China Sunergy delays 1Q results, shares slide

China Sunergy delays release of 1Q financial results by 2 weeks, says data isn't ready

Associated Press

NEW YORK (AP) -- China Sunergy Co. shares slid Tuesday after the Chinese solar company said it's delaying the release of its first-quarter results by two weeks because it isn't done compiling financial information.

China Sunergy will release results on July 1 rather than June 17.

Like other solar companies, China Sunergy has struggled in recent years amid tough competition and declining prices. Over the past three years, the company's shares have lost about 82 percent of their value.

In morning trading, China Sunergy shares fell 10 cents, or 5 percent, to $1.82.

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