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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

Trina Solar officiel Dato 23. aug


44587 akademikeren 2/8 2011 16:54
Oversigt

De har lige skrevet til mig med ref til denne.

CHANGZHOU, China, Aug. 2, 2011 /PRNewswire via COMTEX/ --

Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic products from the production of ingots, wafers and cells to the assembly of PV modules, announced today it will host a conference call at 8:00 a.m. ET on Tuesday, August 23, 2011, to discuss results for the quarter ended on June 30, 2011.

Joining Jifan Gao, Chairman and CEO of Trina Solar on the call will be Terry Wang, Chief Financial Officer, Mark Kingsley, Chief Commercial Officer, Gary Yu, Senior Vice President, Operations, and Thomas Young, Senior Director, Investor Relations. The Company plans to distribute its earnings announcement before the call.

To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 1(800)884-2382. International callers should dial +1(660)422-4933. The conference ID for the call is 8623-9064.

If you are unable to participate in the call at this time, a replay will be available on August 23 at 10:00 a.m. ET, through September 6 at 11:59 p.m. ET. To access the replay, dial 1(855)859-2056, international callers should dial +1(404)537-3406, and enter the conference ID 8623-9064.

This conference call will be broadcast live over the Internet and can be accessed by all interested parties on Trina Solar's website at http://www.trinasolar.com. To listen to the live webcast, please go to Trina Solar's website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on Trina Solar's website for 90 days.



2/8 2011 19:27 Kristensen 144595



Bliver Q2 regnskabet så aflagt aftenen inden, eller samme morgen som der er "conference call"?

Iøvrigt et par interessante links, hvor de i det link kommer ind på hvorfor aktierne på det seneste har været presset, hvilket vi dog kender grunden til. I det andet kan de fortælle at det vigtige italienske marked har skuffet:

http://seekingalpha.com/article/283801-what-investors..

http://www.pv-tech.org/news/trina_solar_sales_take_fu..



2/8 2011 21:13 akademikeren 044598



ja det er ikke godt at vide faktisk, specielt når en del sider har regnskabet stående som d. 20 . august. Men normalt vil man have CC enten dagen efter eller et par timer efter regnskabsaflæggelse.

Jeg begynder faktisk at blive mere og mere lun på at doble min position op. Men ved ikke om det er rigtigt rigtigt klogt.



2/8 2011 21:30 Kristensen 044599



D. 20 er vist det vi er kommet nærmest, men efter at have tjekket kalenderen, kan jeg se det er en lørdag - så det passer nok alligevel ikke. Men mon ikke det så kommer mandag aften? Der er jo ikke der kan nå at løbe regnskabet igennem og stille spørgsmål, hvis regnskabet fremlægges lige inden CC, når CC allerede er kl. 08.00.

Jeg er ikke gået ind endnu, men efter at have læst ovenstående links, venter jeg til efter fremlæggelse af Q2. Det lyder som om at de ikke helt har når deres målsætninger - alligevel tegner shipmenet volume til at blive deres højeste nogen sinde.

Lidt citater fra links:

"Trina Solar said that module shipments in the second quarter are expected to be in the range of 395MW-397MW, compared to previous guidance of between 430MW-450MW. However, sales guidance was not provided."

"While shipment volumes in the second quarter were our highest ever, sales were adversely impacted by extended slower demand and high industry inventory due in part to recently issued regulatory revisions and reduction in solar subsidies in Italy," commented Jifan Gao, chairman/CEO of Trina Solar. "We expect a significant improvement in production costs and an increase in shipment volumes in the third quarter."

"Trina Solar reiterated that full-year 2011 PV module shipments would still reach between 1.75GW-1.80GW, representing an increase of 65.6%-70.3% from 2010."



2/8 2011 21:38 collersteen 044600



De steder hvor der har stået den 20. har det været "tentative", så det kommer da helt sikkert samme morgen (d.23.) eller aftenen før. Kan du ikke se hvad de gjorde ved q1? og evt. andre fremlæggelser?



2/8 2011 21:39 Kristensen 144601



Og lidt nøgletal for nogle af selskaberne:

Trina Solar, which posted almost 72% compound annual growth rate (CAGR) in its four years as a US listed public company, trades at only 4.4x trailing earnings currently. In more extreme cases, Renesola (SOL), LDK Solar (LDK), JA Solar (JASO) currently trade at 2x, 2.2x, and 2.6x trailing earnings, respectively.

