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LDK Solar Co., Ltd. Message Board

china_s2 55 posts  |  Last Activity: 15 hours ago Member since: Nov 7, 2007
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  • According to FINRA, ABAT's short interest was just 18,579 shares as of 31 December, down over 63% from the 15 December number of 50,458.

  • For those interested, thought I'd post some production numbers for Ohio shale gas producers. These figures are derived from quarterly operating data published by the Ohio Department of Natural Resources, and may be obtained freely from their site. Production figures below represent averaged Mcf per diem. 4th Quarter 2014 isn't yet available, but should be sometime in February.

    Period Wells Mcf/Group Mcf/Well
    1Q13 80 92,181 1,152
    2Q13 139 165,551 1,191
    3Q13 234 365,575 1,562
    4Q13 335 468,748 1,399
    1Q14 416 748,155 1,798
    2Q14 501 975,854 1,948
    3Q14 673 1,434,972 2,132

  • Reply to

    Looks like more govenment support

    by chaz7342 Jan 8, 2015 9:49 PM
    china_s2 china_s2 Jan 9, 2015 2:38 PM Flag

    It would appear that the reports of LDK's demise are much exaggerated (at least with respect to their Chinese opreating entities).

    Notwithstanding that they managed to stiff all their offshore noteholders, and their U.S. ADR shares need a stepladder to stay up on a dime, the Xinyu government (and, presumably, the China Development Bank, amongst others) is evidently STILL propping up the corpse. I see this week that they announced the completion of their hydrochlorination facility, so either they're going to resume production, or that particular, government-supported "winner" is merely an ongoing public works project to assure full employment in Jiangxi.

  • Reply to

    Looks like more govenment support

    by chaz7342 Jan 8, 2015 9:49 PM
    china_s2 china_s2 Jan 9, 2015 11:30 AM Flag

    "The article posted by Chaz seem to be relaxing or redefining these restrictions. Is that correct?"

    To be perfectly honest, I'm not sure. I'm always very cautious about numbers from Chinese articles rendered by "Googlish"; I've seen some very conspicuously incorrect placement or omission altogether of decimal points, particularly. In Chaz's article for example, a peasant digging in a hillside could likely produce more than 90 tons annual production, so I suspect the original Chinese was 90,000, and the Chinese "thousand" character ignored by the translation engine.

    If you look through articles on the subject (small mine regulation / closing) on the China Coal Resource site, you'll find a number of pieces on the subject from 2011 forward; many provinces mention either 60,000 or 90,000 tons annually as the lower benchmark, so I'm guessing that was the case here, as well.

    Just based on my own observation, it appears that Chinese provincial, or even local, officials exercise a considerable amount of autonomy, regardless whether it''s intended to be that way by the Central government. I recall a couple of years ago that the Central government was trying to let market forces take their course to thin out the photovoltaic industry, but local officials particularly persisted in propping up otherwise-untenable firms, until we eventually saw the result-companies like Suntech and LDK literally bankrupted overnight. Seems to me that controlling the provincial and local governments is akin to herding cats.

  • Reply to

    Looks like more govenment support

    by chaz7342 Jan 8, 2015 9:49 PM
    china_s2 china_s2 Jan 9, 2015 10:13 AM Flag

    Here's a similar article from around this time last year regarding mine consolidation efforts in Shaanxi (from "China Coal Resource" English site):

    "Northwestern China’s Shaanxi province would shut down more small coal mines, while placing stricter restrictions on approving new coal mines and capacity expansion, media reported, citing the provincial government.

    All the small coal mines that fail to meet relevant government requirements would be closed, according to a statement released by the provincial government.

    This would include small coal mines that have annual production capacity below 90,000 tonnes and fail to meet safety standards, or are ordered to suspend for rectification but continuing production, or expand operation into areas unapproved by the government.

    Some mines that have been suspended for rectification since 2011 but still fail to meet relevant standards by June 2014 would also be closed.

    Furthermore, consolidated coal mines that fail to finish technical upgrading within the specified deadline will be closed.

    Shaanxi would also implement stricter restrictions on approval of new coal mines from 2014. All coal mines with production capacity lower than 300,000 tonnes per year will not be approved by the authority, and those with coal and gas outburst should have a production capacity of 900,000 tonnes and above."

    Note that "coal and gas outburst" refers to a phenomenon wherein coal, rock, and gas are expelled at great force by a combination of gas pressure and tectonic stresses in the coal / rock strata, a distinct process from a pyrotechnic explosion of gas or coal dust.

    In this context, the article reads more like a risk-benefit formula to limit exploitation of outburst-prone seams to those offering very high productive potential.

