ReneSola Encounters Headwinds but Looks Better Positioned Than Most

Solar farm builder reports 85% revenue plunge and first-quarter loss, but sees situation improving through the year Key Takeaways: ReneSola has encountered recent headwinds due to Covid-related lockdowns in China and withdrawal from a major U.S. project Company looks better positioned than peers from other industries due to accelerating focus on renewable power construction in the west By Doug Young Its inclusion in a couple of solar promotion programs powered solar farm builder ReneSola Ltd. (SOL.US) to a market-beating performance on Tuesday, defying a bigger selloff that saw the S&P…

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FAST NEWS: Xinjiang Daqo Gets Approval for Shanghai Private Offering

The latest: Polysilicon maker Daqo New Energy Corp. (DQ.US) announced  Thursday its subsidiary, Xinjiang Daqo New Energy Co. Ltd. (688303.SH), has received approval from the China Securities Regulatory Commission for its planned private share offering in China’s A-share market to no more than 35 institutional investors. Looking up: The private offering will raise 11 billion yuan ($165 million) for Xinjiang Daqo, of which approximately 8 billion yuan will be used for a 100,000 metric tons of polysilicon expansion project in Baotou City, Inner Mongolia, China, and the rest of the proceeds for working capital.  Take Note: While…

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JinkoSolar Stumbles on Covid Challenges, But Longer-Term Future Remains Bright

Solar panel maker said its revenue fell sequentially from the fourth quarter to the first, but noted the war in Ukraine is speeding a global drive to reduce dependence on fossil fuels Key Takeaways: JinkoSolar blamed Covid disruptions for a 10% sequential decline in its first-quarter revenue, but added such challenges should be ‘short-term and manageable’ Company forecast it will sell 35 GW to 40 GW of capacity this year, implying it is taking market share from rivals By Doug Young Quite a few messages are emanating from two new…

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FAST NEWS: Daqo New Energy Says It May Be Forced to Delist in 2024

The latest: After being added to a growing list of companies facing possible forced delisting from U.S. stock exchanges, polysilicon maker Daqo New Energy Corp. (DQ.US) responded on Wednesday by saying it will continue to comply with applicable laws and regulations in both China and the U.S. Looking up: The company said it is actively exploring possible solutions to best protect the interest of its stakeholders, without being more specific. One alternative could be a public listing in Hong Kong as some other U.S.-listed Chinese stocks have done, taking advantage of a friendlier…

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Goldwind Diversifies with $3 Billion Deep-Sea Wind Power Investment

Leading maker of wind power generation equipment announces major strategic framework agreement with coastal city of Wenzhou Key Takeaways: Xinjiang Goldwind has announced a new tie-up worth nearly $3 billion with the city of Wenzhou involving deep-sea wind power Move will allow the company to develop technology in a major new emerging area, and also help it diversify geographically beyond its controversial home base By Doug Young Buckle up for some deep-sea fishing! Wind energy equipment maker Xinjiang Goldwind Science & Technology Co. Ltd. (2208.HK; 002202.SZ) has just announced a…

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FAST NEWS: SEC Doubles Number of Chinese Companies at Risk of Delisting

The latest: The U.S. Securities and Exchange Commission (SEC) on Tuesday added 12 company names to a growing list of New York-traded Chinese firms that could be delisted for failing to comply with U.S. law. The additions are mostly midcap companies, including solar materials company Daqo New Energy (DQ.US; 688303.SH), internet portal Sohu (SOHU.US) and asset manager Noah Holdings (NOAH.US). Looking Up: The addition of the companies to the SEC’s list isn’t related to their individual performance, but instead appears related to recent public filings of their annual reports. Nearly…

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Daqo New Energy Suffering from Year-End Hiccups, or Longer-Term Solar Indigestion?

Polysilicon maker reports demand was returning to normal in the first quarter, following sharp unexpected year-end slowdown Key Takeaways: Daqo New Energy said its main operating unit expects to post 75% sales-volume growth for the first quarter, reversing a sharp unexpected contraction in the fourth quarter Company’s stock has rallied nearly 40% over the last two-and-a-half weeks, but remains significantly undervalued compared with peers By Doug Young Polysilicon maker Daqo New Energy Corp. (DQ.US) has been spewing out new data these last two weeks that paint quite a complex picture…

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GCL-Poly Eyes More Debt Reduction With Potential STAR Market Listing

Once mired in debt, the polysilicon maker has rebounded on surging prices for its main products as it considers a secondary listing on the Chinese mainland Key Takeaways: GCL-Poly says it is studying the possibility of a secondary listing on the Chinese mainland Such a listing would most likely occur on the Nasdaq-style STAR Market, which has rewarded such secondary listings with high valuations By Doug Young First it was skyrocketing polysilicon prices that saved producer GCL-Poly Energy Holdings Ltd. (3800.HK) from collapsing under a mountain of debt. Now, the…

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Daqo Taps Richly-Valued China-Listed Unit to Raise $1.7 Billion for Expansion

Polysilicon maker says the expansion that will double its capacity will begin construction in March and be complete in the third quarter of 2023 Key takeaways: Daqo New Energy will tap its China-listed subsidiary to raise funds for construction of a major new production facility in Inner Mongolia Daqo’s holdings in the China-listed unit, Xinjiang Daqo, are worth more than four times its own latest market value By Doug Young Now we finally know what China’s U.S.-listed solar companies are planning to do with their newly-listed Shanghai subsidiaries: use them…

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New Energy Lands as Hottest Category Among Chinese Concept Stocks in 2021 – Bamboo Works Special Report

Investors kept a close look at China’s solar and wind power stocks last year, but were least interested in the hobbled education sector By Bamboo Works team Chinese concept stocks experienced unprecedented challenges in the Year of the Ox. The small and mid-sized companies covered by Bamboo Works were no exception, also coming under intense pressure. Looking past their stock prices and financial reports, how did these companies perform in terms of media and investor attention? Which companies stood out despite all the pressures? Our special report highlights such trends…

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