Og en interessant kommentar:

"1W good placed solar panel creates electricity (average)
- 0.86 kwh/y in Belgium (= 860 wh/y)
- 0.94 kwh/y in Germany
- 0.99 kwh/y in France
-1.26 kwh/y in Italy
- 1.58 kwh/y in Spain
- 1.67 kwh/y in California

This means that in Belgium a solar panel has only the possibility to create electricity equivalent to 860 hours/y (one year = 8760 hours )

If a nuclear plant could work every hour of the year (impossible) it would create 8.76 kwh/y with 1W capacity"



3/8 2011 13:18 le 044613



Trina Solar to miss 2Q11 guidance


3 August 2011]


Trina Solar Limited, a China-based solar firm that consists vertical integration
of solar products from the production of ingots, wafers and cells to the
assembly of PV modules, announced that despite record shipments in the quarter
it would not reach its guidance made for second quarter 2011. The company will
officially announce its second quarter results later this month.

Trina Solar estimates its solar module shipments in the second quarter are in
the range of 395-397MW, compared to the previous guidance of 430-450MW.

Trina Solar also stated the gross Margin relating to its in-house wafer
production and module production to be approximately 20% in second quarter 2011,
compared to the previous guidance of mid 20s in percentage terms.

The overall gross Margin will be in the range of 17.0-17.5%, according to Trina
Solar.

Based on its demand outlook for the second half of 2011, Trina Solar reiterates
its expectation for its full year 2011 PV module shipments of between 1.75-1.80
GW, representing an on-year increase of 65.6-70.3%.





3/8 2011 13:27 akademikeren 044615



men med denne, som jeg også tror vi så igår? så kan man jo godt begynde at regne forward p/e og marginer og det ser så temmeligt interessant ud ift. 2010 med 65% vækst også trods dyk i marginerne. Men jeg skal lige sætte mig med et regneark



3/8 2011 17:49 Kristensen 044632



Og lidt mere solar, fra den anden side af atlanten igen i dag.

TSL er nede 6% og flere følger med i samme retning.

The solar sector is getting off to a bad start for earnings season as the economy softens and as the market keeps hurting investors.

I linket kan ses estimater for 2 solaktier, som er regnskabs-aktuelle i denne uge.

Bl.a. finder man First Solar som er aktuel på torsdag, hvor der forventes et resultat på $0.92 EPS og $583.9 million in revenues. Next hvartal er estimaterne $2.86 EPS og $1.08 billion in revenues.

http://247wallst.com/2011/08/03/earnings-previews-sol..




3/8 2011 18:50 akademikeren 144633



Vi har udarbejdet en trading note på baggrund af opdatering/nedjusteringen 2. august.

http://www.proinvestor.com/aktieanalyser/93/TradingNo..



5/8 2011 17:36 Kristensen 044734



First Solar skuffer markedet for 2. kvartal.

First Solar rapporterede for andet kvartal 2011 en indtjening pr. Aktie på 70 cent, hvilket er betydeligt under Zacks konsensus skøn på 93 cent og i forhold til samme kvartal for et år siden på $1.33 pr. Aktie. Nedgagnen afspejler fortsat lavere gennemsnitlige salgspriser og øget investering i Utilities systemer, forskning og udvikling.

Omsætningen endte på $532.8 millioner, mod $587.9 millioner for et år siden. Omsætnigen blev negativt påvirket politik usikkerhedsmomenter i Spanien, Italien, Tyskland og Frankrig.

Andet kvartal bruttoavance var 36,6%, mod 48.3% i andet kvartal 2010. Samlede driftsudgifter for kvartalet steg 25,7% til $130.3 millioner. Samlede nettoindtægter landede på $61.1 millioner, langt under sidste år på $159 millioner.



5/8 2011 17:38 Kristensen 044735



Glemte link for flere specfikationer omkring regnskabet:
http://www.zacks.com/stock/news/58515/First+Solar+Dis..



