New Energy

JinkoSolar Dims, Then Shines, with U.S. Export Restrictions and Power Storage Tie-Up

Company’s shares tumbled last month on potential new restrictions from Washington, but were largely unmoved last week after announcement of major new alliance Key Takeaways: •      JinkoSolar’s shares have come under recent pressure from potential U.S. import restrictions on the company and some of its Chinese peers •      JinkoSolar recently formed a strategic alliance with battery giant CATL, but investors may be waiting for more details to determine the deal’s significance By Thomas Zhang Day traders looking to make a quick buck from shares of leading Chinese solar panel maker…

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FAST NEWS: Niu Technologies Q2 Profit Rises 62%

The latest: Electric scooter maker Niu Technologies reported its second-quarter revenue rose 46.5% to 944.7 million yuan ($146 million) year-on-year, while its profit rose 61.6% to 91.8 million yuan, according to its latest quarterly report. Upside: The company expects to post similarly strong revenue growth of 40% to 62% in the third quarter. Downside: Niu Technologies’ revenue per scooter fell 7.3% year-on-year, with the company blaming a “change in product mix.” Digging Deeper: Like many other companies, Niu is bouncing back from a sharp downturn a year earlier during the…

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JinkoSolar, Canadian Solar See Sunnier Skies in China

Pair of solar panel makers separately announce they have filed to list on China’s two-year-old Nasdaq-style STAR Market Key points: Shares of JinkoSolar and Canadian Solar have jumped after both announced applying for secondary listings in China Applications could be a prelude to eventual bids to delist their shares from New York By Doug Young The near-term outlook for China’s bustling solar sector may be cloudy, as soaring material costs dampen demand for pricier solar panels. But you would never know that based on an overnight rally that saw shares…

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New Energy Majors Daqo, Goldwind Face Political Heat From Washington

Xinjiang-based companies may get caught up in U.S.-China tussle, but any actions against them could be largely symbolic Key takeaways: New actions by the U.S. against Daqo appear largely symbolic and should have little to no impact on the company Daqo, along with Goldwind, could trade at slight discounts to peers over the next year due to political risk By Doug Young There’s nothing like a good political storm to cast a cloud over some of China’s most promising new energy companies. That’s one of the big messages coming out…

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Daqo’s Secondary China IPO: Good for Daqo, But Less Clear for U.S. Shareholders

Company’s plan for dual listing on Shanghai’s STAR Market moves ahead with submission to Chinese securities regulator Key points: Daqo is at the forefront of a group of New York-listed private Chinese firms seeking secondary listings on China’s 2-year-old STAR Market The dual listing should benefit the company, but could have relatively little upside for its New York-listed shares By Doug Young Today we break from our usual discussion of corporate strategy and instead examine a growing financial strategy of Chinese companies: listing in multiple markets at once, usually combinations…

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21Vianet Moving to Margins of Data Center Universe?

Microsoft’s China cloud services partner reports slowest revenue growth in first quarter among the country’s three major independent data center operators Key takeaways: 21Vianet’s latest results show it’s the slowest-growing among China’s three major independent data center operators The company’s relative laggard status could weigh on its stock as it focuses on boosting capacity at current facilities rather than opening new ones By Doug Young The latest leg in the horse race between China’s three main independent data-center operators has just concluded, with 21Vianet Group Inc. (Nasdaq: VNET) becoming the…

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Polysilicon Maker Daqo Suffers Ahead of Brewing Solar Downturn

Company’s shares were unchanged after latest upbeat quarterly report, and are down 40% from their February peak Key points: Investors are cool over Daqo New Energy over concerns about a peak in polysilicon prices as soon as early next year Political factors related to the company’s production facilities in China’s western Xinjiang region are also a risk factor By Doug Young We seldom begin by looking a company’s valuation or recent stock trends, preferring to save that information for later, after reviewing the latest news. But in this case we’ll…

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Scooter Maker Niu Charges in China, But Stuck in Bullpen Globally

Company targets 600 new store openings in China in first half of 2021, raising total count by nearly 40% Key takeaways: Investors are growing cautious on Niu Technologies due to falling prices for its scooters at home and lack of progress internationally The company could still emerge as a major global brand after the pandemic subsides and shipping prices come down By Doug Young Electric scooter maker Niu Technologies (Nasdaq: NIU), whose name means bull in Chinese, is making a major charge in its home China market. But its voice…

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Struggling Solar Farm Builder ReneSola Hopes for Dawn of New Day

Cash-challenged company offers glimmers of hope with upward revisions to first-quarter guidance and announcement of joint venture that could ease its financial burden Key points: Struggling ReneSola could be at a turning point if sales of its solar farms pick up with the pandemic’s easing and it can offload more of its late-stage projects to a new joint venture Investors will be watching to see if the company’s revenue returns to a growth track, as its cash remains dangerously low By Doug Young It may sound cliché, but the latest…

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Autonomous Truck Startup TuSimple Navigates Difficult Terrain Between U.S. and China

Company’s bumpy New York trading debut reflects investor indecision as it becomes world’s first autonomous driving technology firm to list Key Takeaways: TuSimple’s biggest strengths are its strong business partners and early arrival to the relatively simple long-haul truck segment of the autonomous driving sector The company’s biggest vulnerabilities are its China ties, as well as competition from rivals backed by giants like Amazon, Alphabet and Baidu By Doug Young Life is anything but simple these days for TuSimple Holdings Inc. (Nasdaq: TSP), the newly listed autonomous truck technology firm…

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