CSIQ had 2700MW of cell capacity in H1 2016. They are adding 1200MW in H2 2016. Best case scenario is they have lost 30% of their cell capacity worst case nearly 50% of their cell capacity. I see no way that this does not have a material impact. Yes they can try and squeeze extra production out of the other CN plant and try and ramp Malaysia faster but the rest required is likely 80% of the lost capacity that will be higher priced outsourced cells.
The pictures and videos of the area show massive devastation and destruction Those that have died may the rest in peace. Those that are injured may they get well, those that are still missing, may they be found in good health.
I will add that there are concerns that there may be other bankruptcies in the near future and that these may require writedowns on the AR again as well as the project sales in China being lower due to lack of FIT.
forward guidance is week on ASP and margins. Suggestion f 5-10% ASP drop and continued internal costs drops and hope to get outsourced costs down. Also concerns of over capacity and that US demand for rooftop in California is down 22% indicating a slowing in US major markets. Trina is looking at the US to pick up the couple hundred MW shifted out of Project developement