  • Reply to

    Patience

    by powerfade69 Jan 5, 2015 11:54 AM
    china_s2 china_s2 Jan 5, 2015 1:10 PM Flag

    Well, their 10-K for 2014 is due either on 16 March or 31 March, depending on whether they're still held to be an Accelerated Filer or are now on the "Standard" (non-accelerated) filing calendar.

  • china_s2 by china_s2 Jan 2, 2015 3:12 PM Flag

    Happy New Year, all!

    I see that the 2015 edition of the Consumer Electronics Show is scheduled to open next week (6 January, to be precise).

    Highpower International (HPJ) has already announced their attendance (South Hall 4-booth 35621).

    Anyone know where ABAT's booth might be?

  • The SEC revoked China Integrated Energy (CBEH) effective today (see Release 34-73917). According to the release, CBEH did not file a petition for review of the initial decision of 3 November.

  • Reply to

    SCOK Discussion

    by eagles_forever Dec 17, 2014 11:45 AM
    china_s2 china_s2 Dec 19, 2014 3:08 PM Flag

    Well, I wish you the best of fortune; I like to see everyone making money.

    To be candid, this really isn't my cup of tea as a potential investment (nothing to do with SCOK-I'm just not that keen on commodities stocks any more). Nevertheless, I do have a certain amount professional curiosity as to their process, and will be following it for that reason. In fact, if I have the opportunity, I'll make an effort to participate in their CC; I have a handful of questions regarding their available coal stocks, rate of production, calorific value of product, etc..

  • Reply to

    Million Plus shares today??? Wow!

    by josephfrank Oct 17, 2014 11:28 PM
    china_s2 china_s2 Dec 19, 2014 2:56 PM Flag

    I'm curious. The company hasn't communicated anything-no financials, no press releases, nothing-for two and one half years.

    The absolute last piece of information they released was a notice that their CFO had resigned.

    Evidently they've not given you any response whatever to e-mail requests, even to the extent of telling you to go pound sand.

    I don't see any evidence of their continued existence, here, much less support for an assertion that "The Co. is doing very well".

  • Quite a bit of activity at the SEC this week.

    In the Accounting and Auditing department, Baker Tilly Hong Kong Ltd was sanctioned for failing to discover "red flags" in audits of China North East Petroleum (CNEP, revoked 5 April 2013). See release 34-73862. Also, Avon Products Inc. settled an action arising from violation of the Foreign Corrupt Practices Act for bribery (and failure to maitain internal controls to prevent it) in China (Release LR-23159).

    Asia Cork, Inc., and Kangye International Holdings, Inc., were revoked for filing delinquencies, bringing the 2014 total of Chinese firms revoked to 45 thus far.

  • Reply to

    SCOK Discussion

    by eagles_forever Dec 17, 2014 11:45 AM
    china_s2 china_s2 Dec 18, 2014 5:11 PM Flag

    Correct me if I'm wrong, but SCOK is on a non-calendar fiscal year, are they not? If my understanding is correct, their second fiscal quarter is the 1 October-31 December period, which would leave them filing their 10Q not later than 14 February of 2015. In other words, we should see something more substantial than some PR's well in advance of March options expiry.

    In their 26 November PR, they represented that the above-ground facility was operating at 100%, producing 25,000 m^3 of gas per hour, which was selling for $0.139 / m^3. Assuming that they continue to run through the end of the quarter at a capacity factor of 1, they should produce 21.6 million m^3 of gas in that time. Revenues should be $3,002,400, and, based on their margin estimates, gross profit should be $1,351,080 to 1,501,200.

    If the 10Q reflects that (or better), I'd imagine you'll see the PPS increase. If they miss, or equivocate on the operating results of the above-ground facility, I expect it will go the other way.

  • Yet another extension of time in the above-styled action filed yesterday (see SEC release 34-73838). The briefing schedule is pushed back "...approximately 70 days...", with the Big Four respondents' consolidated opening brief now due on 26 February, 2015 (had been due on 18 December 2014).

  • china_s2 china_s2 Dec 15, 2014 5:07 PM Flag

    if any doubts remained regarding Peng's ultimate intention for SOPW, this sentence:

    "The shares are being offered and sold solely to non-U.S. investors, on a private placement basis in reliance on Regulation S promulgated under the U.S. Securities Act, as amended."

    should remove them. To all appearances, Peng's goal is to dilute U.S. shareholders out of SOPW altogether.

  • china_s2 china_s2 Dec 10, 2014 3:40 PM Flag

    I'm wondering whether it may just be a problem with the PRC's PTO site.

    I tried to run several searches there today (nothing to do with LDK) and repeatedly got an error return, regardless what search terms I used (e.g., known application number, company, applicant, title, etc.).

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