5/8 2011 19:16 Kristensen 144741



Shares of TSL fell by 1.19% or $-0.18/share to $14.89. Trina Solar Ltd. is trading at a price to book ratio of 0.87. This indicates that the Value of the company's underlying assets exceeds today's market price. The PEG is 0.29 suggesting that the shares are trading at an excellent Value relative to firm's growth rate. The price to sales ratio came in at 0.51. Hence, the firm is extremely cheap relative to its top line sales figures. On average, 3112870 shares of TSL exchange hands on a given day and today's volume is recorded at 1287351. These financial metrics combined make this company seem undervalued. Value investors may have an eye on this one, especially if the stock gets cheaper.

http://www.takeoverchatter.com/2011/08/potential-take..



5/8 2011 19:50 Kristensen 144744



Har fundet en artikel fra Seeking alpha fra i går, hvor der gives kolde facts for 8 "hotte" solaktier. Mest overraskende for mig er LDK Solar (LDK), der samtidig med at den er meget billig, nyder godt af "support" indirekte fra den kinesiske stat. De ott aktier er LDK, JKS, TSL, FSLR, HSOL, JASO, DQ og YGE. For de bedste snakker vi P/E på under 5. Bl.a. er P/E for LDK 2,50. Mine personlige favoritter er FSLR, TSL og LDK.

Døm selv:

While all of the solar stocks listed below have strong upside potential, there is one that appears to have the most potential due to a number of factors, one of which is the implied backing of the company by the Chinese government. This point seems to be missed by many shorts, analysts and other investors, so let's look at the facts as to why it appears that LDK Solar (LDK) is backstopped by none other than the Chinese government, similar to how the US government has backstopped certain industries and companies. This type of backstop just about guarantees access to financing, contracts, government subsidies, etc. No other solar company in China appears to have this backstop. Here are the three facts that support this:
1. The China Development Bank is basically an arm of the Chinese government, has invested multi-millions in LDK and given it a multi-billion line of credit. LDK has received a massive line of credit multi-billion line of credit from this government bank.
2. The China Development Bank recently invested $240 million in LDK Solar. According to Wikipedia, the CDB is
one of the three policy banks of the PRC (People's Republic of China), primarily responsible for raising funding for large infrastructure projects, including most of the funding for the Three Gorges Dam and Shanghai Pudong International Airport. The bank was established by the Policy Banks Law of 1994. Debts issued by CDB are fully guaranteed by the central government of the People's Republic of China. CDB is one of the biggest issuers of bonds in the PRC.
3. The Chinese government is backing the entire solar industry indirectly with a program called "Golden Sun," which provides subsidies for solar projects. With the strong direct and indirect investment and backing by the Chinese government, it makes sense to invest in solar stocks, and in particular LDK Solar.

All of the solar stocks below are worth considering. This sector has been heavily shorted and slowly but surely the fundamentals and technicals are improving. Investors and shorts waiting for the all clear signal could be paying much higher prices for these same stocks in the near future.

LDK is trading at $6.44. The 50-day moving average is $6.87 and the 200-day moving average is $10.37. LDK has very strong earnings for a stock trading below $7, and based on guidance from the company, it appears it could earn over $3 per share in 2011. This puts the PE ratio at about 2.5. The company appears to have very strong backing by the Chinese government and longer term investors could see significant gains when buying while the solar market is still depressed and before a potential Hong Kong IPO for the polysilicon division at LDK. Furthermore, it's becoming more clear that LDK was better positioned to withstand the pricing pressures compared to other companies.

Jinkosolar Holding Co., Ltd. (JKS) is trading at $21.90. The 50-day moving average is $24.08 and the 200-day moving average is $25.76. JKS has earnings estimates of about $6.35 per share for 2011 and $5.52 for 2012. This puts the PE ratio at under 4. These shares have received multiple buy ratings with price targets of about $40.

JA Solar Company, Ltd. (JASO) trades at $4.69. The 50-day moving average is $5.18 and the 200-day moving average is $6.68. JASO has earnings estimates of about $1 per share for 2011. This puts the PE ratio at about 5. JASO has a book value of $6.76, so these shares are trading below book value and the PE ratio also indicates this stock is too cheap.

