013 the company will strive to achieve profitability.
Q: How can Zevi deficits emboldened
January 21, LDK Solar to a company called FulaiInvestments new issue of 17 million ordinary shares, raising $ 31,110,000, the issuance price per share of $ 1.83. This is the industry's deemed capital market financing function recovery.
Since the second quarter of 2011, LDK has six consecutive quarters of losses. However, after a $ 560 million net loss peak in the fourth quarter of the year, the company losses decreased to the third quarter of 2012, net loss decreased to $ 85.79 million. It is expected that the LDK the LDK2012 last quarter losses will be further reduced. Close to LDK Solar's core management sources said, 2013 will "stop, breakthroughs, the development of the" three steps to achieve deficits and increase surpluses. As a first step, the company will stop with a 1-2 quarter time.
The issuance of shares, the price of $ 1.83 per share is a deep debt crisis Zevi LDK2012 October to $ 0.86 per share to the new energy of HRH additional 19.9% stake in the second equity financing since. Zevi also met with Daxin Materials, Oak shares, Qianjiang Industrial enterprises through the sale of assets and other ways to cooperate, its share price has risen to $ 0.71 before the issuance of the HRH new energy January 24 $ 1.87, during the once Mogao to $ 2.32.
Insiders said that the LDK stock prices rebounded and the latest deal, the company resumed its financing in the capital markets function, and its series of "self-help" measures and the State "photovoltaic New Deal" to form a resonance has achieved initial success, the Company's operations are slow incremental recovery, market confidence. According to reports, in 2012 the peak Zevi each month to be repaid to the bank interest, more than 100 million yuan RMB , while its monthly interest payments only 3,000 yuan.
Has announced the LDK the LDK2012 third quarter results showed that when the quarter wafer shipments of 230.2 MW and cells and modules shipments of 161.9 MW, net income was $ 291.5 million, from the previous quarter an increase of $ 056.1 million; gross loss of $ 32.5 million, compared with the previous quarter's $ 92 million decreased significantly. Meanwhile, this quarter, the company also inventory provision of $ 37.8 million, if this part of the amount minus the third quarter, LDK practical to achieve positive gross profit.
The development of the photovoltaic industry by the impact of bank credit. Reporters learned exclusively, in the case to meet the pre-conditions, LDK Solar Hi-Tech Co., Ltd. will receive the National Development Bank, more than 400 million yuan loan, used in of its overhaul subordinates silicon plant material cold hydrogenated transformation. The transformation is complete, Zevi silicon material production costs will be reduced to less than $ 20 per kilogram, expected to be restarted, and strive to separate listing.
Jiangxi Branch sources close CDB, the CDB on this loan is a pre-condition, and has not been paid in place, the future will be in the appropriate market prices under the conditions given to LDK Solar, in order to ensure that the cold hydride transformation in place profit after the company won. Insiders said, Even so, this loan is approved for the first time since the 2011 CDB Zevi new loans, the amount of new loans in China's banking sector since the 2012 one of China's photovoltaic industry. This indicates that the Chinese banking institutions Zevi even Chinese PV industry is gradually restored confidence.
A source close to the sources of Xinyu City senior Zevi is the of Xinyu City's pillar industries, local government Next LDK's support is expected to further increase, LDK will not fall because of debt problems, the government helping race dimension does not exclude any possibility, but will follow the market-oriented measures.
LDK Solar has two overseas enterprises, each holding a German company sunway70% stake and the U.S. company SunPower 70% stake. Tong Hing Snow said these two enterprises operating in good condition, they will be the window of the LDK in Europe and the United States.
The development of the photovoltaic industry by the impact of bank credit. Reporters learned exclusively, in the case to meet the pre-conditions, Jiangxi LDK Solar Hi-Tech Co., Ltd. will receive more than 400 million yuan loans to the State Development Bank, used for of its overhaul subordinates silicon plant material cold hydrogenated transformation. The transformation is complete, Zevi silicon material production costs will be reduced to less than $ 20 per kilogram, expected to be restarted, and strive to separate listing.
I note the statement regarding the transformation to cold hydrogenation is complete. I note strong support as well. I can only presume by partial State ownership, the financial health is more-so assured/supported - in some fundamental way such that CDB loaned monies to complete poly transformation.
These Chinese articles tend to be glimpses and occasionally, follow through with company statements follows. About all that can be done is to try to correlate to facts. Rising ASP, Gov't assistance, Blurbs about patents and FBR.