Trina Solar, Ltd. has pulled back to about $16.84. The 50-day moving average is $19.93 and the 200-day moving average is $24.73. TSL is estimated to earn $3.14 per share in 2011. TSL has a book value of $17.41, so these shares are now trading below book value.

Yingli Green Energy Holding Co., Ltd. (YGE) closed at $6.82 yesterday. The 50-day moving average is $8.06 and the 200-day moving average is $10.54 so the shares are trading well below support levels. Estimates for YGE are about $1.19 per share in 2011. This puts the PE ratio at about 6, which is higher than the other names above, but it is still a huge discount to the stock market average.

Hanwha SolarOne Company (HSOL) shares are trading at $5.14. Hanwha SolarOne is a leading maker of wafers and solar modules and is based in China. The 50-day moving average is about $5.68 and the 200-day moving average is $7.60. Earnings estimates for HSOL are expected to be 82 cents for 2011 and 95 cents for 2012. HSOL has a book value of $9.85, so these shares are trading way below book value.

Daqo New Energy Corp. (DQ) closed at $7.51 today. DQ is a leading polysilicon manufacturer, based in China. The 50-day moving average is $7.89 and the 200-day moving average is $11.20. Estimates for DQ are about $2 per share in 2011. This puts the PE ratio at about 3, which is a huge discount to the stock market average. book value is $8.56 per share. This stock has started to rebound from recent lows.

First Solar Inc. (FSLR) shares trade for $115.25. The 50-day moving average is $122 and the 200-day moving average is $136.94. FSLR has earnings estimates of about $9.22 per share for 2011 and $10.86. This puts the PE ratio at about 11. book value is listed at $41.43 per share. The last time I wrote about FSLR, the stock was trading around $150, but now these shares are cheap and worth accumulating as well.



5/8 2011 19:51 Kristensen 044745



Sorry glemte henvisning endnu en gang:
http://seekingalpha.com/article/284601-8-solar-stocks..



10/8 2011 16:42 Kristensen 044907



Købte i sidste uge lidt LDK Solar til den lange portefølje. I dag går de så mod stømmen ,og stiger i US, da de har modtaget en ordre på 20 MW. Opførslen sker i samarbejde med et kinesisk energiproducent.
Dog er den fortsat i minus grundet de store udsving, men på lang sigt har jeg som sagt stor tiltro til den, ikke mindst på baggrund af ovenstående artikel.



10/8 2011 22:42 Nippon1976 044927



min favourit blandt sol aktier er stadig GT Solar.



10/8 2011 23:01 Nippon1976 044928



Her min watchlist. Ses at der var flere, der gik mod strømmen

DQ, First Solar, FSLR, HSOL, JASO, JKS, LDK, Trina Solar, Value, vækst, YGE, TSL




11/8 2011 16:25 Kristensen 044965



Hvordan kan det være GT har klaret sig sp godt ÅTD? Alle undtagen den er gået tilbage?



11/8 2011 19:53 Kristensen 144973



Har fundet lidt yderliger info omkring LDK Solar, i vedhæftede link.

Det jeg finder mest interessant er, at det store fald i den amerikansknoterede Aktie ikke er gået ledelsen ubemærket hen. Derfor har selskabet for nylig fået tilladelse til at købe aktier tilbage for $110 millioner. Baseret på en samlet markedsværdi på lige under $1 milliard (aktuel $841 mia.), svarer det til omring 10% af de udestående aktier.
CEO sagde:
Vi mener vores ADSs (amerikansk depositar aktier) i øjeblikket groft undervurderet. Vi mener vores Aktie tilbagekøbsprogram ikke kun er en god investering for vores virksomhed, men også demonstrerer vores forpligtelse til at øge aktionærværdi.

Samtidig kan man håbe at dette tilbagekøbsprogram kan skabe mere tillid til at de har orden i regnskabsbøgerne, hvis de er villige til at eje 10% af deres egne aktier.

LDK aktier handles nu lang under den bogførte værdi, som er omkring $9.40 pr. Aktie. LDK har også næsten $4 pr. Aktie i kontanter på balancen (aktuel kurs ca. $6)

http://seekingalpha.com/article/280759-5-steps-ldk-so..

Dette selskab byggefagene en latterligt lav P/E forholdet for omkring 2,5 gange indtjening.



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